Lubna Al-Olayan to Chair Merged Saudi British Bank, Alawwal

Lubna Sulaiman Al-Olayan is set to lead the merged Saudi British Bank and Alawwal bank as chair of what would be the Kingdom’s third-largest lender.

It comes amid efforts to increase the representation of women at board level among Saudi corporates and follows a string of other appointments of women to senior roles over the last year.

Saudi British Bank (SABB) and Alawwal bank said in a statement on Thursday they had agreed to combine to create the country’s third largest bank in the latest sign of consolidation in the sector.