National Bank of Oman’s Ratings Affirmed with a Stable Outlook
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Ref: OM006 21 CRA00- 0 1 18 May 2022
National Bank of Oman’s Ratings Affirmed with a Stable Outlook
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long -Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of National Bank of Oman (NBO) at ‘BB’ and ‘B’, respectively. At the same time, CI Ratings has affirmed NBO’s Bank Standalone Rating (BSR) of ‘bb’, Core Financial Strength (CFS) rating of ‘bbb-’ and Extraordinary Support Level (ESL) of Moderate. The Outlook for the LT FCR and BSR is Stable.
The Bank’s BSR is derived from a CFS rating of ‘bbb-’ and an Operating Environment Risk Anchor (OPERA) of ‘bb-’. The latter denotes moderate risk and takes into account the improving macroeconomic environment due to higher oil prices.
The BSR and CFS rating are driven by the strong growth of customer deposits, together with an…