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As a testament to its success as one of the leading corporates in the country Bank Sohar was once again recognised by the Oman Economic Review (OER), at the OER Top 20 Awardsfor the largest MSM – listed companies during the OER Finance & HR Summit. The prestigious award was presented to the Bank during a glittering soiree held recently at the Sheraton Hotel Muscat.
Held under the auspices of H.E. Dr. Rasheed bin Al Safi Al Hurabi, Chairman of the Oman Tender Board, the OER Finance & HR Summit brought together Finance and HR professionals from the region and explored solutions and choices on issues related to their industries and on current trends and best practices. It also provided insights into the world of performance management, succession planning, cash flow supervision and other related areas.
Representing Bank Sohar at the event were Mr. Mazin Mahmood Al Raisi, Sr. AGM and Head of Marketing and Customer Experienceand Ms. Mahira Saleh Al Raisi, Head of Human Resources, who received the distinguished award on behalf of the Bank.
Commenting on the illustrious award, Mr. Sasi Kumar, Acting CEO of Bank Sohar, said, “This recognition is a good indicator and testimony to the strength of our business despite challenging market conditions. The Bank has witnessed a healthy growth establishing itself as one of the most prominent banks in the country. We are proud to have such a prestigious and coveted accolade conferred on us is a reflection of the Bank’s strong financials in terms of assets, profitability, ratios, growth, its working efficiencies and much more. We thank the organisers for presenting us with the award. We also thank our valued customers without whom we would not be here today; this award represents their constant support and loyalty.”
“The award assumes greater significance in light of the fact that it coincides with the tenth anniversary of Bank Sohar, testifying to the Bank’s remarkable accomplishments and robust financial growth through its ten years of operations in the Sultanate. “Bank Sohar’s business model and the collective efforts of its staff hasresulted in a steady financial performance throughout 2016 despite challenging market conditions caused by prevailing low oil prices.The Bank posted a growth of 43.9 per cent for the period ending March 31 2017, achieving a net profit of OMR 5.992 million as compared to a net profit of OMR 4.163 million during the same period in 2016,” added Mr. Sasi Kumar.
Hailed as the Omani version of the ‘Fortune 500’ global rankings, the winners of the OER Top 20 Awards are chosen from among the top corporate performers listed on the Muscat Securities Market (MSM). The event offers a unique platform to share knowledge and acquire insights on cash flow management, profit maximization, technology, performance measurements and ideas for creating leaner,more dynamic organizations.
This award marks the second recognition the Bank has received in 2017. Earlier this year, it won the distinguished Arab Organization for Social Responsibility Award ‘Golden Order of Merit in the field of CSR’ Award at the 11th Social Responsibility Forum and Awards Ceremony.
For more information on Bank Sohar, please visit the Bank’s official website www.banksohar.net or call 24730000. You can also follow the Bank on Facebook at www.facebook.com/excel.banksohar , on Instagram at www.instagram.com/banksoharexcel or join the conversation on Twitter @banksohar_excel.
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© Press Release 2017
