Muscat: Sohar Global mentioned it has won the Central Financial institution of Oman’s preliminary approval to open a consultant place of work in Hong Kong (HK), because the financial institution pushes to support hyperlinks with Asian markets and enhance shoppers with cross-border pursuits.
The financial institution mentioned the approval used to be granted on December 25, 2025, noting that the transfer stays topic to securing all required clearances and licences from the related government in Hong Kong, along compliance with acceptable laws in each jurisdictions.
A consultant place of work is normally a non-transactional presence thinking about marketplace building and shopper liaison quite than deposit-taking or daily banking process.
Hong Kong’s Financial Authority notes that native consultant workplaces of in another country banks aren’t allowed to interact in banking industry, with their function in large part confined to liaison paintings.
The Hong Kong step comes after a length of main trade for Sohar Global at house and within the area.
The financial institution finished its merger with HSBC Financial institution Oman, efficient August 17, 2023, following shareholder and regulatory approvals. HSBC, in the meantime, has maintained a unbroken presence within the Sultanate of Oman via HSBC Financial institution Center East Restricted — Oman Department, which opened in Would possibly 2024, in line with HSBC’s Oman profile.
Financially, the financial institution has pointed to persevered scale-up following the merger. A financial institution investor briefing reported that overall property stood at RO 7.361 billion as of December 31, 2024. In its H1 2025 monetary commentary, overall property had been reported at RO 7.877 billion at end-June 2025, with buyer deposits at RO 6.313 billion.
Credit score rankings have additionally been in center of attention. Fitch Scores mentioned it upgraded Sohar Global Financial institution’s Lengthy-Time period Issuer Default Ranking to ‘BB+’ from ‘BB’ with a strong outlook on December 11, 2025.
Sohar Global mentioned it is going to supply updates in keeping with disclosure necessities because the Hong Kong procedure strikes via the following regulatory levels.
