.
.
.
.

Saudi processing three applications for banking licenses

Published: Updated:

The Saudi central bank has received three applications for banking licenses and processing them is at an advanced stage, central bank governor Ahmed al-Kholifey told a news conference on Wednesday.

Kholifey did not name the applicants.

Another central bank official said no more bank mergers were expected. Alawwal Bank and Saudi British Bank agreed in April to start talks on a possible merger.