The Saudi Investment Bank (SAIB) has denied entering into any merger or acquisition discussions with any party, the bank said in a statement to the Saudi stock exchange Tadawul on July 1.
The announcement comes in compliance with Article 78(d) of the Securities Offering Rules and Continuing Obligations issued by the Capital Market Authority, the bank said.
This denial follows recent media speculation about Kuwait Finance House's intention to purchase a stake in SAIB. The Kuwaiti bank had previously refuted these rumours.
SAIB's shares fell by 1% in July 1 morning trading following the disclosure that it was not engaged in any merger or acquisition talks.
The bank's statement aims to clarify its position amidst market rumours and maintain transparency with its shareholders and the wider market.
This development highlights the ongoing interest in potential consolidation within the Gulf's banking sector, even as major players deny specific discussions.
Related Articles
Islamic Development Bank raises €500mn through green sukuk issuance
The Islamic Development Bank successfully raised €500mn ($546mn) through its latest benchmark green sukuk issuance under the enhanced sustainable financing framework for 2025, the Saudi Press ... more
Saudi Arabia's Sico Bank forecasts Q3 2025 earnings for major firms
Sico Investment Bank has released its earnings forecasts for the third quarter of 2025, covering banks and companies within its coverage of the Saudi stock market, as Argaam reported on October ... more
OPEC+ set to approve output hike
OPEC+ is set to raise oil output in November and aims to reclaim its global market share, according to Bloomberg. Citing sources that were present at the group’s recent meeting, the media outlet ... more