MUSCAT, 13 June 2016 – Bank Muscat, the flagship financial services provider in the Sultanate, has achieved a unique distinction of being the only Omani company to be ranked in the Forbes Top 100 Companies in the Arab World 2016. The prestigious Forbes ranking featuring listed companies across Arab countries were based on their financial performance as of December 2015.
The Forbes Top 100 Companies awards celebrated the region's corporate success and their contribution towards economic development of the region. Najah Al Sulaiman, Chief Executive Officer (CEO) of Bank Muscat Kuwait branch, received the award at the ceremony held in Kuwait in the presence of top corporate leaders of the region.
AbdulRazak Ali Issa, Chief Executive of Bank Muscat, said: “As a forward looking financial institution, Bank Muscat strives to establish its leadership role in all realms of activities and is immensely proud to be ranked in the Top 100 Companies in the Arab World. The recognition endorses the bank's unrivalled position in Oman as well as the region, established by the global best practices pursued by the bank."
The Top 100 Companies in the Arab World were recognised for contributions to diversification of economies in the region and carrying that success to international soil. The Top 100 ranking also endorsed their resilience and passion to emerge as formidable corporations in the region.
AbdulRazak Ali Issa added: “Time and again, the performance of Bank Muscat receives global recognition, reflecting the consistency and innovative strategies which have cemented the bank's reputation in a tough market. Year on year, the bank adopts new initiatives to stretch its operational excellence."
As the flagship bank in Oman, Bank Muscat aims to deliver reliable, dynamic and innovative banking services. The bank draws on its expertise to provide the best banking products and services to customers. A multi-award winning organisation, Bank Muscat holds the rare distinction of being consistently voted the 'Best Bank in Oman' by all leading local, regional and global institutions.
Bank Muscat posted a net profit of RO 43.8 million for the three months ended 31 March 2016 compared to RO 43.3 million reported for the same period in 2015, an increase of 1.1 per cent.