Moody's: Oman banks stable

The outlook for the Omani banking system remains stable, reflecting its remoteness from and relative resilience to the recent global economic turmoil, Moody's Investors Service said in a new report.

The stable outlook also incorporates the challenges faced by the banks to expand their franchise and maintain good credit quality metrics in a small, narrow and highly concentrated market, the agency said.

The global financial crisis posed minimal risks for the performance and ratings of Omani banks, as Oman is an introverted market and local banks have little exposure to western markets, Moody's said.

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