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Bank Muscat announces $50m exposure to Dubai World
Bank Muscat, Oman’s biggest lender, revealed on Sunday exposure of…
December 6, 2009 4:46 by kippreport
Bank Muscat, Oman’s biggest lender, revealed on Sunday exposure of OMR19.25 million ($50 million) to government-owned conglomerate Dubai World. The amount is the part of a syndicated loan that “continues to be serviced,” the bank announced in a statement to the Muscat Securities Market (MSM).
The bank’s shares fell 8 percent to OMR0.755 at 11.19 am in Muscat, according to Bloomberg.