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Bank Muscat Plans Expansion In India Through Stake Purchase In IDBI Bank

Bank Muscat announced on 19 September that it is in negotiations topurchase a 20% stake in Indias IDBI Bank, a private sector entity. Bank Muscatschief executive in India, Samit Ghosh, confirmed to Reuters that thepurchase is expected to be completed by the end of the year and said that amerger with a local bank was more effective than expanding the banksoperations independently which...