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
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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 Saudi British Bank, according to a statement on Saudi stock exchange website last Tuesday. Both lenders are based in Riyadh, with HSBC owning 40 per cent of SABB.
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