DUBAI: Bank Dhofar, the sultanate's second-largest bank by market value, said on Tuesday it would begin talks with fellow Omani lender Bank Sohar over a possible merger.
Any potential tie-up would be dependent on a similar desire to merge at Bank Sohar, satisfactory due diligence and the approval of both sets of shareholders and the regulatory authority, Bank Dhofar said in a bourse filing.
In February, Bank Sohar denied it had received any merger proposals from other banks, including Bank Dhofar, in response to local press reports. (Reuters)
