Latest news with #AhliBank
Observer
28-06-2025
- Business
- Observer
MSX sees RO 53.3 million market cap gain
MUSCAT: The Muscat Stock Exchange (MSX) recorded a weekly market capitalisation gain of RO 53.3 million, reaching RO 28.274 billion by the close of trading on Thursday. Although the main index posted only a modest rise, closing at 4,507 points, sectoral indices showed mixed performance. The industrial index led with an 84-point gain, followed by the financial index, which added 19 points. The Shariah index rose by 3 points, while the services index remained unchanged. Trading activity increased by 5.2 per cent, with the total value reaching RO 68.3 million. However, the number of transactions declined slightly to 8,626 from the previous week's 9,389. Omani individual investors showed renewed interest, accounting for 26.6 per cent of trading value. Bank Muscat remained the most active stock, rising to 275 baisas after strong demand and contributing RO 12.5 million in trades. Other major contributors included OQ Base Industries (RO 11.4 million), Asyad Shipping (RO 10.2 million), OQ Gas Networks (RO 8.5 million), and Bank Sohar International (RO 8.34 million). Bank Sohar and Ahli Bank announced the postponement of their proposed merger due to pending regulatory approvals. Ahli Bank will instead proceed with a rights issue to raise RO 50 million. Bank Sohar's shares dipped by one baisa to 139, while Ahli Bank rose by three baisas to 158. Among the top gainers, Arabia Falcon Insurance surged by 17.3 per cent, followed by Oman Investment and Finance Company at 13.1 per cent. Muscat Insurance also rose 10 per cent. The biggest loser was Oman Qatar Insurance, which declined by 9.6 per cent. In total, 39 stocks posted gains, 26 fell, and 22 remained unchanged, reflecting a relatively balanced market sentiment. — ONA
Zawya
24-06-2025
- Business
- Zawya
Oman: Ahli Bank halts merger talks, revives $129mln capital plan
MUSCAT: Ahli Bank SAOG has announced the postponement of its proposed merger with Sohar International Bank SAOG due to a lack of necessary regulatory approvals, the lender disclosed in a market statement on Sunday. The Board of Directors of Ahli Bank resolved to suspend further discussions with Sohar International until further notice. The merger proposal, initially announced in April 2025, was part of a broader consolidation trend in Oman's banking sector aimed at improving operational scale and competitiveness. 'In light of this development,' the bank stated, 'and in alignment with the Bank's capital planning objectives, the Board has also resolved to proceed with a capital increase through a rights issue of OMR 50 million.' This capital raise, previously announced and later suspended due to the merger talks, is now being revived. Ahli Bank confirmed it will undertake all necessary steps to implement the rights issue, including seeking required regulatory approvals. The bank reiterated its commitment to transparency, stating: 'Ahli Bank will continue to disclose any material developments to the market in accordance with applicable laws and disclosure regulations.' 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Observer
23-06-2025
- Business
- Observer
Ahli Bank halts merger talks, revives OMR 50m capital plan
MUSCAT: Ahli Bank SAOG has announced the postponement of its proposed merger with Sohar International Bank SAOG due to a lack of necessary regulatory approvals, the lender disclosed in a market statement on Sunday. The Board of Directors of Ahli Bank resolved to suspend further discussions with Sohar International until further notice. The merger proposal, initially announced in April 2025, was part of a broader consolidation trend in Oman's banking sector aimed at improving operational scale and competitiveness. 'In light of this development,' the bank stated, 'and in alignment with the Bank's capital planning objectives, the Board has also resolved to proceed with a capital increase through a rights issue of OMR 50 million.' This capital raise, previously announced and later suspended due to the merger talks, is now being revived. Ahli Bank confirmed it will undertake all necessary steps to implement the rights issue, including seeking required regulatory approvals. The bank reiterated its commitment to transparency, stating: 'Ahli Bank will continue to disclose any material developments to the market in accordance with applicable laws and disclosure regulations.'
Zawya
23-06-2025
- Business
- Zawya
Oman's Sohar, Ahli Bank postpone merger talks due to regulatory delays
Sohar International Bank and Ahli Bank SAOG have decided to postpone their proposed merger after failing to receive the necessary regulatory approvals. In April, the two banks had announced plans to merge, aiming to create the largest lender in Oman with combined assets of nearly $30 billion. In a filing to the Muscat Stock Exchange on Monday, Ahli Bank said that to meet its capital objectives, it will proceed with a capital increase that was initially announced in March but later suspended when merger discussions began. Ahli Bank will now move forward with a rights issue worth 50 million Omani rials ($130 million). Banks across the GCC have increasingly been exploring consolidation as a strategic move to enhance competitiveness and resilience. In August 2023, Sohar International Bank completed the takeover of HSBC Bank Oman. (Writing by Brinda Darasha; editing by Seban Scaria)
Zawya
09-05-2025
- Business
- Zawya
Qatar: Aqarat signs MoUs with several entities
DOHA: The General Authority for Regulating the Real Estate Sector – Aqarat held a press conference during which several memorandums of understanding (MoUs) were signed in the presence of Eng. Khalid bin Ahmed Al-Obaidli, Chairman of the Authority. During the event, several banks were officially approved to implement the real estate development escrow account procedures for off-plan sales projects to protect all stakeholders' rights. Eng. Khalid bin Ahmed Al-Obaidli emphasized that these partnerships represent an important step toward achieving the Authority's vision of regulating and empowering the real estate sector. He stated: 'We are working with our partners to build an integrated system that supports sustainable investment and keeps pace with global developments, in a way that serves the national economy and contributes to achieving Qatar National Vision 2030.' It is worth noting that the General Authority for Regulating the Real Estate Sector oversees the regulation and development of the sector to ensure its transparency and prosperity, in cooperation with relevant entities. An MoU was signed with Ahli Bank regarding the activation of escrow accounts. Hassan Ahmed Al-Efrangi, CEO of Ahli Bank, stated: 'Ahli Bank is proud to be one of the first financial institutions to sign this MoU with the General Authority for Regulating the Real Estate Sector – Aqarat, which reinforces our commitment to supporting Qatar's economic advancement." "Implementing escrow accounts for real estate projects under construction is a strategic step toward enhancing investor protection, reinforcing transparency, and promoting regulatory excellence." Another MoU was signed with Dukhan Bank regarding the activation of escrow accounts. Commenting on the launch of the 'Real Estate Development Escrow Account' service, Ahmed Hashem, Acting Group CEO of Dukhan Bank, said: 'Our launch of the real estate development escrow account confirms Dukhan Bank's leadership in adopting financial solutions that serve both the community and the real estate market." Additionally, the Authority signed an MoU with the Investment Promotion Agency aimed at forming a strategic three-year partnership to promote promising investment opportunities in the real estate sector and highlight Qatar's competitive advantages to investors. This step supports efforts to attract foreign direct investment and enhance the country's position as a leading and ideal investment destination. Commenting on the signing of the MoU, Sheikh Ali bin Walid Al Thani, CEO of the Investment Promotion Agency, said: 'We are pleased to strengthen our partnership with Aqarat to promote Qatar's dynamic and business-friendly environment, and to highlight the promising opportunities and competitive advantages the sector offers investors." "This cooperation is an important step in supporting the national real estate promotion strategy, as the real estate sector is a key pillar in the journey of economic diversification, in line with the objectives of the Third National Development Strategy,' Sheikh Ali added. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
