Saudi National Bank (SNB), the majority shareholder of Samba Bank Limited, has received an offer from Najd Gateway Holding Company to acquire its entire shareholding in Samba Bank Pakistan, which amounts to approximately 84.51% of the bank’s issued shares.
Samba Bank disclosed this development in a notice submitted to the Stock Exchange on Friday.
SNB, which holds majority ownership in Samba Bank Limited, informed that it has received a non-binding offer from Najd Gateway Holding Company regarding the proposed sale of 100% of SNB’s shares in Samba Bank Limited — representing around 84.51% of Samba Bank Pakistan’s total shares.
However, SNB clarified that any decision regarding the potential transaction or its related processes — including access to information for due diligence, internal and regulatory approvals, and execution of final agreements — will be subject to the fulfillment of necessary conditions.
Najd Gateway Holding Company is a Saudi investment group led by Chairman Prince Mansour bin Mohammad Al Saud, and it has been actively investing in key sectors of Pakistan, particularly agriculture and technology.
In October 2024, Najd Gateway signed an MoU with the Pakistan-based Berlanz Group to expand technology solutions in Saudi Arabia and promote investments in sustainable energy and IT in Pakistan.
Last year in November, Bank Alfalah Limited withdrew its Public Announcement of Intention (PAI) to acquire a majority stake in Samba Bank Limited.
This development came after SNB decided to halt its plan to sell its shareholding in Samba Pakistan.
In 2021, Samba Bank received a strong intention offer from a consortium to acquire 84.51% of its paid-up capital. The consortium included members of Samba Bank Limited’s management, Fatima Fertilizer Company Limited, and Gulf Islamic Investment LLC. However, that deal did not materialize.
