BUZZ: Oman's Al Izz Islamic Bank climbs on merger hope

Shares in Oman's Al Izz Islamic Bank rise 3.9 pct to 0.080 rial in early trade, Oman International Development and Investment Co (OMINVEST) drops 3.2 pct to 0.360 rial.

The companies said Oman Arab Bank, an OMINVEST subsidiary, proposed to Al Izz a strategic collaboration that might lead to eventual merger of the two banks; no details disclosed.

Oman Arab Bank had total assets of 2.14 billion rials ($5.56 billion) at end-2017, Al Izz 634 million riyals as of March 31.

Oman stock index edges up 0.1 pct.

(Reporting by Andrew Torchia) ((andrew.torchia@thomsonreuters.com; +9715 6681 7277; Reuters Messaging: andrew.torchia.thomsonreuters.com@reuters.net))