IslamicFinance.de

Bank Dhofar, has announced the resignation of its chief executive Anthony Mahoney for personal reasons, effective September 26. The Omani lender has appointed Abdul Omar Al-Ojaili as its acting chief executive. Bank Dhofar is planning to merge with Bank Sohar with a view to creating Oman’s second-largest bank. The new entity would have total assets worth 4.1 billion rials ($10.7 billion), according to quarterly financial statements, and a market capitalisation of around $1.8 billion. Bank Dhofar shares have risen 14 per cent year-to-date.