Bank of Baroda has approved the sale of its Oman operations to Bank Dhofar. The deal is set to proceed once regulatory approvals are obtained. As of March 31, 2024, the total business of the Oman operations stood at OMR 113.35 million, with a net worth of OMR 25.54 million.
Details about the sale agreement, expected date of completion, and consideration for the transaction have not yet been decided. The sale is not a related party transaction and does not constitute a slump sale.
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Bank of Baroda