Our services

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.

We offer local and foreign currency vanilla corporate and transactional banking products and services. The offering covers Global Payments Solutions, Global Trade Solutions, Financing & Advisory, Global Markets and HSBC Securities Services.

Our core focus is international wholesale clients in order to connect Oman with opportunities around the world and vice versa.

Our branch

Office 106, 1st Floor
HSBC Salam Square (North Tower)
Dohat Al Adab Street
Muscat

Our CEO

Elie Maroun El Asmar

Our history in Oman

We have been present in Oman since 1948 and for two decades we were the only bank operating in the country. Over the years we have delivered a number of ‘firsts’ for Oman, including assisting with the first issue of the Omani currency in 1970.

In June 2012, HSBC Bank Middle East’s Oman operations merged with Oman International Bank, an institution with a rich heritage, which was listed on the Muscat Securities Market. The new bank was renamed HSBC Bank Oman S.A.O.G.

From 2012 until August 2023, we were represented in Oman by HSBC Bank Oman S.A.O.G.

In 2023, HSBC Oman completed a merger with Sohar International Bank. Following the merger, in May 2024, HSBC Bank Middle East Limited-Oman Branch opened its doors, beginning a new chapter of HSBC’s presence in the Sultanate. The branch connects internationally focused enterprises in Oman with the rest of the world and vice versa.

Our branch in Oman

Take a tour of our new wholesale branch in Muscat, where our teams are supporting the needs of our Global Banking and Commercial Banking clients in the Sultanate.

Video transcript (PDF, 89KB)

HSBC Group history timeline


1865
 
2024

Hong Kong harbour, Chinese artist, early 1860s

Staff in Fuzhou, China, 1887

Portrait of Thomas Jackson, around 1890

Chinese railway bond certificate, 1907

Staff in military uniform, First World War

Hong Kong building, 1965

Prison camp diary of HSBC staff member Max Haymes, 1943

Hong Kong garment factory, around 1950

Persian banknote, early 20th century

UK cash machine, around 1970

HSBC office, New York, 1999

HSBC lion, London, present day

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The Hongkong and Shanghai Banking Corporation Limited opened in Hong Kong on 3 March 1865 and in Shanghai one month later. It was the first locally owned bank to operate according to Scottish banking principles.

By 1875 HSBC was present in seven countries across Asia, Europe and North America. It financed the export of tea and silk from China, cotton and jute from India, sugar from the Philippines and rice and silk from Vietnam.

By 1900, after strong growth under Chief Manager Thomas Jackson, the bank had expanded into 16 countries and was financing trade across the world. Bullion, exchange and merchant banking were important features of the bank’s business.

In the early 20th century, HSBC widened the scope of its activities in Asia. It issued loans to national governments to finance modernisation and infrastructure projects such as railway building.

The First World War brought disruption and dislocation to many businesses. By the 1920s, however, Asia was beginning to prosper again as new industries developed and trade in commodities such as rubber and tin soared.

The 1930s brought recession and turmoil to many markets. Nonetheless, HSBC asked architects Palmer and Turner to design a new head office in Hong Kong: “Please build us the best bank in the world.” The cutting-edge art deco building opened in 1935.

The bank faced one of its most challenging times during the Second World War. Staff in Asia showed huge courage in the face of adversity. Many became prisoners of war. Only the London, Indian and US branches remained in full operation.

At the end of the war, HSBC took on a key role in the reconstruction of the Hong Kong economy. Its support helped established manufacturers as well as newcomers to Hong Kong grow their business.

By the 1970s the bank had expanded through acquisition. HSBC bought Mercantile Bank and The British Bank of the Middle East in 1959. In 1972 it formed a merchant banking arm, extending its range of services.

In the 1980s HSBC bought Marine Midland Bank in the US. In 1992, the newly created HSBC Holdings plc made a recommended offer for full ownership of the UK’s Midland Bank. Following the acquisition, HSBC moved its headquarters to London.

In 1998, the bank announced it would adopt a unified brand, using HSBC and the hexagon symbol everywhere it operated.

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