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The banking industry is one of the most progressive sectors in the sultanate. From branch networks to products, banks have been working hard to bring best practices to the table. While most banks in the sultanate are striving to raise the bar, some of them seem to be faring better than the others. BankMuscat not only outscores others but also manages to increase its lead over NBO, the first runner-up. As banks strive to up their ante, the gap between the winners and laggards may get more pronounced. The onus now lies with NBO, OIB, Bank Dhofar and Bank Sohar to narrow the gap with the leader, BankMuscat.

The surprise factor

Ironically, National Bank of Oman (NBO), which prides itself as the carrier of the sultanate’s name, gets a cold shoulder from nationals who prefer HSBC over it. The results underline an important argument – the final verdict by a customer depends on a brand’s ability to deliver. A customer’s choice is based on a brand’s merit and not on considerations of nationality or region. Old timers might not be too surprised as HSBC’s presence in the sultanate precedes that of NBO, BankMuscat or any other bank. Having been around for a long time, the multinational has made definite inroads into the local community. Shall we dare say HSBC is more Omani than an Omani bank?

Consistent performance

BankMuscat maintains its overwhelming dominance of the charts. More remarkable is the uniformity of strength that the brand exhibits – it comes out trumps in every individual category: Omani, expatriates, men, women, below and above 35 years. An ability to appeal to every segment and age group shows the depth of the brand and its stellar appeal.