OAB raises RO50mn through rights issue

29/09/2025 04:19 AST

Oman Arab Bank (OAB) has announced the successful completion of its rights issue, through which 333,333,333 new shares were issued, raising RO50mn. Following the transaction, the bank's paid-up capital now stands at RO216.941mn, an increase of RO50mn.

In a press statement, OAB said this milestone reflects the strong confidence and trust of its shareholders in the bank's strategy, financial strength, and future growth prospects. The proceeds from the rights issue will further reinforce OAB's capital base, enabling it to accelerate strategic initiatives, enhance digital capabilities, and continue supporting the economic development of the Sultanate of Oman.

Sulaiman al Harthi, Chief Executive Officer of Oman Arab Bank, said, "We are deeply grateful to our esteemed shareholders for their unwavering trust and commitment, which have been clearly demonstrated through the successful completion of this rights issue. This capital increase marks an important step in OAB's growth journey, reinforcing our ability to deliver long-term value to shareholders while driving innovation and supporting Oman's Vision 2040.

"At Oman Arab Bank, we remain committed to providing best-in-class financial solutions, enhancing customer experience, and playing an active role in building a stronger and more sustainable economy."

OAB extended its appreciation to all stakeholders, regulators, and partners for their continued support in the successful completion of this milestone.

Muscat Daily

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