The National Bank of Oman SAOG (the
Bank) was established in the Sultanate of Oman in 1973 as a joint stock company (under registration no. 1003704) and is engaged in retail banking, corporate banking, investment, treasury, international and Islamic banking services. In Arabic it is known as "Bank Al Watani" and its registered address is P.O. Box 751, postal code 112 Ruwi, Muscat, Oman. The Bank's website address is www.NBO.co.om. The Bank's shares are listed in the Muscat Stock Exchange under the company code "NBOB". As at 31 December 2013, the Bank was the second largest listed bank in Oman by total assets, representing approximately 13.0 per cent of total assets, 13.9 per cent of total loans and 13.6 per cent of total deposits (source Central Bank's 2013 Consolidated Balance Sheet).
As at 31 December 2013, National Bank of Oman had a network of 65 branches and 169 automatic teller machines (ATMs) and cash and cheque deposit machines (CCDMs). The Bank provides banking services to approximately 367,000 individual customers and approximately 18,000 corporate and SME customers.
As at 30 June 2014, its international operations accounted for 3.8 per cent of its total assets. In 2013, the Bank secured a banking license to open a branch in Dubai and as a result it now has two branches in UAE, one in Abu Dhabi and one in Dubai. The Bank also has operations in Egypt, although these operations are not significant, accounting for 0.6 per cent of the Bank's total assets as at 30 June 2014. In 2013, the Bank also launched Islamic banking operations in Oman under the brand name "Muzn". During the first half of 2014, two Islamic banking branches were opened, in addition to one branch, which opened in 2013.
For the six-month period from 1 January to 30 June 2014, the Bank achieved a net profit of OMR 23 million, an increase of 22.3 per cent, compared to OMR 18.8 million for the same period the previous year.
For the year 2013, the Bank achieved a net profit of OMR 41.4 million, an increase of 1.8 per cent compared to OMR 40.7 million in 2012. National Bank of Oman’s total assets amounted to OMR 3.5 billion as at 30 June 2014, an increase of 21.5 per cent against OMR 2.9 billion as at 31 December 2013, which in turn constituted an increase of 14.1 per cent compared to OMR 2.5 billion as at 31 December 2012.
Shareholders' equity amounted to OMR 334.7 million as at 30 June 2014, an increase of 2.3 per cent from OMR 328.1 million as at 31 December 2013, which in turn constituted an increase of 7.8 per cent from OMR 304.5 million as at 31 December 2012.
Since 1 January 2014, the Bank has been required by the Central Bank to maintain a minimum total capital adequacy ratio of 12.625 per cent. The Bank's total capital adequacy ratio is calculated in accordance with Central Bank guidelines, and as at 30 June 2014 was 14.1 per cent, compared to 14.6 per cent as at 31 December 2013 and 14.4 per cent as at 31 December 2012. The Bank's Tier 1 capital ratio was 11.3 per cent as at 30 June 2014, compared to 11.8 per cent as at 31 December 2013 and 11.7 per cent as at 31 December 2012. Capital ratios as at 30 June 2014 are calculated without including interim profits, whereas capital ratios as at 31 December 2013 and 31 December 2012 are calculated to include full-year retained profits.
As at 31 December 2013, the authorised ordinary share capital of the Bank comprised 2,000,000,000 ordinary shares of OMR 0.100 each and the issued and fully paid-up ordinary share capital of the Bank comprised 1,108,025,000 ordinary shares of OMR 0.100 each. As at 30 June 2014, 34.9 per cent of the Bank's issued share capital was held by the Commercial Bank of Qatar Q.S.C. (CBQ). The Bank operates as one of CBQ's "alliance banks", enabling it to partner with other alliance banks on specific cross-border/international.
The banking industry in Oman is regulated by the Central Bank, which regularly carries out on- and off-site examinations of financial institutions. The Central Bank has imposed guidelines that monitor capital, liquidity, funding mismatches, investments and overseas exposures in addition to general banking operations.
National Bank of Oman has been accorded the following credit ratings by the industry’s leading rating institutions:
Moody’s (June 2016)
|Bank Deposit||Base line Credit Assessment|| Adjusted Base line Credit Assessment ||Senior unsecured||Outlook|
Capital Intelligence (June 2016)
| Foreign currency Long-Term || Foreign currency Short-Term || Bank Financial|
| Support || Outlook |
Fitch Ratings (June 2016)
|Short-Term||Viability rating||Support rating||Support rating floor||Outlook|
Annual Report Requests
To request for National Bank of Oman’s Annual Reports, please send your written requests to:
The Financial Control Division
National Bank of Oman
P.O. Box 751 - P.C. 112, Ruwi
Sultanate of Oman
Muscat Depository & Securities Registration Co.
P.O. Box 952 - P.C. 112, Ruwi
Sultanate of Oman
Ms. Fatma Al Harthy: +968 24778311 -
Mr. Suliman Al Amri: +968 24778322
National Bank of Oman
P.O. Box 751
Sultanate of Oman
Major Shareholders (September 2015)
|SUHAIL BAHWAN GROUP HOLDING LLC||14.74|
|CIVIL SERVICE EMPLOYEES PENSION FUND||10.73|
|HSBC A/C MINISTRY OF DEFENCE PENSION FUND||7.66|
|PUBLIC AUTHORITY FOR SOCIAL INSURANCE||6.47|
|ROYAL OMAN POLICE PENSIONS TRUST LLC||2.91|
|STATE GENERAL RESERVE FUND||2.80|
|RIMAL INVESTMENT PROJECTS LLC||2.46|
|UNITED DEVELOPMENT COMPANY||1.56|
|NATIONAL EQUITY FUNDS||1.01|
|ROYAL GUARD OF OMAN PENSION FUND||0.96|
|Other Shareholders ||13.80|
Quarterly Financial Information
UAE Annual Financial Reports