MUSCAT, 01 November 2016 – In recognition of distinctive brand-building initiatives, Bank Muscat, the flagship financial services provider in the Sultanate, has won Oman's Most Trusted Brand award in the banking segment in the annual Best Brands in Oman survey conducted by a leading business magazine. H.E Yahya bin Said Al Jabri, Chairman of the Special Economic Zone at Duqm (SEZAD), presented the award to AbdulRazak Ali Issa, Chief Executive, at the ceremony attended by dignitaries and senior executives of the corporate sector.
AbdulRazak Ali Issa, Chief Executive, said: “Bank Muscat is delighted to be voted once again as Oman's Most Trusted Brand. The recognition is a tribute to the largest banking family in Oman which has endorsed Bank Muscat as a community brand. The emotional chord emanating from the brand has helped Bank Muscat products and services to evolve over the years in tandem with specific customer requirements."
AbdulRazak Ali Issa added: “Epitomising the distinct Omani heritage, the Bank Muscat brand has evolved over the years to become a towering presence not only in the banking sector but in all arenas of the Sultanate. Bank Muscat has adopted innovative ways to consistently build the brand and thereby sustain customer loyalty and growth in business. As a forward looking financial institution, the bank strives to establish its leadership role in all realms of activities."
The brand recall for Bank Muscat in the survey was among the highest compared to previous years. The top management and popular choice survey respondents included Omanis and expatriates who endorsed Bank Muscat. The survey findings were mainly based on unaided recall, which implied superb brand exposure, indicating a clear competitive advantage in the brand space.
In the top management category, a cross-section of executives at the level of Chairmen, CEOs and General Managers across industries were asked to spontaneously recall one brand in each category. In the popular choice category, a cross-section of people across Muscat were randomly selected from junior executives to senior managers to ensure a healthy mix of survey respondents, including Omanis, Asian, Western and Arab expatriates.
The Bank Muscat brand is reckoned as a prolific innovator wherein the first association is the element of innovation. Catering to the Sultanate's traditional as well as tech-savvy, young population, Bank Muscat has adopted innovative ways to build the brand. New trends in the field of branding adopted by Bank Muscat reflect that the institution is moving away from the traditional line to non-conventional utilisation of media, including social media. Bank Muscat is a trendsetter in this field. The brand is synonymous with reliability, trustworthiness and a pioneering spirit.
Bank Muscat is a modern icon of banking excellence marked by consistent innovation and strategic marketing initiatives. Exciting and inspiring brand touch points offer a unique banking experience for the largest banking family in Oman.