Muscat: Bank Muscat, the flagship financial services provider in the Sultanate and in line with its vision ‘To serve you better, everyday’, was recognised for continuing its top-notch performance in 2019 by winning multiple awards. The Bank won a medley of prestigious global, regional and local awards in recognition of its outstanding achievements and commitment to offering world-class banking service to all its customers. The Bank is considered as a prolific innovator in all the banking segments it operates in.
Bank Muscat started 2019 on a strong note by winning the prestigious Best Bank in Oman award from The Banker. The winners of the Best Bank in Oman award are typically chosen for carefully attending to customer needs in difficult markets and accomplishing better results while laying the foundations for future success.
It is important to note that the bank has been selected multiple times for Best Bank in Oman awards by the editors of multiple international publications after extensive consultations with corporate financial executives and bankers, banking consultants and analysts across the world. The award criteria included growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Bank Muscat also won the Best Bank in Oman Award from Emeafinance and Euromoney in 2019, while also topping the ‘Best Bank in Oman – Large Size’ survey conducted by Oman Economic Review (OER) and Gulf Baader Capital Markets (GBCM).
In a significant boost to the offerings for Premier customers, Bank Muscat Private, targeted at ultra-high net-worth individuals (UHNIs), won the prestigious Best Private Bank in Oman award jointly hosted by Professional Wealth Management (PWM) and The Banker magazines. The PWM-Banker award, which was presented for the second year in running, recognised the bank’s unmatched Private Banking offerings which provide exceptional breadth and depth of wealth-management solutions. The Bank also won similar awards in the Best Private Bank in Oman category from Global Finance and Emeafinance to further showcase and validate the strength and offerings of the Sultanate’s premier end-to-end wealth-management solutions provider to high net worth clients.
The Bank also won Muscat Securities Market’s (MSM) Quality of Disclosure Award for 2019 in recognition of its timely disclosures and transparency. These have always been of primary importance for Bank Muscat and the award recognised the emphasis that the bank places on its disclosures to the market regulator, the stock exchange and the general public.
Bank Muscat won the Best Trade Finance Bank in Oman 2019 from Global Trade Review magazine in recognition of the services provided by its Global Trade Services (GTS) division. The GTS team at Bank Muscat blends traditional financial solutions with tailor-made packages for operations, ensuring prompt payments, managing liquidity and minimising exchange-rate risk. To meet the challenging demands of exporters, importers and local traders, Bank Muscat offers customised solutions with its strong global network.
The Bank also won the Best Industry Call Centre (Banking) at the prestigious Insights Middle East Call Centre Awards 2019 held in the UAE. As part of its customer-centric strategy, Bank Muscat operates the largest Call Centre in the banking sector in the Sultanate. Featuring the best in class technology, the Call Centre handles over 3 million calls annually. With phone bankers answering calls 24×7, the Call Centre provides services with minimal waiting time and about 90% of calls are answered within 20 seconds.
Bank Muscat was also recognised by Citibank for its operational excellence in processing dollar payments. The award recognised the bank’s exceptional quality of SWIFT messages linked to dollar payment and outstanding error-free rate for remittance transactions. The award, based on the quality and accuracy of SWIFT payment messages routed through Citibank, highlighted the bank’s commitment to high qualitative standards for fund transfers.
Consistently winning prestigious awards helps Bank Muscat set benchmarks in performance and adopt new initiatives to stretch operational excellence. Going forward, the bank is focused on sustaining competitiveness without compromising on product and service quality. The bank prides itself on its deep understanding of customer needs, offering financial expertise and guidance at all levels. Driven by robust policies to achieve global best practices, Bank Muscat is focused on strategic initiatives to confront challenges and further increase its market share.