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SABB plans to exit Wataniya Insurance

SABB plans to exit Wataniya Insurance
SABB owns 20% equity in the insurance company
WATANIYA
8300
-1.37% 15.80 -0.22
SAB
1060
4.63% 35.00 1.55

Riyadh – Mubasher: The Saudi British Bank (SABB) intends to exit Wataniya Insurance Company to best serve the interest of the bank’s shareholders, according to a bourse filing on Wednesday.

The bank is still considering the exit option as part of its strategic plans. It confirmed that this announcement does not guarantee that the transaction will be completed.

It is worth noting that SABB owns 20% equity in the insurance company.