Bank Dhofar, NBO to start merger talks

MUSCAT: The Board of Directors of Bank Dhofar and the National Bank of Oman (NBO) have decided to start a dialogue to study the possibility of a merger between the two institutions. In separate filings to Muscat Securities Market (MSM), both banks said the merger will be subject to final approvals of the boards of directors of banks, shareholders, stakeholders and regulators. It may be noted that Bank Dhofar and Bank Sohar were in merger talks in the past that ended inconclusively. NBO was also in talks in the past for possible merger with United Finance Company a few years ago.