Omani National bank to collect USD300m to boost capital

04 Nov 2015

(MENAFN) National Bank of Oman (NBO) intends to gather USD300 million more funds by way of a bond sale in abroad markets, according to latest reports.

Additionally, the Omani financial institute will set down with investors in Asia, the Middle East and Europe, and the bond will be issued after the meetings.

Moreover, Omani banks need extra capital for achieving a fast growth, however; across gulf region, Oman has the top regulatory requirement for capital adequacy.

Meanwhile, the cited bank has completed 16 percent growth in gross profit for Jan-Sep at USD111 million, from USD96 million for last year’s same timeframe.

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