Commercial Bank Investment and Financial Highlights
Strategic investment in National Bank of Oman (NBO)
Transaction
Highlights
CB holds 34.9% stake in NBO, acquired in 2005
Acquisition in-line with business/geographic diversification strategy
NBO Key Highlights
Oman's 1st local bank; in operation since 1973
The bank is the 3rd largest bank by total assets in Oman at USD 9bn
as at 30 September 2019
As at 30 September 2019 NBO had approximately 11.8% market
share in loans and 11.4% market share in deposits in Oman.
Presence in Oman (66 branches); 1 branch each in Egypt, Abu Dhabi
and Dubai
Full service bank, with strong franchise in corporate and retail
banking
ā1st bank in Oman to introduce online banking
ā Consumer segment offers SMS banking and salary cards
Offers real-time access to account information through its
"SAMA" Corporate Internet Banking platform
Sadara offering (premier banking)
Recent Updates
CB announced that it will not support the merger of NBO with Bank
Dhofar as it was not considered beneficial for NBO in the long term.
Hence NBO did not go ahead with the merger.
Major Shareholders
Ministry of
Defence
8.0%.
Civil Service
Employees
Pension Fund
11.3%
Public
31%
CB
34.9%
Suhail Bahwan
Group Holding
LLC
14.7%
Sharing best practices within the Group i.e. risk management, product innovation, IT, finance and training
40
40View entire presentation