Financial and Banking News
NBO Increases Capital to $43mn
The National Bank of Oman (NBO), which is the largest commercial bank operating in the Sultanate of Oman, is increasing its capital from R011mn to RO15mn ($43.3mn). The capital increase is being effected by a rights issue giving four new shares for every 11 shares held. NBO's total shareholders' funds at the end of 1983 amounted to R014.4mn ($41.7mn), having increased by an average 36% over the two...