Published: May 11, 2010
Press reports have “no basis in fact” says Oman lender.
Oman’s BankMuscat has denied press reports that it is considering selling some of its foreign assets.
Last week, newswire Reuters said two unnamed bank officials had confirmed the plans. The report pointed to the bank’s stakes in BMI Bank in Bahrain, Pakistan's SilkBank, India's Mengal Keshav Holdings and Muscat Securities House in Saudi Arabia.
BankMuscat, however, has issued a statement saying that although it “regularly explores strategic alternatives”, the Reuters report has “no basis in fact”. “The bank confirms that it currently is not considering any sale of its strategic foreign investments,” it added.