Sector: Banks & Financial Services
CEO: Waleed Khamis Al Hashar
Market Value: $5.3 billion
Established in 1982, Bank Muscat operates in six countries, with 173 branches in Oman, one branch each in Saudi Arabia and Kuwait, and three representative offices in the U.A.E., Singapore, and Iran. The bank is the largest in Oman by total assets, which stood at $33.2 billion in 2022. It has 2.4 million customers. In October 2022, the bank sold its 27.29% stake in SICO Capital KSA (previously Muscat Capital) and acquired an additional 2.76% stake in SICO Bahrain, increasing its stake to 13.14%. The Omani bank is listed on the Muscat, London, and Bahrain Stock Exchanges.