Oman: possible banking merger between “Nizwa” and “Sohar International”

The Board of Directors of Bank Nizwa welcomed the contents of the letter presented by Sohar International Bank, which will explore the opportunities for a merger between the two banks.

The Nizwa bank said in a statement to the Muscat market today, Thursday, which will inform shareholders of any developments in this regard and ensure that all legal and legislative procedures are completed in this aspect.

Bank Nizwa had achieved third quarter earnings growth of around 14% to reach 3 million Oman riyals.

As for the end of the first nine months of questyear, the bank’s profits grew 6% to OMR 9 million.

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