Muscat, January 19, 2008: BankMuscat, the nation’s leading bank, has been declared the ‘Bank of the Year, Oman 2007’ by The Banker magazine, Financial Times (UK), at a recently held ceremony in London. The Banker’s Bank of the Year Awards reflect the success and financial achievements of the top banks from countries across the globe.
This is the sixth year that Oman’s premier financial institution has been selected in the category of the ‘Bank of the Year’. Speaking on this occasion, AbdulRazak Ali Issa, Chief Executive, BankMuscat said,
"As a well-established bank with a fast-growing international network, our aim is to deliver a reliable, yet dynamic and innovative banking service to our clients. To do this, we draw on the expertise within our group to provide our customers with top banking products and services. We have good momentum heading into the new year and our goals are to maintain sustainable growth across all our networks".
According to The Banker, the criteria for the assessment of the Bank of the Year Award are built around detailed questionnaires provided by banks. The award for a single bank in each country is for the best overall performance in the previous period incorporating performance criteria, qualitative achievements and strategic initiatives. The judging team reflects not only on the latest results, growth rates and performance data over the previous period contained in the questionnaires, but also analyses of all available material examining technology, acquisitions and key strategic developments.
Other winners from the region included Emirates Bank (UAE), Qatar National Bank (Qatar), SAMBA Financial Group (Saudi Arabia), Ahli United Bank (Bahrain) and Kuwait Finance House (Kuwait).
The international financial and banking community has lauded BankMuscat’s performance and pioneering efforts at setting new standards of excellence in the Banking industry in Oman and in the countries in which it operates across the region for several years now. BankMuscat holds the rare distinction of being voted the ‘Best Bank’ in Oman by Global Finance for the seventh time in a row and six successive times by Euromoney magazine.