Bank Dhofar and National Bank of Oman in talks for latest GCC banking merger - The National

Bank Dhofar and National Bank of Oman in talks for latest GCC banking merger  - The National:

Bank Dhofar and National Bank of Oman will discuss a potential merger that could create a new financial institution in Oman with $20 billion (Dh74bn) in assets.

The board of Bank Dhofar gave the nod in its July 29 meeting and “resolved to commence discussions with National Bank of Oman to explore the possibility of a merger between the two entities”, the lender said in a regulatory filing to Muscat Securities Market, where its shares are traded.

NBO confirmed its intentions on talks for the possible deal, which the two lenders said is subject to obtaining “final approval from respective boards, shareholders, stakeholders and regulators”.