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Bank Industry Risk Analysis: Oman (Sultanate of) Nov 06
Standard & Poors, Nov 2006
Abstract
Adequate capitalization Improving profitability Effective regulatory supervision Strong track record of institutional support Risk of operating in an economy sensitive to oil prices and government spending Above-average concentration Exposure to the real estate sector Relatively weak funding profile by Gulf standards The banking system in the Sultanate of Oman (foreign currency BBB+/Stable/A-2, local currency A-/Stable/A-2) is the smallest in the Gulf. Comprised of 17 banks, it had total assets of Omani rial (OMR) 6.1 billion ($15.9 billion at OMR0.385 to $1) at June 30, 2006. The five locally incorporated commercial banks dominate the system, with the top three commercial banks alone representing about two-thirds of system assets and loans. Omani banks enjoy good profitability and capitalization as a result of...
Companies mentioned in this report are: Standard Chartered Bank,National Bank of Abu Dhabi,BankMuscat S.A.O.G.,The Commercial Bank of Qatar
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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