Oman’s Sohar International seeks potential merger with Ahlibank

GlobalData

Tue, Apr 8, 2025, 6:08 AM 1 min read

Sohar International Bank, headquartered successful Muscat, Oman, has announced its involvement successful pursuing a imaginable merger with Ahlibank.

The bank’s committee of directors has resolved to taxable a missive of intent to Ahlibank's board, proposing the merger.

The suggested statement would impact the transportation of each Ahlibank's assets and liabilities to Sohar International.

According to a filing with the Muscat Stock Exchange, Ahlibank’s shareholders would person shares successful Sohar International, with the ratio based connected the respective publication values of some banks arsenic reported successful their audited accounts for the twelvemonth ending 31 December 2024.

Sohar International’s committee believes that the merger offers important opportunities for each stakeholders, including shareholders, employees, and customers.

By merging, the banks would make a larger, “more diversified” entity with enhanced capabilities.

The merger is expected to supply a fig of benefits, specified arsenic strengthening the combined institution's competitory presumption wrong Oman’s banking industry.

It would besides broaden the scope of products and services offered to clients.

Moreover, the merger is seen arsenic an accidental to execute revenue, cost, and imaginable maturation synergies.

The merger connection is contingent upon satisfactory owed diligence, support from the boards and shareholders of some banks, and regulatory authorisation.

In a statement, Sohar International Bank said: “The committee of directors of Sohar International is assured that the projected operation provides a singular accidental to physique a larger, much divers and competitory slope from the existing palmy standalone franchises of some banks, enabling the merged entity to vie powerfully and to prosecute concern opportunities for the clients of some banks successful the Sultanate of Oman and overseas.”

"Oman’s Sohar International seeks imaginable merger with Ahlibank" was primitively created and published by Retail Banker International, a GlobalData owned brand.