Sunday, November 20, 2011

BANKMUSCAT Uniquely Positioned to Support Trade & Investment

BANKMUSCAT Uniquely Positioned to Support Trade & Investment

Having scripted a success story viewed as a reference point by the banking industry, BankMuscat is today a towering presence not only in the banking sector but in all arenas of the Sultanate of Oman…

BankMuscat is the leading bank in the Sultanate of Oman, and enjoys the largest 39 per cent market share in Oman, with over US$16 billion of assets, capital of over US$2 billion and a customer base of over 1.3 million. It is listed in Muscat and London Stock Exchanges and rated A1 by Moodys and BBB+ by Standard & Poor's. The bank has an extensive network of 130 branches in Oman, as well as direct and indirect presence in all six GCC states besides a Representative Office in Singapore which focuses on Financial Institutions and trade business, supporting GCC-Asia trade. BankMuscat provides Corporate,Retail, Investment Banking and Asset Management services. BankMuscat has a 43% stake in the Mangal Keshav Group, one of the oldest and most respected securities houses in the fast-growing Indian equities market.
Epitomising the distinct Omani heritage, BankMuscat has evolved during the past 29 years to become a towering presence not only in the banking sector, but in all arenas of the Sultanate of Oman. Taking major strides in tandem with the nation's progress, BankMuscat has scripted a success story viewed as a reference point by the banking industry. Owing to strategic initiatives and qualitative achievements, BankMuscat is in a league of its own as the people's banking partner in Oman.
Commenting on the successful march, Sunder George, Deputy Chief Executive, said: "BankMuscat enjoys an unrivalled position in Oman as well as the region, a clear recognition of the global best practices pursued by the Bank. BankMuscat is one of the few GCC-based banks which is in a position to provide customers and counterparts pan-GCC coverage. With branches in Saudi Arabia and Kuwait and an associate in Bahrain, with its branch in Qatar, and a Representative Office in the United Arab Emirates (UAE), BankMuscat is uniquely positioned to meet the needs of counterparties for their requirements in the GCC region and thereby support the increasing trade and investment flows between Oman, the GCC and Asia."
BankMuscat has very strong Project/ Infrastructure Finance, Corporate Finance & Advisory credentials and is one of the few banks in the region to consistently enjoy global top 25 rankings. BankMuscat is very active in Trade Finance and Financial Institution business, with FI risk appetite covering most countries in Asia and South Asia, the GCC and the larger Middle East as well as parts of Africa.
BankMuscat Expat Services offers a gamut of financial solutions to the non-resident Indian (NRI) community in Oman. As the Sultanate's leading bank, BankMuscat understands the banking and investment priorities of expatriates and offers structured services based on their short-term and long-term financial needs. Expat Services provides easy and convenient access to all banking solutions ranging from savings accounts to wealth management.
BankMuscat is the recipient of most of the prestigious foreign, regional and local awards. The notable recognitions include the Best Bank in Oman awards by The Banker, Global Finance and Euromoney. The Bank achieved the rare distinction of becoming the first and only corporate entity from Oman to be listed in 'The Forbes Global 2000' featuring the biggest and most powerful listed companies of the world. BankMuscat is the world's first PCMM-Level 3 certified bank in recognition of benchmark human resources process improvements as well as the winner of the Best Employer in the Middle East award by Hewitt.
BankMuscat is ranked among the top 500 global banking brands. The Bank's brand value rose to $300 million in 2011 compared to $202 million in 2010, according to the 2011 Brand Finance Banking 500 report, published in association with The Banker magazine. The report ranked BankMuscat 331 among the top 500 global banking brands and 26 among the most valuable Middle Eastern brands.
All BankMuscat products and services have evolved over the years in tandem with specific customer requirements, offering superior levels of banking convenience and connectivity. The Bank remains committed to excellence in providing innovative banking solutions.
BankMuscat is the first Omani bank to establish a full-fledged Corporate Social Responsibility (CSR) department. The CSR policy stems from the Bank's strong belief in the importance of social responsibility. The Bank is of the view that its social responsibility is not merely participation in charitable works and organisation of voluntary campaigns, but responsibility towards all-round development of society.
BankMuscat moved into its new purpose-built headquarters in 2010. Incorporating the latest technology and trends, the new landmark building is the result of the Bank's natural growth progression during the past 29 years. The iconic headquarters strengthens the Bank's reputation as a forward-thinking business at the heart of its people and cultural heritage. Reckoned a Renaissance achievement of Oman, the new headquarters redefines benchmarks in workplace design. A perfect expression of functional finesse, the banking experience in the new environment infuses strong professional as well as cultural links among the largest banking family in Oman.

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