5 days ago
Oman: Ahli Bank halts merger talks, revives $129mln capital plan
MUSCAT: Ahli Bank SAOG has announced the postponement of its proposed merger with Sohar International Bank SAOG due to a lack of necessary regulatory approvals, the lender disclosed in a market statement on Sunday.
The Board of Directors of Ahli Bank resolved to suspend further discussions with Sohar International until further notice. The merger proposal, initially announced in April 2025, was part of a broader consolidation trend in Oman's banking sector aimed at improving operational scale and competitiveness.
'In light of this development,' the bank stated, 'and in alignment with the Bank's capital planning objectives, the Board has also resolved to proceed with a capital increase through a rights issue of OMR 50 million.' This capital raise, previously announced and later suspended due to the merger talks, is now being revived.
Ahli Bank confirmed it will undertake all necessary steps to implement the rights issue, including seeking required regulatory approvals.
The bank reiterated its commitment to transparency, stating: 'Ahli Bank will continue to disclose any material developments to the market in accordance with applicable laws and disclosure regulations.'
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