MUSCAT : “The Board of Directors of Sohar International Bank SAOG (“Sohar International) in its meeting held on the 7th of April 2025 resolved to send a letter of intent to the Board of Directors of Ahli Bank SAOG (“Ahli Bank”) to explore the possibility of a merger between the two banks,” stated the disclosure on Muscat Stock Exchange.

As per the disclosure issued by Sohar International Bank, the proposed merger would be carried out through incorporation. This would result in the transfer of all assets and liabilities of Ahli Bank to Sohar International Bank upon completion of the process. Shareholders of Ahli Bank would receive shares in Sohar International Bank, with a swap ratio to be determined based on the audited financial statements for the fiscal year ending December 31, 2024.

“The Board of Directors of Sohar International believes that combination of Ahli Bank with and into Sohar International represents a compelling opportunity for the shareholders, employees, customers and broader stakeholders of each of the banks through the creation of a larger, more diversified and fully-scaled bank,” the disclosure concluded.

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