MUSCAT, APRIL 7 Sohar International Bank SAOG said on Monday it had submitted a letter of intent to Ahli Bank SAOG proposing a merger by incorporation, a move that would consolidate the two lenders’ assets and liabilities under a single entity.
The proposed transaction, approved by Sohar International’s board at a meeting held on April 7, would see shareholders of Ahli Bank receive shares in Sohar International, with a swap ratio to be determined based on the audited book values of both banks as of December 31, 2024.
Sohar International said the potential merger aimed to create a larger and more competitive institution with enhanced domestic positioning, broader service offerings, and improved shareholder liquidity.
“The combination represents a compelling opportunity for stakeholders through the creation of a fully-scaled bank,” the lender said in a disclosure.
The board said the merger was expected to deliver revenue and cost synergies, as well as operational efficiencies, though no further financial details were disclosed.
The proposed deal remains subject to regulatory approvals, shareholder consent, and further due diligence. If successful, it would mark a major consolidation move within Oman’s banking sector amid growing regional trends toward scale and resilience.
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