MUSCAT, 6 February 2013 — Bank Muscat, the flagship financial services provider in the Sultanate, hosted an investor meet at Muscat Securities Market (MSM) on Wednesday, 6 February, to discuss the bank’s 2012 results and business prospectus for the year 2013. AbdulRazak Ali Issa, Chief Executive, along with senior Management Team, addressed the meeting attended by shareholders, investors, the media and i recommend
analysts from brokerage and investment companies.
AbdulRazak Ali Issa said: “Amid the slow global economic recovery, the key business lines of the bank recorded healthy performance on expected lines in 2012. Following 31 years of successful growth, the Sultanate’s flagship bank is poised to further consolidate its leading position. The opportunities identified by the bank include major infrastructure development projects and government focus on economic diversification and tourism development. Every year, over 50,0000 Omanis are entering the workforce and the bank envisages substantial opportunities and sizeable “unbanked market” as 49 per cent of the population is below 25 years..
AbdulRazak Ali Issa said: “The outlook for Oman’s economy in 2013 is positive as the government has announced a 29 per cent increase in spending. Infrastructure projects will continue to give a fillip to the economy in 2013 as part of the 8th Five-Year Plan, which has received a 35 per cent increase in expenditure outlay pegged at RO 58 billion.”