RNS Number : 6726Z
BankMuscat (S.A.O.G)
15 January 2024

Date: 15 January 2024

Subject: Bank Muscat Obtains In-principal Regulatory Approval for Strategic Investment Portfolio

Bank Muscat wishes to inform the market that it has received an in-principal approval from the Central Bank of Oman to setup a wholly owned Strategic Investment Portfolio (SIP) and invest up to RO 150 million. This investment portfolio is part of the enterprise growth strategy of the Bank, focusing on business and revenue diversification to create enhanced shareholder value. As per the mandate of this portfolio, the Bank will invest in various listed banks in the GCC with the aim of benefiting from the general growth trajectory of the GCC banking sector. The Bank endeavors to build this portfolio gradually over the next few years depending on opportunities available in the market.

Waleed K. Al Hashar

Chief Executive Officer

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
MSCSFFSWIELSEEF