NBO to shut down Egypt operations: MSM

Muscat: National Bank of Oman (NBO) has decided to shut down operations in Egypt, it said in a filing to Muscat Securities Market (MSM) on Monday. 'The board had resolved to exit from Egypt and close its last branch and operations there. The bank would be targeting the end of the first quarter of 2020 to reach that exit,' it said in the filing. Meanwhile, the bank will be relocating its branch at Souq al Khuwair to MIC Tower next to Mustafa Sultan Electronics, the company said in a separate filing.