Bank Muscat has signed a $170 million subordinated loan agreement with the International Finance Corporation, a unit of the World Bank, the Omani lender said in a statement posted on its website.
In November, Bank Muscat, Oman's largest lender by market value, said it was in talks with IFC to raise the agreed amount in subordinated debt.
The loan agreement was signed on Dec. 29, the statement said. The IFC has invested in Bank Muscat through the IFC Capitalisation Fund, set up to support emerging market banks.
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