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Ahlibank looking to acquire leasing firm
- Oman: Monday, February 18 - 2013 at 04:12
Oman's Ahlibank is considering the acquisition of a local leasing firm, as the lender seeks to achieve an inorganic growth in view of tough competition in the financial market, Times of Oman has reported. The bank has signed a memorandum of understanding with Taageer Finance to explore the possibility of acquiring the leasing company. The proposal is subject to satisfactory due diligence and obtaining necessary approvals from regulatory authorities and shareholders, both firms said. "The competition is pretty high, so the bank is looking for an inorganic growth. They must have worked on certain synergies," said Kanaga Sundar, senior analyst at Gulf Baader Capital Markets.
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