Saudi National Bank Makes a Divestment in Samba Bank Pakistan

The management of Saudi National Bank has decided to make a divestment of its shares in Pakistan’s Samba Bank. According to an official notification issued to the Pakistan Stock Exchange, the board and the management of Saudi National Bank (SNB) have decided to undertake a strategic review of its options relating to Samba Bank Limited. The SNB will commence an orderly and well-managed divestment of Samba Bank Limited-Pakistan. In this regard, the parent group of Samba Bank will appoint advisors to assist with the process. In the next move, these advisers will provide consultancy to the management of Samba Bank Limited on engagements with the regulators in Pakistan for the process, as necessary. SNB had previously informed the banking regulator that it is considering all its strategic options in relation to its shareholding in Samba Pakistan Limited, including potential mergers, acquisitions, divestments, and/or restructuring. It is the successor entity of Samba Financial Group, pursuant to a merger process in the Kingdom of Saudi Arabia, and regulatory formalities for its formal recording as the successor entity in Pakistan under process.