Shareholding in Samba Pakistan Ltd: Saudi National Bank says considering ‘all strategic options’

KARACHI: Saudi National Bank is considering all its strategic options in relation to its shareholding in Samba Pakistan Limited, including potential mergers, acquisitions, divestment and/or restructuring.

“Saudi National Bank (SNB), as the immediate parent company of Samba Bank Limited, has notified that ‘SNB is considering all its strategic options in relation to its shareholding in Samba Pakistan Limited, including potential mergers, acquisitions, divestment and/or restructuring (the “Strategic Review”)”, disclosure of material information sent to Pakistan Stock Exchange on Tuesday said.

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Any decision relating to the strategic review shall be subject to internal approvals and may be subject to regulatory approvals as well as execution of definitive agreement, the information said.

It may be mentioned that SNB is the successor entity of Samba Financial Group, pursuant to a merger process in the Kingdom of Saudi Arabia, and regulatory formalities for the formal recording of Saudi National Bank as the successor entity in Pakistan under process.

Copyright Business Recorder, 2021