Bank Dhofar, the Omani lender planning to merge with smaller peer Bank Sohar, said on Sunday that its chief executive Anthony Mahoney had resigned for personal reasons.
Bank Dhofar has appointed Abdul Omar Al-O
Bank Dhofar, Oman's second-largest bank by market value, posted a 20.8 per cent drop in second-quarter net profit, according to Reuters calculations, missing the average forecast of analysts.
The lender made 8.36 million rials
Bank Dhofar, Oman's second-largest bank by market value, said on Tuesday it would begin talks with fellow lender Bank Sohar over a possible merger.
Any potential tie-up would be dependent on a similar desir
Oman's Primary Court has returned RO26.1 million ($67.8 million) to Bank Dhofar, the Sultanate's second-largest lender by market value, after an appeals court overturned a 2011 ruling against it, the bank said on Monday.
Bank Dhofar, Oman's second-largest bank by market capitalisation, saw its first-quarter net profit rise marginally by 0.2 per cent, the bank said in a statement.
Net profit for the first three months of 2012 stood at 9.4 million rials ($2
Omani lender Bank Dhofar said a $68 million lawsuit filed by rival Oman International Bank will not hit profit performance in the second half because it has already set aside funds to cover any penalty.
Mohammed Redha Jawad, acting chief e
Oman's Bank Dhofar has been ordered to pay 26.1 million rials ($67.8 million) into an enforcement court's account in a lawsuit filed by rival Oman International Bank (OIB), Bank Dhofar said on Monday.
The lawsuit related to a dispute betwe
Oman's Bank Dhofar's chief executive Kris Babicci has resigned and will be relieved of duties as of April 24, the company said in a statement on Sunday.
General manager Mohammad Redha Jawad will take on the role of acting chief executive.
Oman's Bank Dhofar proposed a cash dividend of 12.5 per cent amounting to 10.17 million rials ($26.41 million), the company said in a statement on Tuesday.
The board also approved a bonus share issue of 12.5 percent amounting to 101.7 mill
Quarterly net profit at Oman's Bank Dhofar jumped more than two-fold, Reuters calculations show, but fell short of average analyst estimates.
Bank Dhofar made a fourth-quarter profit of 7.9 million rials ($20.51 mi