Bank Muscat receives prestigious Bank of the Year award from The Banker

March 03, 2019

In recognition of its notable contributions and leadership in Oman’s banking sector, Bank Muscat has won the prestigious ‘Bank of the Year – Oman 2018’ award by The Banker.

Reckoned the most prestigious global banking award, the annual Banker awards define the unique achievements of leading financial institutions across the world.

In a press release, Sheikh Waleed al Hashar, chief executive officer of Bank Muscat said, “Committed to maintain global best practices, the robust performance of Bank Muscat is consistently endorsed by the global banking community and we are delighted to once again win the prestigious Banker award. The Bank of the Year award speaks volumes on the unrivalled position enjoyed by Bank Muscat. Yearly, the bank adopts strategic initiatives to enhance banking excellence and market leadership.”

As the leading financial services provider in the sultanate Bank Muscat holds over 35 per cent market share of assets. The bank posted net profit of RO179.63mn for the period ending December 31, 2018 compared to RO176.82mn reported during the same period of 2017, an increase of 1.6 per cent.

The Banker awards continue to be the premier benchmark for recognition in the global banking industry.

The factors for considering the winners included strategic initiatives that drove financial performance, digital strategy as well as use of new technology delivering benefits for customers.