Oman's Sohar International seeks to initiate merger talks with Bank Nizwa
Published 23 Nov,2021 via Muscat Daily - Sohar International Bank has expressed its intention to initiate merger discussions with Bank Nizwa. The bank on Tuesday sent a letter of intent to the board of directors of Bank Nizwa for a merger between the two entities.
“The board of directors of Sohar International Bank would like to announce that on Tuesday it has sent a letter of intent to the board of Bank Nizwa proposing a merger of the two banks,” Ahmed al Musalmi, chief executive officer of Sohar International Bank said in a disclosure to the Muscat Stock Exchange.
Musalmi said the Sohar International Bank’s board will keep the market updated with any progress on this matter, which will be subject to necessary boards, shareholders and regulatory approvals and the applicable laws of the sultanate.
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