The proposed merger between Riyad Bank and National Commercial Bank (NCB) is still “under study”, Tariq Al Sadhan, CEO of Riyad Bank, told Al-Arabiya TV on Monday.
The study is likely to take some time, owing to the heavy weight of both banks.
“It is currently difficult to provide a timeline for the merger study completion,” Al Sadhan added on the sidelines of the World Bank Group/International Monetary Fund 2019 Annual Meetings.
In December 2018, both banks said they started talks for a possible merger, Argaam reported.
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