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NBO’s financial strength rating raised to ‘BBB+’

: Thursday, July 10 - 2014 @ 00:07

Capital Intelligence (CI) has raised National Bank of Oman’s (NBO) financial strength rating to ‘BBB+,’ supported mainly by its improved liquidity position and large base of customer deposits, Muscat Daily has reported. The international credit rating agency said the rating is also underpinned by the sound capital adequacy ratio of the bank, together with a high Tier-1 component and its good loan asset quality. “While non-performing loans (NPLs) have increased in both 2013 and first quarter 2014, these remained fully covered by loan-loss reserves,” CI said.

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Thursday, July 10- 2014 @ 0:07 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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