MUSCAT: The acquisition, first announced on October 3, 2024, will see Bank Dhofar take over the Oman Branch operations.
In a disclosure to the Muscat Stock Exchange on Tuesday, Bank Dhofar confirmed that the Central Bank of Oman granted “In-Principle Approval” for the transaction, marking a key milestone in the deal. However, both institutions must fulfill specific procedures outlined by the CBO before the final approval is issued.
The acquisition will include all assets and liabilities of the Bank of Baroda Oman Branch subject to final negotiations and agreement on terms and conditions.
Read More
- Indian Railways to replace LPG, diesel with PNG at 22 sites under pact with IGL
- Oil rises on supply fears as Middle East attacks escalate
- Oman’s standard government contracts initiative aims to boost public spending efficiency
- World Bank forecasts 23% rise in global commodity prices in 2026
- Oman signs 28 investment deals worth more than RO 304 million
Saleh Mohammed Al Hadhrami, AGM and Head of the Legal Department at Bank Dhofar, confirmed that further updates on the acquisition will be shared as needed.
For all the latest news from Oman and GCC, follow us on Twitter, Instagram and LinkedIn, like us on Facebook and subscribe to our YouTube page, which is updated daily.
