Samba Financial Group

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News

4 April 2021 11:22 AM Saudi National Bank's board proposes SAR 3.58bn dividends for 2020

Riyadh – Mubasher: Saudi National Bank, the newly-formed entity resulting from the merger between National Commercial Bank (NCB) and Samba Financial Group, announced that the board of directors recommended a cash dividend of SAR 0.80 after …

Cash Dividends

1 April 2021 03:09 PM NCB, Samba to complete merger with no creditor objections

Riyadh – Mubasher: The National Commercial Bank (NCB) and Samba Financial Group have announced the expiry of the creditor objection period with no outstanding unsatisfied creditor objections for their planned merger. Through the merger, Samba …

Banking and Finance

2 March 2021 09:44 AM NCB, Samba shareholders approve merger agreement

Riyadh – Mubasher: The extraordinary general meeting (EGM) of the National Commercial Bank (NCB) has approved the proposed merger of the bank and Samba Financial Group through the issuance of 0.739 new NCB shares for every share in Samba. It …

Management Decisions

1 March 2021 04:13 PM MEPCO extends SAR 93m loan deal with Samba

Riyadh – Mubasher: Middle East Paper Company (MEPCO) has renewed a Sharia-compliant credit facility agreement worth SAR 93 million with Samba Financial Group to finance the company's working capital and spare parts for factory equipment and …

Banking and Finance

28 February 2021 11:25 AM Chemanol restructures SAR 475m loans with local banks

Riyadh – Mubasher: Methanol Chemicals Company (Chemanol) penned an agreement to restructure outstanding loans worth SAR 475 million with a consortium of local banks. The banks are the Gulf International Bank (GIB), the Saudi British Bank (SABB), …

Banking and Finance

24 February 2021 01:10 PM Samba, NCB to not lay off employees after merger

Riyadh – Mubasher: Samba Financial Group said that it and the National Commercial Bank (NCB) will not lay off any of their employees following their intended merger, Samba’s Board Chairman, Ammar Al Khudairy, told Al Arabiya on Wednesday. He added …

Mergers and Acquisitions

17 February 2021 04:18 PM Samba Financial reports 5.3% higher earnings in 2020

Riyadh – Mubasher: Samba Financial Group gained SAR 4.2 billion in net earnings during 2020, up by 5.3% when compared to SAR 3.99 billion a year earlier. The growing annual profits were helped by higher operating income by 9.6%, according to a …

Financial Results

2 February 2021 04:43 PM SAMA nods to NCB, Samba merger

Riyadh – Mubasher: The National Commercial Bank (NCB) announced receiving the Saudi Central Bank’s (SAMA) go-ahead for its intended merger with Samba Financial Group. The merger, expected to complete during the first half (H1) of 2021, remains …

Central Banks

2 February 2021 09:58 AM Aseer’s unit secures SAR 342m loan from Samba

Riyadh – Mubasher: Al Rabie Saudi Foods Company, a subsidiary of Aseer Trading, Tourism and Manufacturing Company (Aseer), has secured Sharia-compliant credit facilities of SAR 342 million from Samba Financial Group. The credit facilities are a …

Companies Investments

2 February 2021 09:29 AM Samba, NCB to be named Saudi National Bank after merger

Riyadh – Mubasher: Samba Financial Group has announced new details regarding its intended merger with the National Commercial Bank (NCB). Samba said the committee responsible for preparing the integration plan resolved that the proposed name …

Mergers and Acquisitions

28 January 2021 09:27 AM Saudi competition authority approves NCB-Samba merger

Riyadh – Mubasher: The Saudi General Authority for Competition (GAC) expressed its no objection to finalise the economic concentration process between the National Commercial Bank (NCB) and Samba Financial Group, according to the authority’s …

Mergers and Acquisitions

21 January 2021 04:56 PM Bahri’s unit secures SAR 1.2bn Murabaha facility from Samba

Riyadh – Mubasher: The National Shipping Company of Saudi Arabia (Bahri) said its 80%-owned subsidiary, National Chemical Carriers Co., has secured a Murabaha facility worth SAR 1.23 billion. The financing, provided by Samba Financial Group, …

