OER Top20 2019
Steady growth

Bank Muscat has consistently maintained a stable loan book growth with a conservative lending approach focused on high quality assets
Bank Muscat is the leading retail bank platform in Oman with approximately 2 million retail customers and the largest distribution network. At RO3.29bn, the retail banking division accounted for 26.8 per cent of the bank’s total assets in 2018.
With about 6,500 corporate customers, Bank Muscat is also the leading corporate bank franchise in Oman. The bank has strong project finance capabilities and a diversified loan portfolio across sectors. At RO4.46bn, the corporate banking division accounted for 36.3 per cent of the bank’s total assets in 2018. The bank’s net loans and advances, including Islamic financing receivables, increased by 7.3 per cent to RO8.93bn as against RO8.33bn as at 31 December 2017.
With almost 50 per cent of the network of self-service machines and kiosks in Oman, the bank’s e-channel network is growing steadily and includes 426 ATMs, 113 CDMs, 134 full function machines (FFMs) and 10 business cash deposit machines (BCDMs) for bulk deposits by corporates. The largest network of innovative e-channels unleash convenience and secure banking services across the Sultanate, including remote and far-flung areas. In keeping with technological developments, the bank’s digital channels are witnessing consistent growth. In ongoing upgrades in 2018, the bank installed 60 new ATMs and CDMs. The bank maintains high uptime exceeding 95 per cent throughout its ATM/CDM network across Oman.
Bouquet of insurance solutions
The bank joined hands with MetLife, one of the world’s leading financial services companies, and signed a 10-year agreement to offer a bouquet of innovative insurance solutions. Aimed at providing a distinct banking experience, the bank launched Tablet banking to offer a convenient door-step service for clients. Enhancing convenience, cashless payment solution was introduced for the first time for parking meters at Muscat International Airport. With this, payment at the airport parking kiosks can now be made with debit and credit cards. As part of initiatives to improve customer experience, asalah Priority Banking expanded its reach across Oman by opening five new centres.
-
Banking & Finance2 weeks ago
Oman Arab Bank Announces Increase of Authorised Capital to RO500mn and Paid‑In Capital Boost of RO50mn
-
Renewables2 months ago
Jindal Renewables and OQ Alternative Energy Sign Joint Development Agreement to Advance Integrated Renewable Power Projects in Oman
-
Bahrain2 weeks ago
SPIEF 2025 focused on global and regional economic processes, market transformation, new tech, investment climate, financial policy and people
-
Alamaliktistaad Magazines1 month ago
Al-Iktisaad, May 25
-
OER Magazines1 month ago
OER, May 2025
-
Leaders Speak2 months ago
OERLive SPOTLIGHT: Oman Sustainability Week 2025 and Oman Petroleum & Energy Show
-
Banking & Finance1 month ago
Central Bank of Oman Issues Regulatory Framework for Digital Banks
-
Banking & Finance2 months ago
Alizz Islamic Bank Partners with Al Tawasul Institute for Specialised Training Programme to Empower Job Seekers with Hearing Impairments
You must be logged in to post a comment Login