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As oil prices rise to the US$100 per barrel mark, the surplus monies are funding a spate of infrastructure projects in Oman. This in turn has led to a heightened demand for trucks, buses, cranes and vehicles – the bread and butter business for leasing finance companies. Fat bottom lines are helping NBFCs create enhanced brand visibility through kiosks, point of sale interactions and advertisements. United Finance is using its new headquarters in Wattayah to hoist its brand while Muscat Finance and Al Omaniya have set up kiosks in Lulu hypermarket to ensure wider reach and recall.
Pioneering efforts
Having serviced 75,000 customers – far more than any other NBFC – it is no surprise that Muscat Finance gets the biggest brand recall. The company has tapped into new segments with innovations like factoring services, consumer durables and SME finance in the sultanate. With a 753-point lead over first runner-up United Finance, Muscat Finance sits comfortably on top of the charts.
Big is beautiful
United Finance, the largest leasing finance company in the sultanate beats Al Omaniya Financial Services to occupy the first runner-up spot. A swank new office, two new branches at Barka and Mawaleh and celebrations to mark ten years in business has kept the brand firmly in the public eye. The company’s plans to build a pedestrian bridge at Wattayah is sure to increase goodwill for the brand.
New kid on the block
Vision Investment Services breaks into the top ten list with a robust performance. It has marketed its products like Vision Emerging GCC Fund, Vision Emerging Oman Fund aggressively. The company has worked on building its brand with consistent advertising. Investors following the Galfar IPO are sure to have noticed the company’s print ads. |
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