Bank Muscat listed amongst the 30 most valuable banks in the Middle East

by | Apr 28, 2024 | 0 comments

MUSCAT – In recognition of its exceptional achievements and pioneering roles in delivering the best banking services and facilities to customers from individuals and corporates, Bank Muscat, the leading financial service provider in the Sultanate of Oman, has been listed within Forbes’ 30 most valuable banks in the Middle East for 2024 based on the market value.

This achievement represents a milestone of success added to the Bank’s track record of achievements throughout its journey of over 40 years, emphasizing the Bank’s pioneering position and stance of excellence in customer service in the country. The selection of Bank Muscat as one of the valuable banks in the GCC within Forbes’ rating came according to the criteria set by the institution, including the financial performance of the previous year, market value, the size of sales, assets, and profits, in addition to the prominent role the rated institution plays in service delivery and product development.

Bank Muscat takes pride in being one of the best banks in the Middle East and the leading banking institution in the Sultanate. This recognition puts an emphasis on the Bank’s excellence in the banking sector across different levels including the delivery of the best services and facilities to customers, aiming to enhance customer base and fostering customers’ banking experience. The Bank also plays a vital role in launching initiatives around the Corporate and Sustainable Responsibility (CSR) field, underscoring its commitment to serving the community and strengthening cooperation with different private and public entities in the country, which collectively contribute to the support of the economic trends and Oman’s vision 2040.

Bank Muscat’s presence as a valuable bank in the region and the best bank in the Sultanate of Oman stems from its dedication throughout its path to offering excellent services and products that cater to the current and future aspirations and needs of customers. Underscoring its dedication to human resources development, the Bank offers various training opportunities and development courses that aim to enable its staff and elevate their professional competency. It is worth mentioning that the Bank has over 4000 dedicated staff members delivering the best services to customers. Further to this, the Bank has distinguished presence in serving its customers from institutions and SMEs through the range of banking services offered to them in various domains including investment, treasury, asset and wealth management, and private banking. Hence, the Bank today takes immense pride in being the first choice for 3 million customers who benefit from the services provided to them, out of which over 1.9 million represents the customers who avail the services offered online through the Bank’s Internet Banking and Mobile Banking platforms. The Bank also has a wide branch network of 183 branches and service centers distributed across the Sultanate, including 28 branches designated for Meethaq Islamic Banking and 5 branches designated for the Bank’s corporate and institutional customers. The Bank also has more than 870 ATMs, CDMs, and self-service machines. The fact that Bank Muscat continues to achieve positive financial results annually demonstrates its leadership position in the banking sector.

Emphasising its stance of excellence and commitment to the banking industry around different business areas and sectors, Bank Muscat received a number of 38 awards from different local, regional, and global institutions in 2023. The Bank was awarded by multiple global institutions such as Euromoney, Global Finance, and EMEA Finance. It was also recognized as the Best Digital Bank in the Sultanate of Oman across the retail, corporate, and Islamic Banking categories by Global Finance. Additionally, Bank Muscat was acknowledged as the Best Private Bank in the country by Global Finance, EMEA Finance, and Euromoney, and secured the Exceptional Priority Banking Services Award from the Signature 100 Luxury Awards.

On its leading role in the CSR-related field, Bank Muscat won the Best Bank for ESG in Oman during the ceremony of Euromoney Awards for Excellence. Bank Muscat secured the Platinum Award for Maximizing Customer Engagement with its Leading Mobile App in Oman and secured the Gold award for Corporate Banking Innovation through its Dynamic Forex Service for Corporate Clients at the Infosys Finacle Innovation Awards ceremony. The multiple recognitions which have been granted to Bank Muscat emphasizes its pioneering banking position and its commitment to its vision “To serve you better every day.”

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