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BankMuscat S.A.O.G. Jan 04
Standard & Poors, Jan 2004
Abstract
Dominant commercial position in Oman; Superior earnings capacity reflecting high margins and low cost of labor; Ownership structure, with strong support expected in case of need; Adequate asset quality, supported by improved underwriting standards; and Adequate and improving capitalization. Limited geographic and business diversification; High loan leverage; and Below-average funding profile. The ratings on BankMuscat S.A.O.G. reflect the bank's dominant commercial position in Oman, good earnings profile, and improving asset quality and capitalization. They also reflect controlling ownership by the Government of Oman. Standard & Poor's considers that the bank's importance to the economy, its ownership structure, and status of flagship bank, mean that government support in times of difficulty would most likely be available. The ratings are constrained, however,...
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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