Second-largest bank in Oman pursues merger with smaller rival

Second-largest bank in Oman pursues merger with smaller rival

DUBAI –

Oman’s second-largest bank is pursuing a potential merger with its smaller rival, potentially creating a lender with just under $20 billion in assets, according to regulatory filings made on Tuesday.

The filings on the Muscat Stock Exchange show Bank Dhofar’s interest in its smaller rival, Ahli Bank. Bank Dhofar has over $11 billion in assets, while Ahli has under $8 billion.