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Bank Muscat moves up to 338th ranking among top 1000 global banks

MUSCAT, 22 September 2013 – Bank Muscat, the flagship financial institution in the Sultanate, has moved up notches to a creditable 338th ranking compared to its previous 380th ranking among the top 1000 global banks. ‘The Banker - Top 1000 World Bank Rankings’, reckoned a primary source of bank data by the world’s financial community, noted that Bank Muscat was 338th in the world by Tier 1 capital as well as first in Oman by Tier 1 capital and total assets with a healthy 15.08 per cent increase in profits year-on-year in 2012.

AbdulRazak Ali Issa, Chief Executive, said: “Bank Muscat is delighted to consistently improve on its performance as well as ranking among the top 1000 banks in the world. The ‘Banker - Top 1000 World Bank Rankings’ is a benchmark reflecting the strength and future potential of leading global banks as well as a summary measure of their financial strength.  As a forward looking financial institution, Bank Muscat strives to establish its leadership role and remains committed to enhancing value for all stakeholders.”

AbdulRazak Ali Issa added: “A multi-award winning institution, Bank Muscat’s performance has been lauded by the international financial and banking community for several years. The reputable global ranking speaks volumes on the unrivalled position enjoyed by Bank Muscat. The improved ranking places the bank in a league of its own. Year on year, Bank Muscat adopts strategic initiatives to stretch its operational excellence and achieve enviable records.”

The Banker ranking recognises and promotes industry wide excellence in the global banking community. Held in high esteem, the international banking title is testament to the strong management, sound business model and prudent risk approach of the winning institution.  A keen perception of customer requirements has enabled Bank Muscat to develop products and services in line with the current and emerging needs.