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BankMuscat S.A.O.G. Jan 07
Standard & Poors, Jan 2007
Abstract
Dominant commercial position in Oman Controlling ownership by the government, with expected strong support in case of need Improving financial performance Adequate asset quality and capitalization Limited, albeit 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-2), reflect the bank's dominant commercial position in its domestic market, improving financial performance, and adequate asset quality and capitalization. They also take into account controlling ownership by the government of Oman. Standard & Poor's Ratings Services expects that government support would be available in times of difficulty. The ratings are constrained, however, by the limited geographic and business diversification outside the small and...
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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