Sohar International Bank SAOG (BKSB)

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News

16 September 10:17 AM Sohar International backs Oman-GCC energy project via $500m financing

Mubasher: Sohar International has signed a $500 million financing agreement with the Gulf Cooperation Council Interconnection Authority (GCCIA) to support the Oman-GCC electrical interconnection project. The venture is a major infrastructure …

Global Economy

16 October 2018 05:16 PM Profit of Omani banks hikes 12% in Q3

By: Salama Abdel Rahman Mubasher: Profits of banks operating in Oman and listed on the Muscat Securities Market (MSM) witnessed an 11.55% year-on-year increase for the third quarter of 2018. Net profits of eight lenders amounted to OMR 96.59 …

Trading Activities

13 July 2017 11:21 AM Bank Sohar profits go up 20% in Q2

Mubasher: The financial statements of Bank Sohar showed a 20% growth in its profits for the second quarter of 2017, compared to the year-ago period. The bank’s profits reached OMR 5.58 million ($14.44 million) in Q2-17, compared to OMR 4.65 …

Financial Results

8 June 2017 00:06 PM Bank Sohar completes bond-to-share conversion worth OMR 2.4m

Mubasher: Bank Sohar has completed the second tranche of conversion of mandatory convertible bonds into ordinary shares issued in 2013, at a value of OMR 2.383 million. The conversion was implemented on 28 April, representing the second of three …

Companies Investments

12 May 2017 02:38 PM MSM ends week in red

Mubasher: The Muscat Securities Market (MSM) saw a negative performance in the week ended 11 May. The main index fell 0.8% or 43.78 points to reach 5,432.14 points. Traded volume grew 33.29% week-on-week to 50.79 million shares, while turnover …

Trading Activities

13 April 2017 05:16 PM Bank Sohar profits up 44% in Q1

Mubasher: Bank Sohar on Thursday reported a growth of 44% in its profits for the first quarter of 2017, compared to the same period in 2016. Net profits stood at OMR 5.99 million ($15.5 million) in Q1-17, compared to OMR 4.16 million ($10.77 …

Financial Results

3 April 2017 10:39 AM Bank Sohar approves dividends, bonus shares

Mubasher: The ordinary general meeting (OGM) of Bank Sohar approved on Thursday the recommendation of the board of directors to distribute cash dividends and bonus shares for 2016. The OGM approved distributing 5% of the issued capital at 5 baisas …

Cash Dividends

29 January 2017 09:44 AM Bank Sohar proposes cash dividends, bonus shares

Mubasher: The board of Bank Sohar has recommended distributing cash dividends and bonus shares for the fiscal year 2016, according to a bourse statement issued on Sunday. The company will pay 5% cash dividends or 5 baisas per share, as well as 10% …

Management Decisions

16 January 2017 09:14 AM Bank Sohar Q4 profits decline 4.5%

Mubasher: Bank Sohar posted a drop of 4.5% in profits during the fourth quarter of 2016, compared to the same period a year ago. Earnings amounted to OMR 6.17 million ($16.02 million) in Q4-16 from OMR 6.46 million ($16.78 million) in Q4-15, …

Financial Results

5 December 2016 09:55 AM OIFC raises stake in Bank Sohar to 17%

Mubasher: Oman Investment and Finance (OIFC) said Monday that it has received the approval of the concerned regulators to increase its stake in Bank Sohar from 15.13 % and up to 17%, according to a bourse filing. The company is capitalised at OMR …

Companies Investments

2 November 2016 01:46 PM Q3 profits of MSM-listed banks decline 12%

By: Islam Fadl Mubasher: The financial statements of the banks listed on the Muscat Securities Market (MSM) showed a 12.1% fall in their profits for the third quarter of fiscal 2016. Total profits of the eight listed banks reached OMR 88.8 million …

Financial Results

17 October 2016 00:23 PM Bank Sohar, Bank Dhofar not to merge

Mubasher: Bank Sohar and Bank Dhofar were unable to reach and conclude a binding merger agreement due to difference in views around material aspects of the draft merger deal. Negotiations about the merger are ceased and Bank Sohar continues to …

Companies Investments

16 October 2016 03:19 PM Bank Dhofar, Bank Sohar cancel merger agreement

Mubasher: Bank Dhofar announced on Sunday that the negotiations over the merger with Bank Sohar will not benefit the shareholders. The bank pinpointed that the two banks failed to reach an agreement regarding drafting of main articles to complete …

