Global Finance New York has declared BankMuscat the Best
Trade Finance Bank and Provider in Oman, for the year 2004.
The survey which was conducted by the Global Finance editors together with inputs from industry analysts, corporate executives and technology experts, selected the banks to be awarded with regards to: transaction volume, scope of global coverage, customer service, competitive pricing and innovative technologies.
BankMuscat is the largest banking entity in Oman with a strong presence in corporate banking, retail banking, investment banking and asset management. The bank has a market share of 32.8 percent in terms of total assets, 36.7 percent of total credit, 33.7 percent of customer deposits and 35 percent in trade finance business in the Sultanate as on 30 September 2003.
BankMuscat's long term strategy is to diversify its revenue base and geographical presence, improve delivery channels backed by technology, diversify into bancassurance and leasing, and eventually become a hub for all types of financial services. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
