BankMuscat, the flagship financial institution in the Sultanate, has earned a creditable 373rd ranking among the top 1000 banks in the world. ‘The Banker — Top 1000 World Bank Rankings’ noted that BankMuscat was 373rd in the world by Tier 1 capital as well as first in Oman by Tier 1 capital and total assets with a healthy 15.78 per cent increase in profits year-on-year in 2011. ‘The Banker — Top 1000 World Bank Rankings’ reckoned the primary source of bank data for the past 50 years is used as a reference guide by the world’s financial community.
AbdulRazak Ali Issa, Chief Executive, said: “BankMuscat is delighted to achieve the prestigious ranking among the top 1000 banks in the world. The ‘Banker — Top 1000 World Bank Rankings’ is a benchmarking study of the strength, risk and future potential of the leading global banks as well as a summary measure of their financial strength. As a forward looking financial institution, BankMuscat strives to establish its leadership role in all realms of activities and remains committed to enhancing value for all stakeholders.”
AbdulRazak Ali Issa added: “A multi-award winning institution, BankMuscat’s performance has been lauded by the international financial and banking community for several years. The global ranking speaks volumes on the unrivalled position enjoyed by BankMuscat. The ranking places the bank in a league of its own. Year on year, BankMuscat 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. The world’s longest running international banking title is testament to the strong management, sound business model and prudent risk approach of the winning institution. The global ranking attests that banks that managed the financial crisis well were best placed to capitalise on the new banking landscape.
For nine years, BankMuscat has won the ‘Best Bank in Oman’ award by The Banker (Financial Times, London). Early this year, BankMuscat also moved up to reinforce its ranking at 300 among the top 500 global banking brands compared to 331 in 2011. The 2012 Brand Finance Banking 500 report, published in association with The Banker magazine, retained the Bank’s brand rating at ‘AA’.
Omanobserver
