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BankMuscat S.A.O.G. Dec 04
Standard & Poors, Dec 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; and Adequate asset quality, supported by improved underwriting standards. Limited geographic and business diversification; High loan leverage; Challenges that would arise from the merger with National Bank of Oman; 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 government support in times of difficulty would most likely be available. The ratings are constrained, however, by the small and concentrated Omani economy, the...
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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