Saudi Arabia Eyes Bold Global Acquisitions for $82 Billion Bank

Saudi Arabia is working on an ambitious plan to give the kingdom’s biggest bank a global footprint through major overseas acquisitions, people with knowledge of the matter said.

The oil-rich country wants Saudi National Bank, the lender with a market value of $82 billion created through a merger more than a year ago, to boost its presence outside the kingdom, according to the people. The bank has been studying potential purchases of financial institutions in Europe and Asia, the people said, asking not to be identified because the information is private.