Shareholders approve merger of Alawwal bank and SABB

On 15 May shareholders of Alawwal bank and SABB voted to approve the merger of the two banks at Extraordinary General Meetings.

What happens next

We must now allow a period for creditor objection before the two banks can combine into a single legal entity. We expect our businesses to combine into a single legal entity before the end of June 2019.

Legally joining our businesses is an important stage of a complex and lengthy merger process, but there is more work to be done, and further updates will be communicated as they happen.

For now, though, nothing changes for customers and you should continue to enjoy your banking services as normal.