HSBC Bank Oman S.A.O.G. Overview
Pro stress-test →HSBC Middle East Ltd - Oman Branch is an onshore wholesale banking business with deposit-taking, credit and lending capability for public sector and wholesale clients, operating through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. Following a 2023 merger with Sohar International Bank, HSBC Bank Middle East Limited-Oman Branch opened in May 2024.
Strategic Profile
Pro stress-test →The branch connects internationally focused enterprises in Oman with the rest of the world. HSBC has been present in Oman since 1948 and for two decades was the only bank operating in the country, assisting in the first issue of the Omani currency in 1970.
Competitive Landscape
Pro stress-test →Bank Muscat leads the sector with strong profitability, while Sohar Bank (now parent) reported recent profit declines. HSBC Oman competes with major Omani banks in corporate and institutional banking, though its recent restructuring narrows competitive scope to wholesale segments.
Industry Context
HSBC Bank Oman S.A.O.G. operates in Commercial & Wholesale Banking.
Key facts
Founded: 1948 · Headquarters: Muscat, Oman · Employees: 891