MUSCAT -  Leading Omani banking institution, Sohar International Bank SAOG, has announced that it is exploring the opening of a representative office in either Hong Kong or the People’s Republic of China, in a move aimed at deepening access to Asia’s trade and capital flows.

The plan is at an early stage and remains subject to internal assessments, regulatory approvals in Oman and the host market; and compliance with applicable laws, according to a market disclosure signed by Chief Executive Officer Abdul Wahid bin Mohamed al Murshidi.

The bank said the Asia-Pacific region, particularly Hong Kong and mainland China, is a key hub for cross-border investment, trade facilitation and collaboration with Asian financial institutions. A representative office typically focuses on relationship-building, business origination and market liaison, rather than taking deposits or conducting on-the-ground lending.

Sohar International said it will update the market when material developments occur, in line with disclosure requirements.

The Asia initiative comes alongside a sharper regional expansion in the Gulf. The bank has broadened its GCC footprint, including entry into Saudi Arabia, to strengthen links with corporates, investors and financial institutions. It has also signed a non-binding agreement to acquire up to 55% of Saudi-based Neo Group Limited, subject to due diligence and regulatory approvals, in a step designed to extend advisory and investment services in the Kingdom.

At home, Sohar International is pursuing a 100 per cent acquisition of Insurance House LLC (Bima), a fully digital insurance marketplace in Oman. The proposed transaction is at a preliminary stage and remains contingent on regulatory clearances and customary conditions. The bank views digital distribution and embedded financial services as a growth channel for retail and SME customers.

Sohar International has complemented its geographic and product expansion with moves across capital markets and the real economy.

Recent actions include a consolidated loan facility to Liva Group to support the insurer’s regional growth and a memorandum of understanding for credit facilities with Al Mouj Muscat to advance strategic real-estate development. The bank has also entered a strategic relationship with BNY Mellon to enhance custody and securities-services capabilities; and it has supported the rollout of Google Pay in Oman as part of a broader push in digital payments.

For Oman, deeper financial connectivity with Asia supports Oman Vision 2040 objectives to attract foreign investment, scale non-oil exports and integrate local firms into global value chains. A presence in Hong Kong or mainland China would shorten the distance between Omani clients and Asian counterparties, while the GCC build-out and planned acquisitions are intended to widen origination in trade finance, advisory and investment products.

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