NBO, Ominvest ink OMR80mn credit facility agreement

Times News Service

MUSCAT: National Bank of Oman (NBO) and Oman International Development and Investment Company (Ominvest) have signed a long-term secured credit facility agreement for OMR80 million to support Ominvest’s initiative for diversification and long-term growth in the Sultanate of Oman.

“This agreement highlights NBO’s ability to structure tailormade financing solutions for large-scale and multinational corporations and further cements our partnership with Ominvest. NBO continues to support strategically important private sector organisations which are instrumental for the future growth of key sectors of the economy,” said Nasser Salim Said Al Rashdi, General Manager, Chief Commercial Banking Officer at NBO.

Abdulaziz Al Balushi, Group Chief Executive Officer at Ominvest said: “The credit facility with NBO offers us the financial flexibility and strength to grow and expand the group’s investment portfolio across various strategic business segments. We value the ongoing support of NBO and look forward to growing from strength to strength together.”

NBO enjoys a long-standing history and proven track record in supporting business and making banking more convenient and accessible. The Bank’s comprehensive suite of products and services with corporate lending channels that are underpinned by rigorous due diligence and credit assessment processes.