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.
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