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BankMuscat S.A.O.G. Jan 08
Standard & Poors, Jan 2008
Abstract
Dominant commercial position in Oman Controlling ownership by the government, with expected strong support in case of need Improving financial performance Good asset quality and capitalization Limited, although increasing, geographic and business diversification Rapid loan growth Challenges related to geographic expansion Only adequate funding profile The ratings on BankMuscat S.A.O.G., based in the Sultanate of Oman (A/Stable/A-1), reflect the bank's dominant commercial position in its domestic market, improving financial performance, and good asset quality and capitalization. The long-term rating on BankMuscat (considered as a government-related entity (GRE) under our methodology) is one notch higher than the bank's stand-alone creditworthiness, to reflect Standard & Poor's Ratings Services' expectation of the strong likelihood of extraordinary support from the government (classified as interventionist...
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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