• Oman

    • Sohar International Bank shareholders vote to approve merger with HSBC Bank Oman

    By on June 21, 2023

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

    We can confirm that the shareholders of Sohar International Bank voted in favour of the merger with HSBC Bank Oman at the Extraordinary General Meeting (EGM) held on 20th June 2023. The shareholders of HSBC Bank Oman have also voted to approve the merger.

    We are working closely with HSBC Bank Oman to ensure a smooth process to minimize disruption, if any, to HSBC Bank Oman customers and, together, have set a tentative target date of 17th August 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, we will let you 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.

     

     

    more recommended stories

    Terms of Use:

  • This website Arabian Daily is an individual’s property, not used for any commercial or sales purposes. What you see here are one’s random thoughts in action. I, by no means, endorse any product or party through this, unless stated explicitly.
  • All work you will find here is copyrighted unless stated otherwise. No part of this work can be reproduced in any way with the exception of a) if you share our work, it should link back to this website; b) if you quote any part of our work, it should be properly credited to us with a link to this website.
  • All images used on this website have been taken from open source image websites on the Internet. If any of them are copyrighted to you and you want us to take them down or add credits, please feel free to contact us here, or by using the contact form on this page.
  • The views expressed on Arabian Daily are solely ours. They do not represent any party or any particular school of thought. This website does not promote racism in any form.
  • Privacy Policy:
    This website will respect the readers’ and the writer’s privacy. We do not sell any of their personal or contact information to another company. We do not put your information on spam lists. Also, and more importantly, we are not responsible for the privacy practices of any of our advertisers or website commenters.
  • Reserve Rights: We reserve the right to change the focus on this website, to shut it down, sell it or to change the terms of use at our own discretion.