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BankMuscat International B.S.C. Jan 06
Standard & Poors, Jan 2006
Abstract
Supportive shareholders, Adequate risk profile, Satisfactory financial performance, and Good asset quality. Small customer franchise and weak market position, Short track record, Rapid asset growth, and Weak funding profile. The ratings on Bahrain-based BankMuscat International B.S.C. (BMI) mainly reflect the bank's shareholding structure. It is 49%-owned and controlled by BankMuscat S.A.O.G. (BBB/Stable/A-2), itself controlled by the Sultanate of Oman (foreign currency, BBB+/Stable/A-2; local currency, A-/Stable/A-2). Standard & Poor's Ratings Services considers that BMI's part ownership by, important cooperation with, and increasing strategic importance to BankMuscat mean that strong support in times of difficulty would be highly likely. The ratings on BMI also reflect its adequate risk profile, well-defined strategy, and satisfactory financial performance. They are constrained by its small size,...
Companies mentioned in this report are: BMI Bank B.S.C.,BankMuscat S.A.O.G.
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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