Bank Muscat plans Indian exit

Bank Muscat plans Indian exit

Published: November 10, 2013

Omani bank weighs up options for selling its stake in securities firm Mangal Keshav.

The management team at Oman's Bank Muscat is weighing up exit options for its investment in an Indian securities firm.

In a statement to the Muscat Securities Market, the bank announced that its directors had approved a sale of its 45.7% stake in Mangal Keshav Securities, adding that various exit routes will be considered including a share buyback by the company.

Mangal Keshav's website describes Bank Muscat as the firm's “strategic partner”.