Sohar International gets initial nod for HK representative office
Muscat: Sohar International said it has received the Central Bank of Oman’s initial approval to open a representative office in Hong Kong (HK), as the bank pushes to strengthen links with Asian markets and support clients with cross-border interests.
The bank said the approval was granted on December 25, 2025, noting that the move remains subject to securing all required clearances and licences from the relevant authorities in Hong Kong, alongside compliance with applicable regulations in both jurisdictions.
A representative office is typically a non-transactional presence focused on market development and client liaison rather than deposit-taking or day-to-day banking activity.
Hong Kong’s Monetary Authority notes that local representative offices of overseas banks are not allowed to engage in banking business, with their role largely confined to liaison work.
The Hong Kong step comes after a period of major change for Sohar International at home and in the region.
The bank completed its merger with HSBC Bank Oman, effective August 17, 2023, following shareholder and regulatory approvals. HSBC, meanwhile, has maintained a continuing presence in the Sultanate of Oman through HSBC Bank Middle East Limited — Oman Branch, which opened in May 2024, according to HSBC’s Oman profile.
Financially, the bank has pointed to continued scale-up following the merger. A bank investor briefing reported that total assets stood at RO 7.361 billion as of December 31, 2024. In its H1 2025 financial statement, total assets were reported at RO 7.877 billion at end-June 2025, with customer deposits at RO 6.313 billion.
Credit ratings have also been in focus. Fitch Ratings said it upgraded Sohar International Bank’s Long-Term Issuer Default Rating to ‘BB+’ from ‘BB’ with a stable outlook on December 11, 2025.
Sohar International said it will provide updates in line with disclosure requirements as the Hong Kong process moves through the next regulatory stages.
