Financial and Banking News


OOTB Renamed as Muscat Bank 

Oman Overseas Trust Bank (OOTB) has been renamed Muscat Bank after the sale of the remaining 15% stake in its equity held by Hong Kong's Overseas Trust Bank to local investors. The shareholding of Muscat Bank is 66% controlled by Omanis, with the remainder held by Bahraini citizens. Its capital is RO5mn and it has two branches. The bank originated as a branch of the Hong Kong bank, which in April 1982 was...