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BankMuscat S.A.O.G. Apr 11
Standard & Poors, April 2011
Abstract
Dominant commercial position in Oman. High systemic importance in an interventionist country. Well-diversified funding and adequate liquidity. The benefits arising from a resilient operating environment. Limited business diversification. Single party concentrations, albeit decreasing and lower than peers. Investments abroad pose risk management challenges and weaken earnings. The ratings on Oman-based BankMuscat S.A.O.G. reflect its dominant commercial position in its domestic market; its high systemic importance in Oman, which we consider to be an interventionist state; its well-diversified funding and adequate liquidity; and the benefits arising from a resilient operating environment. Negative rating factors include the bank's limited business diversification outside the small and concentrated Omani economy, single party concentrations, and its foreign investments abroad that affect risk management and weaken...
Companies mentioned in this report are: BankMuscat S.A.O.G.,BMI Bank B.S.C.
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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