The Commercial Bank (P.S.Q.C.) (the Offeror) yesterday announced an offer to all of the shareholders of the National Bank of Oman (NBO) (the Offeree) to acquire an additional 15.2 percent of the issued capital of the Offeree.
The Bank said pursuant to Article 2 of the Merger & Acquisition Rules of the QFMA (the “Rules”), we are required to disclose certain information (unless otherwise defined, definitions have the same meanings as given to them in the Rules), and do so as follows: a. The name of the Offeror Company, its headquarters, objectives, capital, address, names of Top Management members and Major Shareholders and the shareholding percentage of each of them in the Offeree Company.
It is worth noting that the Commercial Bank was established in 1975 and was listed on Qatar Stock Exchange in 1997, and the authorized capital, paid-up capital and total number of subscribed shares are QR447,253,750.
In 2020, Commercial Bank was recognized by major international awarding bodies and received over 15 awards highlighting the Bank’s immense efforts in innovation, digital banking, leadership, social media, cash management, and transaction banking.
In recognition of its innovative digital services in the regional market, Commercial Bank was awarded The Banker’s award for "Innovation in Digital Banking" in the Middle East for 2020.
