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'BB'-pi Ratings Assigned to Four Omani Banks May 99
Standard & Poors, May 1999
Abstract
PARIS (Standard & Poor's CreditWire) May 26, 1999--Standard & Poor's today assigned its double-'B'-pi (public information) ratings to four Omani banks: -- Bank Muscat International (S.A.O.G.) (Bank Muscat) -- Commercial Bank of Oman (S.A.O.G.) (Combank) -- National Bank of Oman (S.A.O.G.) (NBO) -- Oman International Bank S.A.O.G. (OIB) The Omani banking system is the smallest among the Gulf Cooperation Council countries, with total assets of Omani rial (RO) 3.9 billion ($10.3 billion at RO0.38 to $1) at Dec. 31, 1998. During the past decade, the industry has witnessed increasing consolidation, with mergers actively encouraged by the Central Bank of Oman. The creditworthiness of Omani banks is supported by their healthy capitalization and profitability, limited competition due to high concentration in...
Companies mentioned in this report are: BankMuscat S.A.O.G.,Commercial Bank of Oman (S.A.O.G.),National Bank of Oman S.A.O.G.,Oman International Bank S.A.O.G.
Action: New Rating
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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