BankMuscat

BankMuscat

Infobox Company
company_name = Bank Muscat
company_
company_type = Public
foundation = Muscat
founder =
location_city = Muscat, Oman
location_country =
key_people = AbdulRazak Ali Issa, CEO
industry = Finance and Insurance
products = Financial Services
revenue = $450 million USD
num_employees =
homepage = [http://www.bankmuscat.com/ www.bankmuscat.com]

BankMuscat (BKMD) is the largest bank in Oman by total assets worth over US $13 billion [http://www.zawya.com/cm/profile.cfm/cid4757] . The Bank has a network of over 115 branches [http://www.menafn.com/qn_news_story_s.asp?StoryId=1093208435] , a branch in Riyadh (Saudi Arabia), and a representative office in Dubai (UAE). The bank became the first Omani company to list itself on the London Stock Exchange in October 2005 [http://www.londonstockexchange.com/en-gb/about/cooverview/thesource/sourcenewsarchive/bankmuscat.htm] , and is currently listed on the Muscat Securities Market.

Originally founded as Oman Overseas Trust Bank in 1982 [http://www.zawya.com/cm/profile.cfm/cid4757] , the bank has gone through major mergers and acquisitions to reach its current state and size. Firstly, in 1993 the bank merged with Al Bank Al Ahli Al Omani [http://www.zawya.com/cm/profile.cfm/cid4757] . Next, in 1999, BankMuscat merged with Commercial Bank of Oman [http://www.zawya.com/cm/profile.cfm/cid4757] . Then in 2001, a third merger with Industrial Bank of Oman was implemented [http://www.zawya.com/cm/profile.cfm/cid4757] . Finally, in September 2004, it was announced that BankMuscat was to merge with the National Bank of Oman [http://www.zawya.com/cm/profile.cfm/cid4757] .

BankMuscat also has a strategic stake in BankMuscat International (BMI) Bank, a Bahrain based commercial bank and a 43% stake in the Mangal Keshav Group, one of the oldest and most respected securities houses in the fast-growing Indian equities market. BankMuscat also acquired a 35% stake in Saudi Pak Commercial Bank, Pakistan in early 2008 [http://www.gulfbase.com/site/interface/NewsArchiveDetails.aspx?n=51814] .

References


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