News

Saudi banks seek advisers for mega merger

Merging_blocksTwo Saudi banks, National Commercial Bank and Riyad Bank, are searching for advisers ahead of their planned merger. The two firms have sent out requests for proposals to a number of global investment banks including Citigroup, Credit Suisse, Goldman Sachs, HSBC, JP Morgan and UBS, according to Bloomberg. The advisers are expected to be finalised by the end of January. The deal would create the region’s third-biggest lender with more than $180 million in assets and has been described as the biggest bank merger for three years. Saudi sovereign wealth fund, the Public Investment Fund, which owns 44% of NCB and 22% of Riyad bank, has given the deal its blessing. ©2019 funds global mena

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Jan 04, 2019

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

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In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

Roundtables

ROUNDTABLE: Hooked to the global caravan

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With the MENA region at a tipping point, our panellists talk about economic diversification, the impact of regulation and the delayed Saudi Aramco listing. Chaired by Romil Patel in Dubai.

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