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Bank Muscat S.A.O.G. Jan 02
Standard & Poors, Jan 2002
Abstract
The public information ('pi') rating on Bank Muscat S.A.O.G. reflects the bank's leading domestic market position, which has been bolstered by domestic expansion via acquisitions, and adequate earnings and capital. The rating is constrained, however, by the high level of economic risk in Oman, some reliance on wholesale funding at the bank, and a relatively high-risk lending profile, due to lack of geographic diversification and single-party and sector lending concentrations. After merging with Commercial Bank of Oman (CBO) in 2000, Bank Muscat became the leading player in the domestic banking sector. The merger took place after the largest shareholder of Bank Muscat, the Diwan of the Royal Court (Diwan), representing the Sultanate of Oman, purchased a controlling 35% stake in...
Companies mentioned in this report are: 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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