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16 December 2019
BUSINESS

National Bank of Oman to exit from Egypt

The Muscat Securities Market-listed bank is the third largest by market capitalisation behind Bank Muscat and Bank Dhofar.

iStock/typhoonski

by Kudakwashe Muzoriwa

The National Bank of Oman’s (NBO) Board of Directors has resolved to exit from Egypt and close its last branch and operations there, subject to obtaining all regulatory approvals.

NBO stated that the bank’s management has been working towards achieving that exit, adding that noting that the exit is anticipated to happen by the end of Q1 2020.


RELATED STORIES: National Bank of Oman Muscat Securities Market

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