Muscat, 15 October 2020
Bank Muscat, the leading financial services provider in the Sultanate, has won the award for Best Bank – Large Size at the Oman Banking and Finance Awards 2020 held recently. The award was based on a survey of banks and Non-Banking Financial Institutions (NBFCs) in Oman, which was conducted jointly by Oman Economic Review (OER) and Ubhar Capital. The Oman Banking and Finance Awards event was held under the patronage of His Excellency Tahir bin Salim bin Abdullah Al Amri, Executive President of the Central Bank of Oman.
This recognition is the result of the Bank’s adoption of global best practices and its customer-centric approach in banking. Bank Muscat, which has the largest network of e-channels in the country, continues to demonstrate its leadership traits and continuously contributes to the growth and development of the Sultanate’s economy not only through banking, but also through pioneering initiatives that promote sustainable development.
Today, Bank Muscat leads the financial services sector in the Sultanate with over RO 12 billion in assets, over 170 branches and more than 780 ATMs and CDMs spread across the country making it the preferred choice for customers. The Bank has a good presence even in remote areas and is greatly enhancing financial inclusion in Oman. In keeping with technological developments, the Bank’s digital channels including Mobile and Internet banking have been witnessing tremendous growth over the recent past. With about 2 million customers, the Bank is a clear leader in the banking sector in Oman and has the largest portfolio in the country across the retail, corporate, wholesale and Islamic banking space.
The Oman Banking and Finance Awards were powered by OER and was conducted in tandem with the 5th New Age Banking Summit. The survey rated the performance of banks and NBFCs on various parameters over the four year period from 2016-2019. Banks with total assets of over RO 3 billion by the end of 2019 were considered for the Best Bank – Large Size category award, which was won by Bank Muscat. The results of the survey were verified by Abu Timam Grant Thornton.
The Bank has been consistently winning prestigious local and international awards. Earlier in 2020, Bank Muscat was listed by Forbes Middle East as one of the Top 100 companies in the entire region and also won the Best Local Bank awards from EMEA Finance and Euromoney. The Bank was also named as the Best Private Bank in Oman by The Banker and the Best Trade Finance Bank in Oman by Global Trade Review. It also recently won the Channel Innovation Award at the Infosys Finacle Client Innovation Awards.