Goldman also advised Saudi British Bank 1060.SE, which in October signed a deal to merge with rival Alawwal Bank 1040.SE to create Saudi Arabia’s third-biggest lender with a market capitalization of about $17.2 billion.
Dubai-based Abraaj, worth $13.6bn, collapsed last year following turmoil triggered by a row with investors
Commercial exchanges between the two countries are forecast to reach KD 120 million ($136.5 million) after assembling all data and figures of the year second half, said Khjoha in a statement to Kuwait News Agency (KUNA).
The proposed combination has the backing of the Public Investment Fund, the sovereign wealth fund that owns about 44 percent of National Commercial Bank and 22 percent of Riyad Bank, the people said.
Speaking about the agreement, Sami Hamad Al Rajhi said, “Fawri is one of the fastest growing money transfer services in Saudi Arabia, with Pakistan being one of our largest remittance recipient corridors.