Bank Muscat to expand premier banking services

September 02, 2019

Keeping the growing demand for high-end banking services in mind, the sultanate’s largest lender Bank Muscat is planning to expand its premier banking services to more locations across the country.

Bank Muscat’s premier banking services is divided into three broad segments; the exclusive Private Banking service, Asalah Priority Banking for high net worth customers and Al Jawhar Privilege Banking for the salaried segment.

The lender had started premier banking services in eight centres a few years back. However, due to the high demand from consumers for such dedicated services, it quickly expanded to other locations also.

“We have seen lots of demand from consumers for our different products and services. In some cases, the demand has exceeded our expectations,” Abdulnasir N al Raisi, DGM - premier banking at Bank Muscat told Muscat Daily on the sidelines of a media tour, organised to explain different premier banking products and services available for the bank’s customers.

Raisi explained that these premier banking services were started few years back, and due to the high demand for such products and services, the number have been growing steadily since then.

“Today, we have reached 32 centres from just eight centres, when it was started.

We have seen an increase in every segment, be it the number of accounts operated by us, or the number of customers seeking such services,” Raisi said.

He said that now the bank is looking at expanding the services to areas which have been witnessing a rapid population growth. The bank studies the location and takes customer feedback before deciding about the new location. “In the last couple of years, we have opened centres in areas such as Rustaq, Mabella, and also inside the Ministry of Defence premises.

“By the end of next year, we are planning to open at least three or four more centres,” Raisi said.

“Our next centre would probably be in Amerat, which has been witnessing a steady increase in population, and there is a demand for banking services there. We are planning to open more centres in coming years. Currently, we are studying many locations,” he added.

In accordance with the increase in demand, the number of people in priority banking team is also increasing, Raisi said.