Saudi Arabia Banking Pulse

GCC banking consolidation GCC list of M&A transactions in banking sector since January 2019 Announcement Date Target Company Target Country Acquirer Company % Sought Consideration (SAR Mn) Deal Status* 20-Jan-21 Bank Audi SAE (Egypt) Egypt First Abu Dhabi Bank PJSC 100% NA Completed 16-Sep-20 Ahli United Bank Egypt SAE Egypt Ahli United Bank BSC 14.4% 304 Pending 30-Jun-20 25-Jun-20 Al Khalij Commercial Bank PQSC Samba Financial Group SJSC Qatar Masraf Al Rayan QSC 100% 4,492 Pending Saudi Arabia National Commercial Bank SJSC 100% 58,397 Completed 31-Dec-19 Alizz Islamic Bank SAOG Oman Oman Arab Bank SAOC 81% NA Completed 12-Sep-19 Ahli United Bank BSC Bahrain Kuwait Finance House KSCP 100% 21,860 Pending 15-Aug-19 Cqur Bank LLC 08-Aug-19 DenizBank AS Qatar Turkey VTB Bank PJSC 19% NA Completed Emirates NBD PJSC 0.20% NA Completed 20-Jun-19 Warba Bank KSCP Kuwait Kuwait & Middle East Financial Investment Co KSCP 75.70% NA Proposed 12-May-19 Gulf Bank KSCP Kuwait Alghanim Industries Ltd 16% NA Completed 21-Apr-19 HSBC Saudi Arabia Ltd Saudi Arabia HSBC Holdings PLC 2% 31 Completed 10-Apr-19 Invest bank PSC UAE Emirate of Sharjah United Arab Emirates 50% 1,009 Completed 07-Apr-19 Noor Bank PJSC UAE Dubai Islamic Bank PJSC 100% NA Completed 03-Apr-19 15-Mar-19 Oman United Exchange Co Banque Saudi Fransi Oman Private Investor 25% NA Completed Saudi Arabia Olayan Investments, Ripplewood Advisors LLC 5% 1,641 Completed 29-Jan-19 29-Jan-19 Union National Bank PJSC Al-Hilal Bank PJSC UAE Abu Dhabi Commercial Bank PJSC 100% 11,762 Completed UAE Abu Dhabi Commercial Bank PJSC 100% NA Completed Source: Bloomberg *Proposed Status: Board suggests shareholders to consider the acquisition *Pending Status: Acquisition has announced *Completed Status: Acquisition has completed 19 ALVAREZ & MARSAL

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