1 View from the top
Muscat Finance
Muscat Finance’s customer retention capabilities find an echo in its brand ranking
POINT
Muscat Finance Company achieved a record profit for the year 2005, making it the 15th year of continuous improvement in profits. The company also has a high proportion of repeat customers, and word-of-mouth does its bit to strengthen the brand.
COUNTER POINT
The increased number of choices for the customer, who has high awareness levels, and the aggressive competition among finance companies are the main challenges for the company.
QUOTE CALL
S Vijayraghavan
Marketing manager,
MFC
“MFC believes in targeting and acquiring quality customers and in building strong and lasting relationships with these customers.”
TRIVIA
In 1995, MFC introduced debt factoring for the first time in the entire Middle East |
2 Secure solutions
Al Omaniya
Strong fundamentals and steady ambition mark Al Omaniya Financial Services’ brand performance
POINT
Al Omaniya Financial Services (AOFS) is looking at the Qatar market for expansion of its brand. There was more good news for AOFS customers when the company proposed the distribution of a 21 per cent cash dividend.
COUNTER POINT
AOFS’ 106 per cent coverage against non-performing assets could be construed as over-judicious. Also, it wasn’t too long ago that the company’s plans to enter Bahrain didn’t get its board’s approval.
QUOTE CALL
From the company philosophy
“We believe the purpose of our business is to create superior value for all our stakeholders with increased profitability that reflects the positive aspects of effective corporate governance.”
TRIVIA
AOFS’ net profit for the
first six months of
2006 was RO966,000 |
3 Mission driven
United Finance
Product innovation and customer service steer United Finance Company's brand image
POINT
Its asset size and ambition automatically land United Finance Company(UFC) in the finance major's list. In 2005, the company's capital rose 67 per cent. UFC's six-year insurance linked complete car loan stays unique till date.
COUNTER POINT
UFC's plans for the future took a hit when CBO rejected its proposal for conversion to a holding company. If all had gone as planned, United Holding would have embarked on a major expansion plan.
QUOTE CALL
Raghavan K Murti
Chief Executive Officer,
UFC
“Our wide product range, providing end-to-end finance solutions, are delivered with friendliness to individuals, corporates and dealers in a flexible and timely manner. UFC's own benchmark standards ensure our deep presence in the market and give us incremental market share.”
TRIVIA
In 2002, UFC became the first company to issue convertible bonds to the general public
in Oman |
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