Sohar International Clinches Top Omani Brand in the Banking Sector Award by Alam Al Iktisaad Magazine

Muscat: Sohar International, the fastest-growing bank in Oman, has been recognized as the ‘Top Omani Brand in the Banking Sector – 2024’ by Alam Al Iktisaad Magazine. This esteemed recognition underscores Sohar International’s unwavering commitment to growth, excellence, innovation, and superior service within the banking industry. The awards ceremony, held under the patronage of His Highness Sayyid Mohammed bin Thuwaini Al Said, took place at the Sheraton Oman Hotel. The ‘Top Omani Brand in the Banking Sector’ Award not only acknowledges the bank’s outstanding contributions but also celebrates its significant achievements, affirming Sohar International as a beacon of trust and reliability in Oman’s dynamic banking sector. Through its dedication to delivering innovative financial solutions, personalized services, and a customer-centric approach, Sohar International has solidified its position as a trusted leader in Oman’s banking landscape, serving as a significant catalyst in propelling the Sultanate’s economy forward. Mr. Mazin Mahmood Al Raisi, Chief Marketing Officer at Sohar International, attended the event on behalf of the bank and received the award.

In response to achieving this significant milestone, Mr. Ahmed Al Musalmi, Chief Executive Officer of Sohar International, expressed his appreciation by stating, “We are honored to receive this prestigious accolade, which acknowledges our leading position within the banking sector of the Sultanate. This recognition stands as a testament to the unwavering dedication and visionary spirit of our esteemed team. Their steadfast commitment to excellence propels us as industry pioneers, compelling us to surpass conventional boundaries and redefine success with each step. This achievement symbolizes not only our relentless pursuit of innovation but also our steadfast devotion to serving our valued customers and communities with utmost integrity and enthusiasm. As the second-largest local bank and the fastest-growing bank in Oman, Sohar International remains steadfast in its commitment to solidifying its position in the market. Through our unwavering commitment to creating value for Oman, we aspire to become a trusted institution that serves as a significant catalyst in propelling the economy and contributing to the overall development and success of our nation.”

The award ceremony convened a distinguished gathering of industry leaders, market experts, CEOs, senior government representatives, and influential decision-makers. These prestigious awards, presented beyond mere financial success, honor the Sultanate’s top-performing companies and celebrate achievements that redefine success. By spotlighting innovation, leadership, and impact, these accolades serve as a cornerstone for strengthening and empowering the financial and business communities.

Sohar International reinforces its dedication to shaping the future of banking, establishing new standards in innovation, and ensuring an unparalleled digital banking experience for its clients. This year, the bank received the award for ‘Highest Year-on-Year Growth in Total Assets among GCC Banks’ for the fiscal year 2023 by Alam Al Iktisaad Excellence Award, reflecting the bank’s exceptional financial performance. Sohar International led all GCC banks in Total Assets, with a remarkable 61.9% year-on-year growth, as highlighted in the latest KPMG report. The bank also received the award for the ‘Most Innovative Digital Bank for Ecosystem Services – Oman 2023’ at The Global Economics Awards in UAE. This achievement solidifies the bank’s leadership in the dynamic landscape of modern banking, emphasizing Sohar International’s unwavering commitment to driving digital transformation with a primary focus on enhancing customer experience. Additionally, Sohar International has earned the prestigious JP Morgan Chase Bank Global Clearing Quality Recognition Awards (MT103 and MT202), acknowledging the bank’s high-quality procedures in SWIFT-based fund transfers, with nearly 99.40% of payments processed seamlessly. As a customer-centric bank, Sohar International remains focused on delivering innovative financial solutions that empower individuals and businesses to thrive and prosper.

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