Sohar International Bank to apply for license to open branch in Saudi Arabia

Logo of Sohar International Bank

Sohar International Bank, which is listed on Muscat Stock Exchange (MSX), is set to apply for a license to open a full-fledged branch in Saudi Arabia, according to a statement.

Updates will be duly revealed, the statement added.

According to data available on Argaam, as many as 16 foreign banks are currently operating in the Kingdom, including Emirates NBD (six branches), Gulf International Bank (three branches), National Bank of Kuwait (three branches), First Abu Dhabi Bank (three branches), as well as one branch each for BNP Paribas of France, Deutsche Bank of Germany, Bank Muscat, National Bank of Bahrain (NBB), and JPMorgan Chase & Co. of the United States, Pakistan National Bank, Ziraat Bank of Turkey, Qatar National Bank, Industrial and Commercial Bank of China, Tokyo-Mitsubishi UFJ, Credit Suisse Group and Standard Chartered.