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Saudi Arabia’s banking giant Saudi National Bank (SNB) has appointed Ammar Abdulwahid Alkhudairy as chairman and Yazeed Abdulrahman Alhumied as vice chairman of the new company’s board.
The officials have recently been elected to their positions for a three-year term and received a non-objection from the Saudi Central Bank (SAMA), according to a filing to the Saudi Stock Exchange (Tadawul) on which the company’s shares trade.
SNB has assets worth $239 billion, making it the biggest lender in the kingdom. The company was officially created this year following a merger of National Commercial Bank and Samba Financial Group.
Ratings agency S&P said earlier that the newly merged entity “may create a national champion” that could focus on financing large strategic projects.
(Writing by Cleofe Maceda; editing by Seban Scaria)
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