The National Bank of Oman (NBO) is the second-largest bank in the Sultanate of Oman. Founded in 1973, as of December 31, 2007 it has a net worth of RO (Omani Riyals) 220.5 million, with a paid up capital of RO 92 million (US $ 239 million). The bank runs 54 branches across Oman but has its headquarters based in Muscat, and runs 128 ATMs as well as 5 branches in Egypt and 1 in the United Arab Emirates.
Ownership of the bank comprises a 34.9% share held by a leading private sector investor and 27% of its equity controlled by public sector agencies. The remaining equity is held by leading private sector investors in Oman.
In 2006, the Bank won the "Best Bank in Oman 2006" accolade, awarded by The Banker Magazine and Financial Times Business of the United Kingdom. In 2007, the Bank was awarded the "Best Corporate Social Responsibility Award 2007",
The Oman Housing Bank (OHB)
The Oman Housing Bank (OHB) provides housing loans for nationals to enable them to purchase, build or complete their homes. Its capital has been increased to RO30 million to enable it to expand the scope of its operations and obtain loans for a larger number of applicants. The OHB charges a limited service fee for subsidised loans in response to directives issued by Sultan Qaboos. In this way the financial burden on loan applicants is minimised. The bank also grants non-subsidised loans with additional facilities to other applicants. Most of its loans are subsidised as part of the government’s policy of supporting those on limited incomes.
The Oman Development Bank (ODB)
The Oman Development Bank (ODB) was established in 1997 as an Omani public joint-stock company in a merger between the Development Bank of Oman and the Oman Bank for Agriculture and Fisheries. It is now a closed joint stock company, following the issue of Royal Decree No. 18/2006 issued on 11th March 2006. The ODB operates on economic principles while maintaining a proper social perspective by supporting small projects. Projects supported by loans in excess are financed by the Ministry of Commerce and Industry or one of the other financial institutions. The ODB has been granted exemption from all taxes and the government subsidises the interest payable on the soft loans it grants to fund private sector projects. The bank also provides other loans on a medium or long term basis to help fund projects, as well as technical assistance and advisory services to Omani companies. In addition, it acts as an export credit guarantee agent and distributes sums from the Fisheries Research Fund.
The Alliance Housing Bank (AHB)
The Alliance Housing Bank (AHB), which was incorporated in 1997 is the GCC’s first private sector housing bank, and has seven branches and service centres in the Sultanate of Oman. This Bank offers mortgages on properties in the Sultanate of Oman. Its customers are Omani and other GCC nationals. The bank was set up as a joint governmentprivate sector co-operative venture in response to the dramatic growth taking place in the building construction sector over recent years. The AHB offers a range of products to the Omani public in support of the government’s housing policy.
