Riyadh - Mubasher: The Saudi Capital Market Authority (CMA) has approved the merger of NCB Capital Company (NCB Capital) and Samba Capital and Investment Management Company (Samba Capital).

The Saudi National Bank (SNB) announced that the merger of Samba Capital into NCB Capital is effective pursuant to which all of the assets and liabilities of Samba Capital are transferred to NCB Capital, according to a bourse filing on Sunday.

It is noteworthy to mention that in June 2021, the SNB expected the merger between NCB Capital and Samba Capital to take effect by the third quarter (Q3) of 2021.