NBO was established in 1973 to provide conventional and Islamic banking services. It serves over 500,000 retail customers and 25,000 corporate and SME customers through 66 branches. The bank has two overseas branches in the U.A.E. In November 2022, it completed the issuance of $134.1 million in additional tier 1 capital securities. The bank had total assets worth $11.2 billion in 2022. The Commercial Bank of Qatar and the Omani billionaire Suhail Bahwan are among the bank’s major shareholders, with 34.9% and 14.75% stakes, respectively.