NBO named ‘Best Financial Support’
MUSCAT: In a strong start to 2018, National Bank of Oman (NBO) was named the ‘Best Financial Support’ at the third edition of the Entrepreneurship Awards held under the patronage of Sheikh Abdulmalik bin Abdullah Al Khalili, Minister of Justice.
The award recognised NBO as a financial institution that effectively supports and funds small and medium enterprises through a wide array of customised SME services and initiatives. Representing the bank at the event was its senior management team led by Ahmed Al Musalmi, chief executive officer of NBO.
Al Musalmi said, “The National Bank of Oman has been evolving with the country’s SME sector, developing a deep understanding of the business owner segment and their intricate needs and this award is a testament to our efforts. In fact, we have been a partner of choice for many of Oman’s budding entrepreneurs since 2012, providing them with access to both finance and guidance. The services and products we offer are carefully tailored and the relationship is driven to give young business leaders the means to pursue their aspirations.”
He added, “As business dynamics change and customers advance, we will be introducing new products and services that cater to SME needs. Regardless of size, NBO is committed to continuing to meet and exceed their expectations and serve them with care and devotion. Their success is our success.”
Ahead of the game, NBO understood the fundamental role that entrepreneurs play in creating strong and diversified economies and as a result was one of the first banks to set-up an independent department to cater to their requirements in early 2012. Over the years, the bank’s products and services have expanded to not only in- clude seamless financial solutions but also cross-border banking facilities between Oman and the UAE as well as training and mentorship programs. NBO has been guiding and advising SMEs since its inception and has helped several entrepreneurs go from micro to medium and large-sized enterprises. Further helping SME’s unlock their potential, NBO also established its very own ‘Innovation in SME’ Award, offering OMR10,000 to the next great business idea.
A solid business and financial partner, NBO has demonstrated its flexibility and stability in light of the current market conditions. According to the recently published Fitch Rating report, the bank has successfully implemented a long-term business strategy resulting in the development of a diversified and quality portfolio of loans and deposits while remaining well capitalised with sufficient liquidity and robust profitability. This unwavering performance has enabled the bank to play a leading role in supporting Oman’s socioeconomic progress and contribute to the growth of the national economic diversification agenda.