Oman Arab Bank announces increase of authorised capital to OMR 500mln
Muscat, Oman – Oman Arab Bank ('the Bank'), one of Oman's leading financial institutions, announced that its Board of Directors has invited its shareholders to approve an increase in the Bank's authorised capital from OMR 200 million to OMR 500 million. In addition, the Bank will raise its paid‑in capital by OMR 50 million through a rights issue to be underwritten by the Bank's shareholders.
This capital enhancement, which remains subject to regulatory approval, will further strengthen the Bank's capital adequacy ratios, support accelerated growth in retail and corporate lending, and provide a robust platform for continued digital‑banking innovation.
Sulaiman Al Harthi, Chief Executive Officer of Oman Arab Bank, stated, 'The proposed increase in authorized and paid-up capital highlights our strong foundations as a brand. With a larger capital base, we can expand our credit to vital economic sectors, invest in the next generation of digital services, and deliver long-term, sustainable value to all stakeholders. This will pave the way for strengthening the bank's balance sheet, strengthening its Tier 1 capital ratio, and providing the necessary flexibility to weather economic fluctuations.'
The paid‑in capital increase will be executed via a rights issue. Existing shareholders of record as of the book‑closure date (to be announced) will be entitled to subscribe on a pro‑rata basis. The authorised‑capital increase will give the Bank flexibility to undertake additional equity issuances in the future as market opportunities arise, while remaining within prudential limits.
About Oman Arab Bank
Founded in 1973, Oman Arab Bank provide commercial and Islamic banking activities, through its wholly owned subsidiary Alizz Islamic Bank, through 50 branches, 24/7 digital channels, and a network of correspondent banks.
Forward‑Looking Statements
This press release may contain forward‑looking statements. Actual results may differ materially from those expressed or implied. The Bank undertakes no obligation to update forward‑looking statements except as required by law.
Investor Contacts
Investor Relations: Investor.Relations@oman-arabbank.com
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