MUSCAT, 1 December 2013 – Bank Muscat, the flagship financial services provider in the Sultanate, has won yet another prestigious global accolade to be ranked among the 50 safest banks in emerging markets. Over the years, Bank Muscat has been consistently ranked among the 50 Safest Banks in Emerging Markets by Global Finance.
For the ranking, Global Finance uses the same criteria as applied to the Annual World's Safest Banks ranking, which is a recognised standard of creditworthiness for the financial world, now in its 22nd year.
AbdulRazak Ali Issa, Chief Executive, said: “The safest bank ranking is yet another testimony to the good financial standing of Bank Muscat. We are extremely pleased that the bank has been consistently ranked among the safest banks in the region and we are grateful to our customers, investors and all stakeholders for the confidence reposed in us. As a forward looking financial institution, the bank strives to establish its leadership role in all realms of activities."
The ratings and total assets of the main players in developing economies were evaluated to create the rankings, providing an overview of the key banks in each region and which financial institutions offer the greatest security. Winners were selected through an evaluation of long-term credit ratings from Moody's, Standard & Poor's and Fitch Ratings and total assets of the 500 largest banks in emerging markets.
For companies looking to expand into new markets, choosing the right banking partner is critical. The 50 safest banks ranking is reckoned an invaluable tool for companies to evaluate institutional strength in fast-growing emerging markets.