trending Market Intelligence /marketintelligence/en/news-insights/trending/eM7EhgPIU2NWRpeMZLaDug2 content esgSubNav
In This List

Report: NCB poised to pick JPMorgan to advise on Riyad Bank merger

Blog

Insight Weekly: Unease roils markets; US likely to slip into recession; firms' cash ratios fall

Blog

Insight Weekly: Bank boards lag on gender parity; future of office in doubt; US LNG exports leap

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Podcast

Street Talk | Episode 99 - Higher rates punish bond portfolios, weigh on bank M&A


Report: NCB poised to pick JPMorgan to advise on Riyad Bank merger

Saudi Arabia's National Commercial Bank is poised to appoint JPMorgan to serve as an adviser on its merger talks with Riyad Bank, Reuters reported Jan. 17, citing sources familiar with the matter.

The appointment is subject to the approval of National Commercial Bank's board, the sources said.

The potential tie-up will create an entity with about 685.05 billion riyals in assets, making it the third-largest lender in the Gulf region by that measure, according to S&P Global Market Intelligence data.

The two lenders began preliminary merger talks in December 2018. Riyad Bank has reportedly picked Goldman Sachs to advise it on the deal.

As of Jan. 17, US$1 was equivalent to 3.75 Saudi riyals.