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Introduction Bank Muscat Is the Largest Bank of Sultanate of Oman. It Is a Joint Stock Company That Typically Offers Wide Variet

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Introduction Bank Muscat Is the Largest Bank of Sultanate of Oman. It Is a Joint Stock Company That Typically Offers Wide Variet Introduction Bank Muscat is the largest bank of Sultanate of Oman. It is a joint stock Company that typically offers wide variety of financial and banking products and services to individuals and organizations. The banking services offered typically include a variety of retail, private, investment banking and numerous other services. In addition, Bank Muscat is also known to offer asset management, treasury and capital market products to different individuals and business customers in Sultanate of Oman. Bank Muscat is headquartered in Ruwi, Oman. The overall aim of the report is to carry out the SWOT analysis of the Bank Muscat and analyzes as how strength' weakness, opportunity and threats will influence the growth in revenue of Bank Muscat. Eventually report justifies and recommends whether Bank Muscat corporate goal should be to increase sales revenue by approximate 10% every year for the 5 years. Discussion and Analysis Bank Muscat enjoys a reputable status in Oman with the largest customer base. In Bank Muscat, market has been segmented depending upon on the people that have diverse banking needs and accordingly bank targets Individuals and Businesses. Below is performed SWOT analysis of the Bank Muscat SAOG. This comprehensive SWOT analysis of the Bank Muscat provides thorough information about company’s strengths, weaknesses, opportunities and threats. Next couples of paragraphs review these in detail. Strengths – The biggest strength of Bank Muscat is the already established network. It already has a network of 130 branches, 400 ATMs, 140+ CDMs and 4500 PoS terminals. In fact, it is the largest bank in Oman and that’s its USP. Bank Muscat already has a huge customer base that in 2013 crossed the magic figure of 1.2 million. Bank Muscat dominates the Oman market and it also has one branch each in Riyadh and Kuwait and also has certain bank representative offices in locations like Dubai and Singapore. Strength of the Bank Muscat also lies in the outstanding reputation that bank enjoys in Oman. Bank Muscat has been voted the ‘Best Bank in Oman’ for consecutive 7 years by The Banker, FT London; also Bank Muscat has been voted 9 years in a row by Global Finance and Euro money. In 2009, Bank Muscat has been awarded the esteemed Hewitt recognition as the Middle East’s Best Employer (Annual Report 2013). In 2007, Bank Must was declared an Investor in People (IiP) association and it was the first bank in the entire Middle-East region to receive such a high-status global recognition (Ko&Lee 2000). Furthermore, Bank Muscat is also the first bank in the Middle East to be totally ISO 9000:2000 certified (Annual Report 2013) Bank Muscat has over 3000 employees and it has also positioned itself as strongly dedicated to helping clients discover opportunities, handle difficulties and navigate a continuously altering marketplace. Since 1995, Bank also has a proven track record of managing funds and portfolios; in fact Bank Muscat has emerged as the largest Fund Manager in Oman. Experienced and diligent management team is also strength of the bank. Bank Muscat’s management team is one of the most practiced and qualified teams in the middle-east region. In addition, Bank Muscat has practiced business units, high profitability and profits, expert personnel, existing distribution and sales networks and also high growth rate. In 2014, the Asian Banker awarded Bank Muscat as the Best Retail Bank in Oman. It continues to uphold its leading market position by profitably increasing market share of customer deposits to 45% (Annual Report 2013). Weaknesses- While performing the SWOT analysis of the Bank Muscat, numerous weaknesses has been revealed. First of all, Bank Muscat’s business operations are strongly dependent only on the economy of Oman which can be quite risky and dangerous for the business. Any fluctuations in the economy of Oman can directly affect the sales revenues of the bank. Besides, Bank Muscat doesn’t have presence in other international locations (Batten & Szilagyi 2011).. In fact, it has nearly no international presence and also doesn’t hold strong customer base. Click Here to Buy Now. Instant Delivery in Your Mailbox. Click Here to Buy Now. Instant Delivery in Your Mailbox. Click Here to Buy Now. Instant Delivery in Your Mailbox. Click Here to Buy Now. Instant Delivery in Your Mailbox. .
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