Oman's Ahli Bank disapproves merger offer from Bank Dhofar

Ahli Bank, part owned by Bahrain's Ahli Bank, said in a bourse filing its board decided not to accept a non-binding merger offer from Bank Dhofar.

"The Board of Directors has studied the proposal and decided not to accept it," the statement said without providing a reason for the board's decision. The smaller lender announced on Tuesday it received an offer to combine with Bank Dhofar, which would have created an entity with more than $19 billion in assets.

Bank Dhofar has $11.2 billion in assets, while Ahli Bank in Oman has about $7.9 billion in assets, financial statements showed. Last year, HSBC Bank Oman and local rival Sohar International Bank entered into a binding merger agreement, which was awarded approval from the central bank in February. The merger is expected to complete in the second half of this year.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ahli Bank in Oman receives merger offer from Oman's Bank DhofarAhli Bank in Oman said on Tuesday it received a non-binding offer from Oman's second-biggest lender Bank Dhofar for a possible merger.
Source: Reuters - 🏆 2. / 97 Read more »

Wall Street bank earnings under pressure after crisisMost Wall Street banks are likely to report lower quarterly earnings and face a dour outlook for the rest of the year, with last month's regional banking crisis and a slowing economy expected to hurt profitability. 完璧 And the bigger they are, the harder they fall, Bring it. Manufactured crisis.
Source: Reuters - 🏆 2. / 97 Read more »