Sohar International was recognized as the ‘Best Performing Company’ at the Alam Al-Iktisaad Awards 2024, showcasing exceptional growth and commitment to Oman’s economy.
Table of Contents
Sohar International, Oman’s leading financial institution, has been honored as the ‘Best Performing Company’ in the Large Cap category at the prestigious Alam Al-Iktisaad Awards 2024.
This recognition, announced during United Securities’ 16th annual survey, reflects the bank’s exceptional performance across key financial metrics and solidifies its Muscat Stock Exchange (MSX) reputation.
A Legacy of Excellence
The accolade underscores Sohar International’s commitment to sustainable growth and profitability, excelling in Revenue Growth, Operating Profit Growth, and Net Profit Growth.
Mr. Ahmed Al Musalmi, CEO of Sohar International, remarked, “This achievement embodies our journey of excellence and reflects our dedication to innovation and customer-centricity.
We aim to set new industry standards and contribute positively to Oman’s economic landscape.”
Impressive Financial Performance
In 2023, Sohar International reported a staggering 101% increase in net profit, reaching RO 70.3 million, alongside a 23% rise in total operating income.
The first half of 2024 continued this upward trajectory, showcasing a 112% growth in net profit and a 107% surge in deposits, demonstrating the bank’s resilience and strategic focus.
Celebrating Achievement
The award ceremony, held on September 25, 2024, at the Sheraton Oman Hotel, was attended by His Excellency Sheikh Sebaa Hamdan Al Saadi, Secretary General of The Secretariat General of National Celebrations, among other dignitaries.
This gathering of industry leaders and key decision-makers celebrated the achievements of top-ranking companies in Oman.
Continued Recognition and Future Goals
Beyond this accolade, Sohar International was recognized as ‘Best Mobile App Oman 2024’ and named Oman’s Best Bank by the Middle East Euromoney Awards for Excellence.
As the bank continues to innovate and expand its offerings, it remains dedicated to supporting the growth of Oman’s economy and enhancing the well-being of its communities.
Looking Ahead
With a clear vision for the future, Sohar International is poised to further its impact in the banking sector.
The bank’s commitment to excellence and innovation will undoubtedly guide it as it navigates the evolving financial landscape in Oman.
About The Author
