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.
The bank’s management has been working towards achieving that exit, NBO said in a statement, noting that it is anticipated to happen by the end of the first quarter of 2020.
NBO is the third largest listed bank by market capitalization on Muscat securities market, behind Bank Muscat and Bank Dhofar.
(Writing by Gerard Aoun; editing by Seban Scaria)
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