National Finance Company – National Ratings Affirmed

12 November 2026

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long- and Short-Term issuer ratings of National Finance Company SAOG (NFC or the Company) on the Oman National Scale at ‘omA’ and ‘omA1’, respectively. The Outlook on the ratings is Stable.

The ratings are supported by NFC’s franchise as the largest non-bank financing institution (NBFI) in Oman, sound capitalisation and debt service capacity, good profitability, and a well-diversified lender base. Other factors supporting the ratings are the strength of its largest shareholder – the financially sound Ominvest – as well as NFC’s strong and experienced management team. While direct shareholder support has not been needed or demonstrated to date, ordinary support is expected to be available; Ominvest has a good record in this respect for ordinary support for other companies and banks in which it has major holdings.

The main credit challenges are the…