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BMI announces significant increase in total equity

Bahrain: Wednesday, February 27 - 2008 at 13:18
PRESS RELEASE

Bahrain based, BankMuscat International (BMI) today announced that it had increased its total equity (share capital and reserves) to BD133.5m, an increase of 247% from the BD38.5m as at 31st December 2007.

The increase is a result of a fresh injection of BD95m ($250m) from the existing shareholders who reinforced their confidence and commitment to the long term strategy of the Bank. The fresh equity will be used to fund the banks organic growth and provide necessary capital to expand into other regions and markets in line with the strategy

Speaking on the increase, Andrew Bainbridge, Chief Executive Officer of BMI said:

"I am delighted by this financial commitment by our shareholders to our continued growth and to the strategy of BMI. The increased financial strength that this gives BMI enables us to do more for our customers as we seek to support them in their own growth plans. Our ambition remains that of providing great service to our customers and being their first choice partner in financial services."

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Related site: http://www.bmi.com.bh

Notes and media contacts

About BankMuscat International (BMI)

BMI, set up in January 2005, is a Retail Bank, registered in Bahrain and regulated by the Central Bank of Bahrain and offers all retail and commercial banking activities. BMI has been set up in association with some of the strongest and most respected financial institutions from across the GCC region including BankMuscat SAOG (Oman), Royal Court Affairs (Oman), Overseas Investment (Bahrain), Istithmar World Capital (UAE) and Global Investment House (Kuwait). BMI was set up with a vision to become a dynamic regional bank providing innovative and unique financial solutions. BMI recently received its license to open its first overseas branch in Qatar.

For further information, please contact:

Gordon Andrade
Head, Corporate Communications
BMI
Cell: +97339782225

Posted by Eman Hassan
Wednesday, February 27 - 2008 at 13:18 UAE local time (GMT+4)

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BMI announces significant increase in total equity

Bahrain based, BankMuscat International (BMI) today announced that it had increased its total equity (share capital and reserves) to BD133.5m, an increase of 247% from the BD38.5m as at 31st December 2007.

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