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Competition likely to pressure Omani banks' margins: Fitch
- Oman: Monday, January 21 - 2013 at 04:27
Fitch Ratings has said the outlook for Omani banks remains stable, forecasting more aggressive growth and higher profits to be reported in 2013, as they compete for market share, Muscat Daily has reported. "To date, Omani banks have achieved modest profitability due to a cautious growth strategy, but they are likely to grow more aggressively as they compete for market share now," Fitch said. Margins are likely to tighten due to increased competition, interest rate caps imposed by the central bank on retail lending and slimmer margins on government-related business, it said.
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