Najd Gateway to acquire majority control of Samba Bank

Najd Gateway Holding Company, a private investment and holding firm based in Saudi Arabia, has announced its intention to acquire approximately 84.51% of Samba Bank Limited's shares and control. The public offer is subject to the completion of due diligence and requisite regulatory approvals, including from Pakistan’s Securities and Exchange Commission.

The acquisition, facilitated by Arif Habib Limited, aligns with Najd Gateway's strategy of making cross-border investments in financial institutions. The proposed deal is set to reinforce ties between Saudi Arabia and Pakistan while strengthening governance and capital standards at Samba Bank.

Under the deal's terms, the Saudi National Bank holds the largest shareholding in Samba Bank, with an 84.51% stake. The public announcement comes after a review of Samba Bank's financial performance, showing growth in assets and profits