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Quarterly Results 2008 - Chairman's Report

With asset worth over USD 11.9 billion, BankMuscat (SAOG) is the largest financial services provider in Oman today with a strong presence in Corporate Banking, Retail Banking, Investment Banking, Treasury, Private Banking and Asset Management. The Bank has a network of 115 branches and over 283 ATMs and 67 CDM’s in Oman, a branch in Riyadh, Saudi Arabia, and a representative office in Dubai (UAE). BankMuscat currently owns 49% of BMI Bank B.S.C ©, an independent bank in the Kingdom of Bahrain that is focused on becoming a truly GCC bank. The Bank also has a 43% state the Mangal Keshav Group, one of the oldest and most respected securities houses in the fast- growing Indian equities market. Earlier this year, the Bank acquired a 35% stake in Saudi Pak Commercial Bank to enter the high-growth Pakistan Market.

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BankMuscat Half-Yearly Net Profit at RO 57.8 million Profits Rise by 43.7% During the First Half of 2008

The Bank has achieved a net profit of RO 57.8 million for the half year ended June 30, 2008 as against a net profit of RO 40.2 million reported during the same period in 2007, which resulted in an impressive growth of 43.7%.

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Mutual Funds NAV

18 August 2008

Oryx (2004) Fund - 2.036
Muscat Fund -   2.305

BM-MSCI Kuwait Fund -
USD $1.2807

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