HSBC

 

Together, stronger for Oman

Together, stronger for Oman

HSBC Oman is merging with OIB.

What is happening?

HSBC Bank Middle East Limited Oman (HBME Oman) has merged with Oman International Bank (OIB) to create HSBC Bank Oman S.A.O.G. The integration of OIB's business and operations with HSBC will be completed by the end of the year.

What this means for you as an HSBC customer

  • You will soon be able to use any OIB ATMs that carry the Oman Net logo in Oman, free of charge
  • Once the OIB branches are branded with the HSBC logo, you will be able to access the second-largest branch network in Oman, ensuring that we are right where you need us to be

Until then, please continue to bank with us as you always have.

Our commitment to Oman

Together, we are committed to Oman and to serving the needs of our customers in Oman. OIB has successfully built and maintained one of the largest branch networks in Oman, contributing to the welfare of communities across the sultanate. HSBC has also been a key part of Oman banking history. Operating since 1948, we were the only bank in the sultanate for almost two decades and played a pivotal role in the first issue of the Omani currency.

With OIB's local reach and HSBC's global expertise and international connectivity, together, we are a stronger bank for Oman, now and in the future.

1. Why is HSBC merging with Oman International Bank?

Oman is a fast-growing market with potential for future economic growth - this transaction compliments HSBC’s strategy of positioning for growth in the markets that we believe will show strong economic performance.

The merger provides an opportunity to access a strong branch network which will take HSBC Bank Middle East Limited Oman’s reach from 6 branches to 90. Oman International Bank has a strong nation-wide network covering all major geographic regions in Oman. The combined entity will result in the creation of the second largest bank in Oman by assets and number of branches and deposits.

2. What new opportunities will this deal bring to me?

Upon the full integration of HSBC and OIB’s operations you will:

  • Have a larger branch network providing support in cash management and transaction banking
  • Have a wider network of ATMs at your disposal towards servicing your banking needs
  • Have a fully embedded Direct Banking channel such as internet banking, phone banking, mobile banking

3. What happens to my account numbers after the merger?

Your account number and the way you bank with us will remain the same.

4. Can I be serviced at OIB branches?

Not for the time being. However, upon the full integration of HSBC and OIB’s operations, the OIB branches will be re-branded to HSBC and you begin to use the OIB branch network.

5. Will the bank’s contact details change?

Your existing sales, service, and support contacts remain unchanged, so you can use the same communication channels with which you are accustomed to.

6. Will I be charged for using the ATM machines now?

You can continue to use the ATM machines on ‘Oman Net’ network free of charge and soon you will be able to use OIB’s ATM network free of charge as well.

We will advise you in due course of when you can begin to use OIB ATM machines for free.

7. Will my Relationship Manager change?

Your Relationship Manager will remain the same. Further communication from your existing Relationship Manager will follow in due course, should there be any future changes.

8. What will happen if I have an account with both banks?

You can continue to use accounts at both banks at present. Once the integration is complete, your accounts will be consolidated to your existing HSBC account.

Depending on your banking requirements, there may be advantages in consolidating your accounts to HSBC prior to Integration and if this is the case, we will contact you directly. In the event that you would like to consolidate your banking position with HSBC prior to Integration, please contact your nearest HSBC branch.

9. Who should I contact if I have any additional questions?

Your existing sales, service, and support contacts remain unchanged, so please use your existing communication channels.

Depending on your banking requirements, there may be advantages in consolidating your accounts to HSBC prior to Integration and if this is the case, we will contact you directly. In the event that you would like to consolidate your banking position with HSBC prior to Integration, please contact your nearest HSBC branch.

10. What will happen to my account tools – Cheque Books, ATM Cards, Debit Cards, Credit Cards?

You can continue to use your existing account tools. There is no change to these. We will communicate to you if any changes are made to any of these tools.

11. I have a Premier Account outside of Oman – Will there be any change to my Premier status?

No, there will be no change in your account status with HSBC across the world. Please continue to operate your HSBC accounts across the world as you currently do.

12. As a Premier Customer, I use Global View. Will I be able to see my balances at OIB also prior to Integration?

No, we will run the two banks separately until full Integration, so Global View access to your accounts at OIB will not be available.