Muscat Daily

Bank Mus­cat hon­oured at Bank­ing & Fi­nance Awards

- Business · Finance · Investing · Banking · Bank Muscat SAOG · Muscat · Oman · Central Bank of Oman · Grant Thornton International

Bank Mus­cat, the lead­ing fi­nan­cial ser­vices provider in the sul­tanate, has won the award for Best Bank – Large Size at the Oman Bank­ing and Fi­nance Awards 2020 held re­cently. The award was based on a sur­vey of banks and non-bank­ing fi­nan­cial in­sti­tu­tions (NBFCs) in Oman, which was con­ducted jointly by Oman Eco­nomic Re­view (OER) and Ub­har Cap­i­tal. The Oman Bank­ing and Fi­nance Awards event was held un­der the pa­tron­age of Tahir bin Salim bin Ab­dul­lah al Amri, ex­ec­u­tive pres­i­dent of the Cen­tral Bank of Oman.

This recog­ni­tion is the re­sult of the bank’s adop­tion of global best prac­tices and its cus­tomer­centric ap­proach in bank­ing. Bank Mus­cat, which has the largest net­work of e-chan­nels in the coun­try, con­tin­ues to demon­strate its lead­er­ship traits and con­tin­u­ously con­trib­utes to the growth and de­vel­op­ment of the sul­tanate’s econ­omy not only through bank­ing, but also through pi­o­neer­ing ini­tia­tives that pro­mote sus­tain­able de­vel­op­ment.

Today, Bank Mus­cat leads the fi­nan­cial ser­vices sec­tor in the sul­tanate with over RO12bn in as­sets, over 170 branches and more than 780 ATMs and CDMs spread across the coun­try mak­ing it the pre­ferred choice for cus­tomers.

The bank has a good pres­ence even in re­mote ar­eas and is greatly en­hanc­ing fi­nan­cial in­clu­sion in Oman. In keep­ing with tech­no­log­i­cal de­vel­op­ments, the bank’s dig­i­tal chan­nels in­clud­ing Mo­bile and In­ter­net bank­ing have been wit­ness­ing tremen­dous growth over the re­cent past. With about 2mn cus­tomers, the bank is a clear leader in the bank­ing sec­tor in Oman and has the largest port­fo­lio in the coun­try across the re­tail, cor­po­rate, whole­sale and Is­lamic bank­ing space.

The Oman Bank­ing and Fi­nance Awards were pow­ered by OER and was con­ducted in tan­dem with the 5th New Age Bank­ing Sum­mit. The sur­vey rated the per­for­mance of banks and NBFCs on var­i­ous pa­ram­e­ters over the four year pe­riod from 2016-2019.

Banks with to­tal as­sets of over RO3bn by the end of 2019 were con­sid­ered for the Best Bank – Large Size cat­e­gory award, which was won by Bank Mus­cat. The re­sults of the sur­vey were ver­i­fied by Abu Ti­mam Grant Thorn­ton.

The bank has been con­sis­tently win­ning pres­ti­gious lo­cal and in­ter­na­tional awards.

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