Bank Muscat honoured at OER Top 20 awards

The best performing listed company in Oman award was based on the bank’s number one position by revenue in 2014

MUSCAT: Bank Muscat won the best performing listed company in Oman award by OER.

Ali Said Ali, DGM, Priority Banking, received the award from Sayyid Hamid bin Sultan Al Busaidi, director general of Support and Services and in charge of Oman Centre for Governance and Sustainability, Capital Market Authority, 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 with uncompromising passion for excellence were spotlighted as the standard bearers of corporate Oman, making substantial contributions to the Sultanate’s economy, says a press release.

The best performing listed company in Oman award was based on the bank’s number one position by revenue in 2014. With the revenue touching OMR485 million, Bank Muscat recorded a 10.34 per cent growth in revenue in 2014 compared to the previous year.

AbdulRazak Ali Issa, chief executive, said: “Bank Muscat is proud to win this award once again as the best performing Omani listed company. The award reflects 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, Bank Muscat takes proactive measures to enhance investor relations.”

“Fully engaging with investors enables companies to present themselves more favourably. Investors, as well as other financial stakeholders, favour companies which display behaviour consistent with this approach. Bank Muscat remains focused on achieving consistent top performance and enhanced value for all stakeholders,” he added.

The OER Top 20 awards celebrate the excellence in Oman’s corporate world. The Top 20 companies reflect the values that have made them the best performers – agility, adaptability, thrift, prudence and foresight. 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.