MUSCAT: In recognition of its prominent role in the growth and development of the Omani banking sector and national economy, BankDhofar — the second largest bank in Oman by assets and market share —ranked among Forbes’s ‘Top 50 Banks in the Middle East’ list featuring Middle East & North Africa (MENA) banking giants that drive the region’s economy.

To construct the list, Forbes gathered data from listed stock exchanges across the Arab world and ranked companies based on sales, profits, assets and market value.

“Time and again BankDhofar stands out and proves to be one of the best banks in the region - not only in customer experience but also in operations and business growth,” said Abdul Hakeem al Ojaili, Chief Executive Officer of BankDhofar. “We have been working constantly to reinforce BankDhofar’s role as a key player in the Omani private sector and as a major contributor in driving the development and growth of the national economy.”

BankDhofar recently announced the successful raise of $250 million syndicated term facility to be utilized for general corporate purposes. The syndication was oversubscribed multiple times on the back of very strong participation from regional and international banks from the GCC, Europe and Asia, showing the confidence in BankDhofar and sovereign by international and regional banks.

Since the launch of its operations in 1990, BankDhofar has maintained a pioneering position in the Omani banking industry with strong presence in Corporate Banking, Retail Banking, Treasury and Project Finance. The combination of the thorough vision of BankDhofar’s executive management, the comprehensive operational strategy that revolves around following best international banking practices and providing best customer experience, as well as its commitment to community development and contribution to the growth of the national economy, placed BankDhofar at the forefront of best banks in the region.

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