Bank Muscat wins top ranking in OER Top 20 awards
Bank Muscat, the flagship financial services provider in the Sultanate, has won the best performing Omani listed company award by Oman Economic Review (OER) business magazine. Ilham al Hamaid, DGM – Large Corporates, received the OER Top 20 award from Dr Rasheed bin al Safi al Huraibi, Chairman of Oman Tender Board, at the high profile award ceremony attended by senior government officials, business leaders and decision makers of Oman’s corporate sector.
The award winning Top 20 companies listed on Muscat Securities Market (MSM) were spotlighted as the standard bearers of corporate Oman with uncompromising passion for excellence, making substantial contributions to the Sultanate’s economy.
Ilham al Hamaid said, “Bank Muscat is proud to consistently win the OER Top 20 award as the best performing Omani listed company. The bank pursues a strategic investor relations policy aimed at enhancing value for all stakeholders. The bank regularly discusses financial results and business outlook with investors, which has helped in building a stronger corporate governance and investor relationship culture in Oman. As always, the bank remains committed to proactive measures to enhance investor relations.”
Consistently winning prestigious local, regional and global awards helps Bank Muscat to set benchmarks in performance. Maintaining the leadership position, Bank Muscat posted a net profit of RO 176.56 million for the year ended 31 December 2016 compared to RO 175.45 million reported during the same period in 2015.
The selection of 2016 OER Top 20 award winners was based on the leading companies reflecting values of agility, adaptability, thrift, prudence and foresight which made them the best performers. The MSM-listed companies were evaluated and ranked on the basis of their revenue, verified by KPMG Oman. Starting in 2003, the OER Top 20 awards has evolved into an authoritative barometer of Oman Inc’s performance and underscores the strength and resilience of Oman’s economy.