Samba Financial Group SJSC, formerly known as The Saudi American Bank, was a multinational banking firm based in Saudi Arabia. The combined institution had 66 branches in the Kingdom. Samba merged with NCB to form Saudi National Bank on 1 April 2021. Samba, or The Saudi American Bank as it was once known, was established on 12 February 1980 with the takeover of Citibank branches in Jeddah and Riyadh under a Saudi requirement that forced all foreign banks to be at least 60% owned by Saudi nationals. Citigroup entered a Technical Management Agreement under which it agreed to manage the new bank. The former Prime Minister of Pakistan, Shaukat Aziz, was the Managing Director of the bank in the 1990s. More information...
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