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BNP Paribas to buy stake in Saudi investment asset unit
- Saudi Arabia: Wednesday, March 19 - 2008 at 14:44
BNP Paribas, France's largest bank, has agreed to buy a quarter of Saudi Investment Bank's asset management unit, reported Bloomberg. SAIB Asset Management, which manages $2.2bn, including Gulf stocks and Islamic funds, will be renamed SAIB BNP Paribas Asset Management pending regulatory approval.
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Jeff Florian, Senior ReporterWednesday, March 19 - 2008 at 14:44 UAE local time (GMT+4)
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