Oman's largest bank BankMuscat, which recently picked up 43 per cent stake in the domestic brokerage house Mangal Keshav Group
Oman's Bank Muscat, the Gulf Arab state's biggest, said on Saturday it had bought a 26 per cent stake in India's Centurion Bank.\n\n\n\n
The new service, Pravasi, will offer banking solutions for NRIs in India and Oman, with services ranging from basic remittance service, investments in international and Indian funds, wealth management solutions to demat accounts in India and Oman for trading in shares and retirement solutions, the bank said.
Centurion Bank will come up with a rights issue worth Rs 91 crore (Rs 910 million) on July 23, which would raise its capital base to Rs 288 crore by September end this fiscal.