Banking and Finance

20 January 2021 03:37 PM NCB Capital to see long-term benefits after NCB, Samba tie-up – Moody’s

Riyadh – Mubasher: Moody’s Investors Service expected the completion of the merger between the National Commercial Bank (NCB) and Samba Financial Group to be relatively smooth despite the ongoing circumstances. The NCB-Samba merger is set to …

Mergers and Acquisitions

10 January 2021 11:41 AM Saudi Amiantit settles loans worth SAR 107m with Saudi, Bahraini banks

Riyadh – Mubasher: The Saudi Arabian Amiantit Company announced the full settlement of its loans with Samba Financial Group, Bank Aljazira, Gulf International Bank, Al Baraka Islamic Bank (Bahrain), and Arab Banking Corporation (Bahrain). The …

Banking and Finance

3 January 2021 03:25 PM Saudi ADF teams up with Al Rajhi Bank, Samba

Riyadh – Mubasher: Saudi Arabia’s Agricultural Development Fund (ADF) on Sunday signed two cooperation agreements with Al Rajhi Bank and Samba Financial Group as part of the financing programme in partnership with commercial banks. The agreements …

Banking and Finance

22 December 2020 11:18 AM Samba announces CEO resignation

Riyadh – Mubasher: Samba Financial Group’s Board of Directors approved the resignation of Rania Mahmoud Nashar from the CEO position, effective from 31 January 2021, due to the acceptance of another job offer. The group has assigned Mohammed bin …

Management Decisions

15 November 2020 04:25 PM Tihama pens SAR 20m loan deal with Samba

Riyadh – Mubasher: Tihama Advertising and Public Relations Company on Sunday signed a credit facility agreement of SAR 20 million with Samba Financial Group. The two-year loan is guaranteed by a pledge of a banking deposit at Samba, according to a …

Banking and Finance

3 November 2020 04:31 PM Samba profit levels up 0.4% in Q3

Riyadh – Mubasher: Samba Financial Group’s net profits levelled up by 0.4% on an annual basis during the third quarter (Q3) of 2020 to SAR 1.2 billion. The marginal rise in profit was helped by an increase in operating income by 12%, according to …

Banking and Finance

2 November 2020 04:32 PM Ataa Educational secures SAR 50m loan from Samba

Riyadh – Mubasher: Ataa Educational Company said it inked a Sharia-compliant credit facility agreement with Samba Financial Group worth SAR 50 million to finance the company’s working capital when needed. The loan was granted to Ataa Educational …

Companies Investments

21 October 2020 10:17 AM Moody's affirms ratings of NCB, Samba; outlooks remain negative

Riyadh – Mubasher: Moody's Investors Service has affirmed all ratings and assessments of National Commercial Bank (NCB) and Samba Financial Group, including their long-term and short-term deposit ratings at A1/P-1, and Baseline Credit Assessments …

Ratings

14 October 2020 10:06 AM NCB, Samba create joint website

Riyadh – Mubasher: The National Commercial Bank (NCB) and Samba Financial Group created a joint website that contains information relating to the contemplated merger between the two banks, according to a bourse statement on Wednesday.   On Sunday, …

Mergers and Acquisitions

12 October 2020 11:37 AM NCB, Samba stocks rise at Monday’s opening after merger news

Riyadh – Mubasher: The stocks of the National Commercial Bank (NCB) and Samba Financial Group saw a positive performance at Monday’s opening after they signed on Sunday a legally binding agreement to implement a merger between the two banks. By …

Trading Activities

11 October 2020 04:04 PM NCB signs binding merger agreement to take over Samba

Riyadh – Mubasher: The National Commercial Bank (NCB) has entered into a legally binding merger agreement with Samba Financial Group to take the necessary steps to implement a merger between the two banks. The completed transaction involves a …

Companies Investments

11 October 2020 10:43 AM Tadawul suspends trading NCB, Samba stocks

Riyadh - Mubasher: The Saudi Stock Exchange (Tadawul) on Sunday announced the suspension of trading the shares of the National Commercial Bank (NCB) and Samba Financial Group for one trading session. The decision came upon the request of both …

Corporate Actions

8 October 2020 10:35 AM Moody's assigns national scale ratings to four Saudi lenders

Riyadh – Mubasher: Moody's Investors Service has assigned national scale ratings (NSRs) for the long-and-short term deposit ratings and counterparty risk ratings (CRRs) of four Saudi banks. These banks are Bank AlJazira, Riyad Bank, Samba …

Ratings