With innovation, agility, and excellence governing all aspects of its operations, Sohar International has maintained an undisputed leadership stance in the retail banking segment in Oman. As a testament to the same, the bank was recently awarded the coveted title of “Best Retail Banking - Oman 2022” in the latest round of awards by World Economics Magazine. Following stringent selection criteria, these awards acknowledge the efforts of institutions that have demonstrated utmost dynamism and pushed their boundaries to effectively engage with and serve prospective customers while demonstrating effective environmental, social, and governance strategies.
Sohar International’s resilient growth strategy, unfaltering efforts toward digital transformation, and keen focus on continuously enhancing its product and service portfolio have been critical factors in helping the bank increase its gross retail revenue. Despite the various hurdles posed by the pandemic, the bank was able to record phenomenal growth across different parameters such as overall customer base growth, increase in asset size, expansion in network and enhanced performance.
Commenting on the award, Mr. Khalil Salim Al Hedaifi, Chief Retail Banking Officer at Sohar International said, “To be recognised by the World Economics Magazine is an incredible validation of our endeavours. It also attests to the unfaltering dedication of our team who have remained steadfast in their ambition to set new benchmarks in the sector. At Sohar International, we pride ourselves on being a customer-centric bank and will remain grateful to our retail banking customers for their unending loyalty and for inspiring us to scale new heights.”
“Sohar International has built a robust infrastructure that focuses on delivering premium banking services to its customers. The bank has remained at the forefront of continuously conceptualising transformational, unique, and industry-first solutions that not only compliment the various lifestyle needs of our customers but add value to society while also contributing to the socio-economic progress of the nation underpinned by environmental, social, and governance strategies” Mr. Al Hedaifi further added.
Sohar International’s retail banking is a fast-growing segment with a comprehensive portfolio of world-class products and services that have gained much reverence in the country. Complementing the bank’s extensive network of state-of-the-art branches and ATMs/CDMs is the bank’s investment in the digital realm. Sohar International has been a pioneer in leveraging its digital banking channels to provide a seamless, secure, and convenient banking experience for customers. The bank has therefore been able to drive meaningful engagement with clients and fortify its bonds.
While the bank has recorded an upward trajectory in revenues, showcasing consistent profitability and growth, Sohar International has also placed keen emphasis on sustainability. Taking a holistic approach to growth, the bank maintains the highest levels of operational efficiency, adheres to international best banking practices, and observes transparency in all its offerings. With a vision to become a world-leading Omani service company, Sohar International strongly believes in growing with the nation and the communities it serves.
Sohar International was recently ranked the ‘Fastest Growing Bank’ in the Large Banks Category and ‘Excellence in Digital Transformation’ by the highly coveted Best Banks Survey at the Oman Banking and Finance Awards. The Global Business Review Magazine Awards 2022 honoured Sohar International with the title of ‘Best Corporate Banking – Oman 2022’. In addition, the bank was conferred with the title of the ‘Best Campaign to Promote Tourism’ at the Second Arab Forum for Tourism and Heritage for the bank’s initiative in 2021 and 2022 titled ‘In Oman We Win’ and ‘Take It From Us’ respectively.