BankMuscat Board of Directors approves the third quarter results

The Bank has reported remarkable growth figures, recording an increase of 43.9% in net profit, 27.31% in net interest Income and 39.31% in operating income as against the corresponding period in 2007.

Sheikh AbdulMalik bin Abdullah Al-Khalili, Chairman of BankMuscat, said:

"BankMuscat continued its exceptional performance owing to the liquidity planning and implementation during the year which helped manage funds efficiently and optimally. The dynamism of the local economy is very evident when you consider that customer deposits and savings deposits have grown by 23.8% and 38.7% respectively as of September 30, 2008."

He added, "At a time when cross-currents of the prevailing global financial crisis are impacting economies and financial institutions across the world, BankMuscat maintained its growth rates, thanks to its prudent investment policies underpinned by sound capital management strategies, thereby honouring the trust reposed in the bank by valuable investors and over 700,000 customers. BankMuscat continues to forge vibrant investment strategies that always identify the interests of core investors and customers."

"Our key business lines have continued to turn in impressive performance, earning us the 'Best Bank in Oman', 'Best Trade Finance Bank and Provider' and 'Best Forex Bank and Provider' awards from Global Finance during the period and this augurs exceptionally well for the Bank and more so for our customers. I would like to take this opportunity to extend my gratitude to all our customers and associates for their continued support".

The Bank is committed to have over one million satisfied customers by the end of the decade through continuous enhancement of stakeholder value and by continuously providing its customers with a variety of value added banking products and services as well as by building stronger ties with people across the country.

A multi-award winning organization, BankMuscat caters for every life stage through a shared vision that revolves around core values that every Omani holds dear. These values include reassurance, togetherness, tradition and growth and are enforced in the Bank's promise of 'With you, always.' BankMuscat has recently launched a dedicated corporate campaign that further reiterates its commitment to its customers. The Bank is dedicated to serving the community and making a substantial difference in the nation.