NBO and Ominvest sign deal for RO80mn credit facility

April 10, 2019

National Bank of Oman (NBO) and Oman International Development and Investment Co (Ominvest) have signed a long-term secured credit facility agreement for RO80mn to support Ominvest’s initiative for diversification and long-term growth in the sultanate. 

“This agreement highlights NBO’s ability to structure tailor-made financing solutions for large-scale and multinational corporations and further cements our partnership with Ominvest. NBO continues to support strategically important private sector organisations, which are instrumental for the future growth of key sectors of the economy,” Nasser Salim Said al Rashdi, chief commercial banking officer at NBO, said in a press statement.

Abdulaziz al Balushi, group chief executive officer of Ominvest said, “The credit facility with NBO offers us the financial flexibility and strength to grow and expand the group’s investment portfolio across various strategic business segments. We value the ongoing support of NBO and look forward to growing from strength to strength together.”

National Bank of Oman said its comprehensive suite of products and services with corporate lending channels that are underpinned by rigorous due diligence and credit assessment processes, makes it the ideal partner of choice for mid and large-sized corporations and multinationals.