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HSBC's, RBS's Saudi Arabian ventures in talks to merge

Combined entity will be kingdom's third-largest lender with US$78 billion in assets
Tuesday, May 2, 2017 - 05:50

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Alawwal Bank (above), which is 40 per cent owned by RBS, plans to start initial talks with HSBC's Saudi British Bank, according to a statement on Saudi stock exchange website.

Dubai

HSBC Holdings plc and Royal Bank of Scotland Group plc's Saudi Arabia ventures are exploring a potential merger to create the kingdom's third-largest lender with US$78 billion in assets.

Alawwal Bank, which is 40 per cent owned by RBS, plans to start initial talks with HSBC's

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