Skip to main content

Oman's United Finance Co said on Wednesday that Bank Nizwa had approached it with a proposal for a strategic merger.

United Finance's board will consider the proposal at its next meeting, the company said without giving any details. It noted that any merger would need the approval of the board of directors, shareholders and regulators.

Bank Nizwa, which started operations in 2013 as one of Oman's two full-fledged Islamic banks, has a market capitalisation of about $320 million, according to Thomson Reuters data.

United Finance describes itself as Oman's largest non-bank financial institution, and offers loans and leasing services as well as corporate deposits. Its market capitalisation is about $105 million.

Related Articles

Other News

Q&A with Edwin Northover, Debevoise & Plimpton LLP

by Asian Legal Business《亚洲法律杂志》 |

Debevoise & Plimpton LLP won the Insurance Law Firm of the Year award at the ALB Hong Kong Law Awards 2024, apart from being the sponsor of the Insurance In-House Team of the Year award. Edwin Northover, Asia-based corporate partner and head of the firm’s financial institutions and corporate practices in Asia, talks about the firm's recent achievements, trends in the insurance industry, and future outlook for insurance law in Hong Kong.

Other News

Kramer Levin and Herbert Smith Freehills plan latest law firm mega-merger

by Reuters |

U.S. law firm Kramer Levin Naftalis & Frankel and global legal giant Herbert Smith Freehills are planning to merge to create a firm with more than 2,700 lawyers, according to a joint statement on Monday.

Other News

Tokyo International makes Singapore debut with SE Asia in its sights

by Sarah Wong |

Japanese boutique Tokyo International Law Office (TKI) is set to establish its first overseas outpost with the opening of a Singapore office in January 2025, marking a significant milestone in the rapidly expanding firm's global strategy.