Bank Muscat

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Bank Muscat or BankMuscat (BKMD) is Oman's largest bank with a total asset base of more than US $13 billion. It is also the first Oman company to get enlisted in the London Stock Exchange in October 2005. Bank Muscat is also listed on the Muscat Security Market. Currently, it has an extensive network of more than 115 branches. It also has a branch in Riyadh (Saudi Arabia). There is a Representative Office in Dubai (United Arab Emirates) as well.

Bank Muscat offers a wide range of products and services to its thousands of customers. Its commercial banking services include deposits, loans and credit cards, whereas its investment banking services include financial advisory and corporate finance. It also offers asset management services including wealth and fund management and also investments in private equity and brokerage services etc.

Organization Structure and Related Entities

Established in 1982 as Oman Overseas Trust Bank, BankMuscat has seen some major mergers and acquisitions to come into the current status and size. It merged with Al Bank Al Ahli Al Omani in 1993. In 1999, it again merged with Commercial Bank of Oman. Then a third merger came again in 2001 when Bank Muscat merged with Industrial Bank of Oman. Finally, Bank Muscat merged for the fourth time with the National Bank of Oman in September 2004.

Not only that, BankMuscat also has a strategic stake in a Bahrain based commercial bank, BankMuscat International (BME) Bank. It also has a 43% stake in Mangal Keshav Group - a well known and the oldest securities houses in Indian equities market. In 2008, BankMuscat also acquired 35% stake in Saudi Pak Commercial Bank.

Subsidiaries / Associates / Affiliates
NameCountryHolding
Muscat Securities House Company (MSH)Saudi Arabia100%
BMI BankBahrain49%
Mangal Keshav HoldingIndia43%
Silk BankPakistan35%


Investments
NameCountryHolding
Oman Chemical Industries CompanyOman 6.98%
Dhofar Power CompanyOman 5.00%
Oman Investment CorporationOman 5.00%
Oman Refreshment CompanyOman5.00%
Sahara Hospitality CompanyOman4.09%
Oman Oil Marketing CompanyOman 2.01%
Octal PetrochemicalsOman-
Oman Urban Development Company [OUDC]Oman-


Funds
NameCountryHolding
BankMuscat MSCI Kuwait FundKuwait-
Muscat FundOman-
Oryx FundGCC-


Divisions
Bank Muscat has got the following divisions.
  • Corporate Banking Division
  • Consumer Banking Division
  • Investment Banking Division
  • Asset Management Division
  • Private Banking Division

Products and Services

Bank Muscat offers a range of products and services to its clients, which is spread over various sectors like Consumer Banking, Corporate Banking, Wholesale Banking, Al-Wathbah or SME Banking etc.

Consumer Banking
Following services are offered in Consumer Banking:
  • Accounts
    • Saving Accounts
    • Al Mazyona Children's Accounts
    • Current Deposit Accounts
    • Fixed Deposits
    • Payroll Accounts
  • Loans and Mortgages
    • Batuna Home Loans
    • Educational Loans
    • Loans for Ex-pats.
    • Loans for Omani Nationals
    • Overdraft Facility
    • Sayyarati Car Loans
  • Insurance
    • Hayatuna
    • Motor Insurance
    • Commercial Lines Insurance
  • Card Services
    • Credit Cards
    • Debit Cards
    • Merchant Services
    • Pre-Paid Cards
    • Contact Card Services
  • Ex-pat. Services
    • Ex-pat. Banking Services
    • Ex-pat. Wealth Management Services
    • Money Transfer Services
  • Money Transfer and Remittances
  • Payment Facilities
    • Bill Payment Facilities
    • Education Fee Payment
    • Payment Facility for Air Arabia Ticket
    • Priority Banking
Corporate Banking
Following services are offered in Corporate Banking:
  • Financing Solutions
  • Working Capital Finance
  • Asset Finance
  • Global Trade Services
  • Project and Structured Finance
  • Project Finance
  • Regional Corporate & Syndication Unit
  • Structured Finance
  • Corporate Services
  • Cards
  • International Branches
  • Investment Banking
  • Public & Government Sector
Wholesale Banking
The services under Wholesale Banking include:
  • Asset Management
  • Mutual Funds
  • Portfolio Management
  • Private Equity / Real Estate Funds
  • FIG
  • Investment Banking
  • Brokerage
  • Corporate Finance Advisory
  • Equity Research
  • Private Banking
  • Treasury and Capital Markets


Last Updated on May 26, 2015