Oman Arab Bank Receives Merger Proposal from Dhofar Bank

Oman Arab Bank announced today, Tuesday, that it has received a non-binding offer from Dhofar Bank, the second-largest bank in the Sultanate, regarding a potential merger. The Oman Arab Bank stated in a stock market disclosure that "its board of directors will study the submitted offer and will announce any material developments in this regard. If the merger process is completed, it will result in a bank with assets exceeding $19 billion." Financial data revealed that Dhofar Bank has assets worth $11.2 billion, while Oman Arab Bank has assets valued at approximately $7.9 million.