Overview
Bank Muscat is Oman’s premier financial institution — the country’s largest bank by total assets (approximately OMR 15+ billion), market capitalisation, deposit base, and branch network. Founded in 1982 and listed on the Muscat Stock Exchange, Bank Muscat has grown into a systemically important bank with a domestic franchise that touches a substantial majority of Oman’s commercial banking activity.
Significant government shareholding via OIA (formerly SGRF) and the Royal Court Affairs gives Bank Muscat a semi-sovereign character — a private bank by structure but with strong government strategic alignment and implicit support.
Domestic Franchise
Bank Muscat’s domestic network — branches, ATMs, digital banking — is the most extensive in Oman. This franchise depth gives the bank unparalleled access to retail deposits (a stable, low-cost funding base) and relationships with corporate and government entity customers.
Corporate banking: Bank Muscat is the lead arranger or co-arranger for virtually all major Omani corporate debt transactions — project finance for energy infrastructure, syndicated lending to large corporates, and government-linked entity financing. Its role in the OQEP IPO financing and major infrastructure projects is illustrative.
Retail banking: Consumer loans, mortgages, credit cards, and wealth management for Oman’s retail market. A significant employer of Omani nationals in branch banking and financial services roles.
Islamic banking (Meethaq): Bank Muscat’s Islamic banking window, Meethaq, is one of Oman’s leading Islamic financial services providers.
Capital Markets Role
Bank Muscat’s investment banking arm is involved in Muscat Stock Exchange transactions — equity capital markets (IPOs, rights issues), fixed income (government and corporate bonds), and advisory services. As Oman’s capital markets deepen under Vision 2040, Bank Muscat’s investment banking capability becomes more strategically significant.
Regional Ambitions
Bank Muscat has pursued cautious regional expansion — primarily into GCC markets and, historically, into Egypt and Saudi Arabia. Regional expansion is constrained by capital allocation priorities and competitive dynamics in target markets.