MUSCAT, 04 April 2017 – Bank Muscat, the flagship financial services provider in the Sultanate, has won the prestigious ‘Best Bank in Oman 2017’ award by Global Finance. Reckoned among the most prestigious global banking awards, the annual Global Finance awards are hotly contested by the world's leading financial institutions.
AbdulRazak Ali Issa, Chief Executive, said: “Bank Muscat is proud to be endorsed once again as the Best Bank in Oman by Global Finance. The award speaks volumes on the unrivalled position enjoyed by Bank Muscat and we feel proud to consistently win this prestigious award. Bank Muscat’s performance has been lauded by the international financial and banking community for several years. Each year, the bank adopts strategic initiatives to stretch its operational standards and establish banking excellence.”
AbdulRazak Ali Issa added: “Driven by robust policies to achieve global best practices, Bank Muscat is focused on strategic initiatives to confront challenges and further consolidate its market share. The bank prides itself in its deep understanding of customer needs, offering financial expertise and guidance at all levels. Going forward, Bank Muscat is focused on retaining its competitive edge in the market.”
The Global Finance award winners were chosen this year for carefully attending to customer needs in difficult markets and accomplishing better results while laying the foundations for future success. The selection was made by editors of Global Finance after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts across the world. The award criteria included growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products.
Global Finance noted that the awards celebrated financial institutions that excelled at delivering customers the services and products tailored to meet their unique needs. The award winners exuded energy and adaptability to stand out in the field, the magazine added.
Consistently winning prestigious local, regional and global awards helps Bank Muscat to set benchmarks in performance. Maintaining the leadership position, Bank Muscat posted a net profit of RO 176.56 million for the year ended 31 December 2016 compared to RO 175.45 million reported during the same period in 2015.