A recent report indicates that Kuwait Finance House is contemplating the purchase of a significant share in the Saudi Investment Bank. This move is aimed at fortifying its regional influence. While discussions are ongoing, there is currently no certainty that an agreement will be reached.
The stock of the Saudi Investment Bank closed at SAR 12.78, with the bank’s market value approximating SAR 16 billion. The Public Institution for Social Insurance holds a substantial stake in the bank, owning 320 million shares which represent 25.6% of the bank’s capital.
In recent news, a Kuwaiti newspaper revealed that a Kuwaiti bank is negotiating to acquire a controlling stake that could reach up to 50% in one of the Saudi-listed banks on the main market – Tadawul. The estimated value of the deal might amount to USD 1.7 billion.
