Sohar International Receives ‘Best Bank in Growth’ and ‘Industry Leader in Digital Banking’ Awards at Oman Banking and Finance Awards 2023

Muscat: In a resounding endorsement of its growth ambitions and unwavering commitment to digital transformation, Sohar International has triumphed at the Oman Banking and Finance Awards, cementing its position as the ‘Best Bank in Growth’ and the undisputed ‘Industry Leader in Digital Banking.’ The Oman Banking and Finance Awards was held under the patronage of His Excellency Tahir Al Amri, Executive President of the Central Bank of Oman, in conjunction with the eighth edition of the New Age Banking Summit 2023. Representing Sohar International, Mr. Ahmed Al Musalmi, Chief Executive Officer of Sohar International, attended the event and received the awards on behalf of the bank. The highly anticipated event was held on May 31, 2023, at the Sheraton Oman Hotel.

Elaborating on the bank’s renewed strategy that has been instrumental in cementing its winning position at the Awards and otherwise, Mr Ahmed Al Musalmi, Chief Executive Officer of Sohar International, mentioned: “We are honored to receive this prestigious accolade, recognizing our outstanding growth across various sectors. Since 2018, our bank has embarked on a new journey with a refreshed vision, expanding significantly and contributing to the national economy. The financial results achieved in recent years reflect our remarkable growth, underscoring our commitment to delivering value and prosperity. As the second-largest local bank in terms of total assets, Sohar International is unwavering in its commitment to consolidating its position in the market. Through our persistent efforts to create value for Oman, we aspire to be a trusted institution that contributes to the overall development and success of our nation.”

Sohar International has consistently demonstrated impressive outcomes and robust key indicators, showcasing its successful strategies and sustainable growth. The bank’s strong market performance, accompanied by its impressive financial results, consistently delivers value. Through its customer-centric approach, innovative solutions, and excellent service, Sohar International has earned trust, reputation, and developed remarkable resilience, positioning itself as a prominent player in the banking sector. The company’s efficient resource management has further contributed to its success. Notably, Sohar International has solidified its position as the second-highest bank in Oman in terms of total assets, a remarkable achievement that speaks to the bank’s robust strategy and its ability to navigate through challenging market conditions.

Upon receiving the second award for the bank, Mr. Ahmed Al Musalmi emphases on the bank’s unique approach to spearheading digitalization, “In the ever-evolving landscape of business, digitalization has emerged as the catalyst that propels us forward, revolutionizing the way we operate, connect, and thrive. Embracing digitalization is not just an option; it is an imperative for success in the modern era. It empowers us to unlock new realms of efficiency, agility, and innovation, allowing us to meet the evolving needs of our customers and stay ahead of the curve. Sohar International places a strong emphasis on innovation, fueling its growth and aligning with the digitalization goals of the country. This growth not only benefits our financial performance but also contributes to the betterment of our communities and supports Oman Vision 2040. We strive to create intuitive experiences that cater to the needs of individuals, corporations, and the nation as a whole.”

Sohar International had been the Digital Transformation Partner at the New Age Banking Summit Oman 2023. The summit, themed “Navigating the Digital Age of Banking,” had brought together over 200 professionals from banking, financial services, insurance, and technology companies, C-suite executives, and innovation evangelists. Attendees had the opportunity to gain exclusive insights from industry leaders in banking and fintech. The interactive session aimed to refine strategies and develop a technology roadmap by examining successful case studies.

Sohar International has successfully achieved a harmonious blend of expanding its physical presence and strengthening its digital footprint. Notably, the bank was honored with the ‘Key Enabler of Sustainable Economic Growth’ title at the OER Business Summit 2023 the prestigious Alam Al-Iktisaad ‘Top Omani Brand Award in the Category of Banking’. By supporting projects in different sectors, the bank has helped companies gain access to capital and achieve their objectives, resulting in significant contributions to Oman’s overall economic development.