Oman – Mubasher: The National Bank of Oman (NBO) announced on Tuesday that it will not proceed with the deal to acquire United Finance Company's (UFC) operations.

After careful consideration, the bank said it will not pursue this transaction further, NBO said in a filing to the Muscat Securities Market (MSM), adding that it expresses its regret for not carrying on with the acquisition.

NBO previously reported a 21.5% surge in profits for the fiscal year 2014 to $130.7 million.