Sohar International shareholders vote to approve merger with HSBC Oman

Muscat: Sohar International Bank SAOG (Sohar International) shareholders vote to approve merger with HSBC Bank Oman SAOG (HSBC Oman).

Following discussions which began in June 2022, Sohar International and HSBC Oman have been working closely on a proposed merger.

The shareholders of Sohar International Bank voted in favour of the merger with HSBC Bank Oman at the Extraordinary General Meeting (EGM) held on June 20. The shareholders of HSBC Bank Oman have also voted to approve the merger.

Sohar International is working closely with HSBC Bank Oman to ensure a smooth process to minimise disruption, if any, to HSBC Bank Oman customers and, together, have set a tentative target date of August 17, 2023, as the date of completion of the merger.

This timeline remains subject to all formal steps and actions being completed without any delays on account of factors beyond the control of Sohar International and HSBC Oman. If it changes, Sohar International will let know.
On completion of the merger, HSBC Oman customers and employees will automatically transfer to Sohar International and the existing HSBC Oman entity will be dissolved.

Communications will shortly be issued to all customers. Further announcements on any material developments will be made as required.