MUSCAT: Oman Arab Bank has marked a significant milestone by raising its authorised capital to OMR 500 million and increasing its paid-in capital by an additional OMR 50 million through a well-executed rights issue. This capital enhancement reflects the bank’s strategic vision to fortify its financial standing and expand its ability to support national economic development. By strengthening its capital base, Oman Arab Bank aims to maintain robust liquidity, meet growing demand for credit, and provide solid backing for major projects across various sectors.
The increase in capital empowers the bank to boost its lending portfolio, enabling it to serve key industries more effectively and finance large-scale infrastructure and development projects vital to Oman’s growth ambitions. This move also aligns with the bank’s commitment to supporting small and medium-sized enterprises (SMEs), which are crucial drivers of job creation and economic diversification. Enhanced financial capacity allows the bank to offer competitive loan products and tailored financial solutions that cater to evolving market needs.
In addition to expanding its lending capabilities, the capital increase provides the necessary resources to invest in cutting-edge banking technologies and digital transformation initiatives. Oman Arab Bank recognizes the importance of staying ahead in the rapidly changing financial landscape by enhancing its digital banking services and introducing innovative products. These advancements aim to deliver greater convenience, security, and efficiency to customers while keeping pace with global banking trends.
The rights issue and capital boost signify investor confidence in Oman Arab Bank’s long-term strategy and growth potential. By reinforcing its capital structure, the bank is well-positioned to weather economic fluctuations, comply with regulatory requirements, and pursue sustainable expansion. As the bank continues to build on its strong foundation, it remains committed to supporting Oman’s Vision 2040 objectives by contributing to economic resilience, fostering financial inclusion, and driving innovation in the banking sector.
