Muscat. Sohar International, Oman’s best bank, was recognized as the Best Performing Bank in Oman 2024 and ranked second among the Best Performing Corporates in Oman at the OER Corporate Excellence Awards 2024, a recognition of its unwavering commitment to operational excellence and strategic innovation. This accolade underscores the bank’s transformative journey, characterized by exceptional financial performance and market leadership. The award highlights Sohar International’s dedication to setting industry standards, further enhancing its position as a key player in the nation’s economic growth. Ms. Nahla Al Kharoosi, Executive Vice President and Head of Client Management at Sohar International, represented the bank in receiving this prestigious recognition.

Mr. Ahmed Al Musalmi, Chief Executive Officer of Sohar International, stated: "Being recognized as the Best Performing Bank in Oman is a testament to our exceptional financial performance, operational excellence, and strategic innovation. This accolade underscores our leadership in driving the banking sector forward while contributing to Oman’s economic growth and diversification agenda. Through a forward-looking strategy, investments in advanced infrastructure, and a relentless focus on delivering innovative, customer-centric solutions, we are redefining industry standards and strengthening our market position. As we build on our achievements in 2024, we remain committed to empowering our customers, creating sustainable value, and driving progress across all levels of the financial ecosystem. This recognition serves as both a milestone and a catalyst, inspiring us to pursue future opportunities with resilience, innovation, and purpose.”

With figures underscoring Sohar International’s exceptional performance, the bank’s profit for the year 2023 increased 101% to RO 70.3 million compared to RO 34.9 million in 2022. Total operating income increased 23% to RO 163.4 million (2022: RO 132.8 million) driven by increases in net interest income and other operating income. Total operating expenses increased 40% to RO 76.9 million (2022: 55.2 million) reflect the Bank's continued investment in people, technology and costs associated with the Bank's strategic initiatives, including the merger and the establishment costs of our new branch in the Kingdom of Saudi Arabia.

As the bank continues to grow, its focus remains on delivering unparalleled value to customers, stakeholders, and the wider community. By embracing innovation, fostering partnerships, and contributing to national priorities, Sohar International is charting a course for sustainable progress and economic resilience.

About Sohar International

With the vision to become a world-class Omani services company that helps customers, community and people to prosper and grow, Sohar International operates with a purpose to help people 'win' by delivering responsive banking for their ever-changing world, complementing their growth and prosperity with international standard service delivery. The Bank seeks to redefine banking in Oman through transformational developments centred on the principles of More Velocity, making everything simple and fast; More Value, ensuring relevance and connectivity to customers’ world; and More Vision, liberating stakeholders through talented leadership. www.soharinternational.com