Bank Sohar has named Sasi Kumar as acting chief executive, the Omani lender said in a bourse statement. Kumar will assume the role effective 29 June. The appointment comes after the bank's previous acting chief executive, Rashad Ali al-Musafir, resigned for personal reasons on 31 May, although he will serve a notice period. Bank Sohar has been in talks with larger rival Bank Dhofar over a potential merger since 2013. On Wednesday, the duo said they had agreed on the share swap ratio for the tie-up. (Reuters)
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