Samba says creditor objection period for merger with NCB ends on March 31

29/03/2021 Argaam

Logo of Samba Financial Group

Samba Financial Group announced today, March 29, 2021, that the creditor objection period in relation to merger with National Commercial Bank (NCB) will end on March 31, 2021.

 

According to Article 193 of the Companies Law, the merger will become effective upon the creditor objection period's expiry if there are no unresolved objections from the bank's creditors.

 

Shareholders of NCB and Samba approved on March 1, 2021, the merger of both banks, during their respective extraordinary general meetings (EGM), Argaam reported.

 

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