Bank Muscat wins global banking benchmark award

Times News Service

MUSCAT: Bank Muscat, the flagship financial services provider in the Sultanate, in recognition of notable contributions and leadership in the banking sector in Oman, has won the prestigious ‘Bank of the Year – Oman 2018’ award by The Banker (Financial Times, London). Reckoned the most prestigious global banking award, the annual Banker awards define the unique achievements of leading financial institutions across the world.

Sheikh Waleed Al Hashar, Chief Executive Officer, said: “Committed to maintain global best practices, the robust performance of Bank Muscat is consistently endorsed by the global banking community and we are delighted to once again win the prestigious Banker award. The Bank of the Year award speaks volumes on the unrivalled position enjoyed by Bank Muscat. Yearly, the bank adopts strategic initiatives to enhance banking excellence and market leadership.”

Sheikh Waleed Al Hashar added: “Enhancing customer experience remains the key focus of Bank Muscat as envisaged in its vision statement ‘To Serve You Better, Everyday’. The bank is focused on this fundamental objective in all operations. In line with its vision and values, the bank is focused on pursuing a customercentric strategy to provide the ‘best in class’ service and aims to mark its differentiation with innovative digital channels and products catering to all segments.”

Innovate to deliver

The key focus of the bank’s vision is the commitment to serve customers, improve the level of performance and innovate to deliver an improved level of performance and service every day. The bank prides itself in its deep understanding of customer needs, offering financial expertise and guidance at all levels. Going forward, Bank Muscat is focused on retaining its competitive edge in the market.

Bank Muscat is recognised as a top performer in the region with notable contributions to corporate governance and sustainable development. Setting standards by creating a culture of openness, transparency and accountability, the bank pursues best practices in the field of corporate governance, which protects all stakeholders – customers, creditors, regulators, shareholders and employees. The sustainability and CSR strategy pursued by Bank Muscat is focused on long-term benefits to the community and the nation.

Bank Muscat is the leading financial services provider in the Sultanate with over 35 per cent market share of assets. The bank posted net profit of OMR179.63 million for the period ending 31 December 2018 compared to OMR176.82 million reported during the same period in 2017, an increase of 1.6 per cent. Enhancing co-operation with key economic sectors in the country, the bank is well positioned to continue the successful journey to sustain growth.

The Banker awards continue to be the premier benchmark for recognition in the global banking industry. The factors for considering the winners included strategic initiatives that drove financial performance, digital strategy as well as use of new technology delivering benefits for customers.