First bank mergers into SABB

Integration is a positive legal phenomenon, demonstrating the heightened competition between businesses and aims to strengthen the financial position of the market.
The idea of integration is based on annexation and cohesion, and at least always results in the courtyard of one of its limbs.

Fusion can be a way of mixing, resulting in the annihilation of all parties to the relationship and the emergence of a new legal entity.

The company, which is incorporated into the company, may be melted by the merger and transfer the entire rights and obligations of the merged company to the merged company, and both contribute to the management of the merged company according to its share of capital, and this closely integrated relationship is governed by the merger.

As for the first Bank’s General Assembly, the shareholders have been compensated so that each first Bank shareholder receives 0.485 in SABB for each share he owns, and thus become members of SABB’s General Assembly and contribute to its management with the equity limits they own.

SABB became the third largest bank in Saudi Arabia in terms of assets with a value of approximately 285 billion riyals.