The Saudi National Bank (SNB), the majority shareholder of Samba Bank Limited, has received a non-binding offer from Najd Gateway Holding Company to acquire its entire shareholding in Samba Bank Pakistan, representing approximately 84.51% of the bank’s issued capital. The development was disclosed by Samba Bank in a notice submitted to the Pakistan Stock Exchange (PSX) on Friday.
According to the PSX notice, the Saudi National Bank has clarified that any potential transaction, including access to information for due diligence, will remain subject to internal approvals and regulatory processes, as well as the execution of definitive agreements. The bank emphasized that no decision has yet been finalized regarding the proposed divestment.
Najd Gateway Holding Company, a Saudi investment group led by Chairman Prince Mansour Bin Mohammad Al Saud, has been actively investing in Pakistan’s strategic sectors, particularly agriculture and technology. In October 2024, the group signed a Memorandum of Understanding with Brillanz Group, a Pakistan-based technology company, aimed at expanding technology solutions in Saudi Arabia and promoting sustainable energy and IT investments in Pakistan.
The proposed acquisition marks another chapter in the ongoing discussions surrounding ownership of Samba Bank Pakistan. Previously, in November last year, Bank Alfalah Limited, one of the country’s largest commercial banks, withdrew its public announcement of intention to acquire a majority stake in Samba Bank Limited. This development followed SNB’s decision to terminate earlier divestment plans.
Samba Bank Pakistan has a history of potential ownership changes that have not materialized. Back in 2021, a consortium consisting of members from Samba Bank Limited’s management, Fatima Fertilizer Company Limited, and Gulf Islamic Investment LLC had expressed firm intentions to acquire control of the bank’s 84.51% paid-up capital. However, that deal ultimately did not proceed.
The new offer from Najd Gateway Holding is significant for Pakistan’s banking sector, given the size of SNB’s stake and the potential strategic implications of the transaction. Analysts note that a successful acquisition could further strengthen foreign investment in the country’s financial sector and create opportunities for enhanced collaboration between Saudi investors and Pakistan’s banking and technology industries.
While the offer is non-binding at this stage, it reflects growing interest from international investors in Pakistan’s financial services and the broader economic landscape. The transaction, if completed, would mark one of the largest foreign-led equity shifts in a commercial bank in recent years and could set the stage for additional strategic partnerships in the banking sector.
For now, SNB and Najd Gateway are expected to continue discussions under regulatory oversight, with market observers closely monitoring any developments that could influence ownership, governance, and strategic direction at Samba Bank Pakistan. The transaction highlights ongoing consolidation and investment activity in Pakistan’s banking sector, reflecting both domestic and international investor confidence.
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