Fitch Ratings has affirmed the credit ratings of Bank Muscat, Sohar International Bank and National Bank of Oman (NBO), maintaining stable outlooks for all three lenders. Bank Muscatβs Long-Term Issuer Default Rating (IDR) and Viability Rating (VR) remain at BBB- and bbb-, respectively, while Sohar International and NBO retain ratings of BB+ and bb+. Fitch highlighted favourable operating conditions for Omani banks, supported by oil-sector revenues, resilient financial profiles and the country's continued commitment to economic diversification under Oman Vision 2040. Bank Muscat's leading market position, Sohar International's expanded franchise following its merger with HSBC Bank Oman, and NBO's established domestic presence were among the factors supporting the assessments. The ratings also recognise the potential for support from Omani authorities, reflecting the banking sector's importance to the national economy. These affirmations underline the resilience of Oman's financial institutions and the importance of strong capital, liquidity and risk management in sustaining confidence across the financial sector.
