Oman’s Sohar International Bank targets rival Ahli

Oman’s Sohar International seeks potential merger with Ahlibank

Sohar International Bank, headquartered in Muscat, Oman, has announced its interest in pursuing a possible merger with Ahlibank. The bank’s board of directors has resolved to submit a letter of intent to Ahlibank’s board, proposing the merger. The suggested arrangement would involve the transfer of all Ahlibank’s assets and liabilities to Sohar International. According to a filing with the Muscat Stock Exchange, Ahlibank’s shareholders would rec…

Oman’s Sohar International Bank targets rival Ahli

Sohar International Bank, Oman’s second-biggest bank by assets, has expressed an interest in buying smaller rival Ahli Bank as it seeks to compete with its bigger competitor, Bank Muscat, and others. Sohar International has sent a letter of intent to Ahli, one of the smaller banks in the country. Ahli, which was set up in 2007, has not responded publicly on the move. This would be Sohar International’s second acquisition in less than two years, …