Oman banks may face more provisions on Saudi - c.bank

Oman's central bank governor said on Monday that banks in his country may need to take additional provisions on bad debt due to exposure to troubled Saudi conglomerates.

"It depends on how things progress. At the moment they have taken enough provisions but you can never say," Central Bank of Oman Executive President Hamood Sangour al-Zadjali told Reuters on the sidelines of a meeting of Arab central bank governors in Abu Dhabi. Bank Muscat, Oman's biggest bank, said on June 11 that Saudi groups Saad and Ahmad Hamad Algosaibi & Bros owed the lender and its unit in Bahrain a combined 66 million Omani rials ($171.4 million).