Samba to shut down London branch

Samba Financial Group’s board of directors agreed on June 8 to shut down the bank's London branch as it's no longer financially viable or consistent with the group’s strategic objectives.

There is no substantial financial impact expected from the closure, Samba said in a statement to Tadawul.

The closure will be achieved in compliance of the United Kingdom’s regulations and the financial authorities there have been notified of the decision, it added.