Moody's: Omani banks face profitability pressures from slower economy and Islamic finance penetration
DIFC- Dubai, January 30, 2017-- The three largest Omani banks-- BankMuscat S.A.O.G., Bank Dhofar SAOG and National Bank of Oman Limited-- are facing dual profitability pressures from slowing economic growth and the rapid penetration of Islamic finance, which is intensifying competition for financial products. Moody's considers, however, that BankMuscat, Oman's largest bank by assets, is the best positioned of the three to withstand these pressures. Moody's report, entitled "...
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