Mergers and Acquisitions

16 October 2016 09:35 AM Bank Sohar's Q3 profits down 80.6%

Mubasher: Bank Sohar reported an 80.6% decline in its profits for the third quarter of the fiscal year 2016, according to the unaudited preliminary financial results. The bank's net profit reached OMR 4.13 million ($10.69 million) in Q3, compared …

Financial Results

7 September 2016 09:50 AM Bank Sohar closes closed OMR 35m Tier II debt issuance

Mubasher: Bank Sohar said Wednesday that it has successfully closed its OMR 35 million Tier II subordinated debt issuance. The bank believes that the raise will significantly improve the bank’s capital position and will help it in supporting its …

Bonds

9 August 2016 08:21 AM Merger of Bank Dhofar, Bank Sohar to see challenges

Mubasher: The proposed merger between Bank Dhofar and Bank Sohar will bring long-term benefits with an overall positive impact on Dhofar's credit profile, according to a report published by Moody's Investors Service. However, such merger will …

Mergers and Acquisitions

17 July 2016 00:14 PM Bank Sohar’s earnings down 35.4% in Q2

Mubasher: Bank Sohar’s unaudited financial statements showed a fall of 35.4% year-on-year in the bank’s net profit for the second quarter of fiscal 2016. Net profit reached OMR 4.65 million ($12.03 million) in Q2-16, versus OMR 7.3 million ($18.6 …

Financial Results

8 June 2016 09:05 AM Bank Dhofar sets share swap ratio of merger with Bank Sohar

Mubasher: The board of Bank Dhofar reached an agreement with Bank Sohar’s board members on the share swap ratio of the proposed merger, according to a bourse statement issued Wednesday. Based on the agreement, every one share of Bank Dhofar will …

Mergers and Acquisitions

17 April 2016 08:59 AM Bank Sohar’s Q1 profit declines 36.9%

Mubasher: Oman’s Bank Sohar posted on Sunday a fall of 36.9% in its net profit for the first quarter of fiscal 2016. Net profit reached OMR 4.16 million ($10.78 million) in Q1-16, versus OMR 6.59 million($17.07 million) Q1-15, according to the …

Financial Results

30 March 2016 10:01 AM Bank Sohar’s OGM approves cash dividends, bonus shares

Mubasher: Bank Sohar’s shareholders agreed Tuesday on distributing cash dividends at 5% of the issued capital (5 Baisas per share) and 1-for-10 bonus shares (10% of the capital) for the fiscal year 2015, according to a bourse filing. The OGM …

Corporate Actions

15 March 2016 10:38 AM Bank Sohar’s OGM to be held on 29 March

Mubasher: Oman’s Bank Sohar announced on Tuesday that its ordinary general meeting (OGM) will be held on 29 March to discuss proposed dividends for the fiscal year 2015. Shareholders will discuss cash dividends at 5% of the bank’s capital or 5 …

Cash Dividends

7 March 2016 11:57 AM Bank Sohar’s board cuts proposed dividends, bonus shares

Mubasher: Bank Sohar’s board of directors reduced the cash dividends it earlier proposed for the fiscal year 2015 to 5 baisas per share from 9 baisas per share. The board also lowered its bonus shares to 1% of the bank’s capital, cutting 5% from …

Management Decisions

31 January 2016 10:15 AM Bank Sohar recommends 9% cash dividends; 6% bonus shares

Mubasher: Bank Sohar’s board of directors proposed on Sunday cash dividends at 9% of the bank’s capital or 9 baizas per share. The board also recommended bonus shares at 6% of the bank’s capital, on a 6-for-100 basis. The bank’s net profit in 2015 …

Cash Dividends

14 January 2016 08:44 AM Bank Sohar posts net profit of OMR 28m for 2015

Mubasher: Bank Sohar reported on Wednesday a net profit of OMR 28.01 million in 2015, dipping 0.21% year-on-year compared to OMR 29.88 million in 2014. Total revenues rose by 0.6% to OMR 70.91 million last year, versus OMR 70.32 million in 2014, …

Financial Results

14 January 2016 06:57 AM Preliminary un-audited results for the year ended 31 December 2015

In compliance with the rules and guidelines on Disclosure issued by the Capital Market Authority vide their administrative decision No. 5/2007 dated 27th June 2007, Bank Sohar wishes to announce its initial un-audited results for the year ended 31 …