National Bank of Oman

What National Bank of Oman does

National Bank of Oman (NBO) is a publicly listed Omani commercial bank founded in 1973 and headquartered in Muscat, operating 60 branches across the Sultanate of Oman with 1,001-5,000 employees. It is regulated by the Central Bank of Oman and listed on the Muscat Securities Exchange (MSX) under ticker NBO. NBO provides a full-service banking platform spanning retail, SME, corporate, Islamic banking (via the Muzn sub-brand), and priority/private banking (Sadara Elite, Mazaya Privilege). Its product suite includes deposit accounts, structured deposits, home/personal/car loans, Islamic financing (Iskan), Visa credit cards across four tiers (Gold through Infinite), debit cards, the Badeel prepaid card ecosystem, and Takaful/Himayati insurance distribution. The bank reported OMR 70.2 million in net profit for 2025, ranking third among MSX-listed Omani banks, and was named Best Bank in Oman 2023 by The Banker.

NBO operates a hybrid physical-digital distribution model. Its 60-branch retail network is supplemented by 24/7 self-service kiosks supporting account opening, card printing, and cash/check deposits up to OMR 7,000; an ATM/CCDM network; and a contact center (24770000). Digital channels include iOS/Android mobile banking apps, an internet banking portal, a Badeel prepaid card app, and a MarketZone stock trading app. Payment integrations span Apple Pay, Samsung Wallet, Garmin Pay, Visa, Mastercard, OmanNet, and UnionPay (NBO is the first Omani bank to accept UnionPay tap-to-pay). The Nuqati rewards program, with Qatar Airways Avios conversion, anchors card-linked loyalty.

NBO generates revenue primarily through traditional net interest income on personal, mortgage, auto, and corporate lending, supplemented by credit card annual fees (OMR 10.50-63), transaction fees, insurance distribution commissions, and FX/transfer fees. Capital structure was strengthened in November 2025 by a $450 million AT1 securities issuance listed on Euronext Dublin — the largest US dollar AT1 issuance by an Omani bank internationally, fivefold oversubscribed. Recent strategic activity (2024-2026) is heavily focused on digital ecosystem buildout, including alliances with Paymob (merchant PSP), UnionPay (NFC payments), Ooredoo Fintech (digital wallet, March 2026 MoU), and Oman Airports Management Company (airport payments and rewards, April 2026), all aligned with Oman Vision 2040 digital transformation objectives.

Name

National Bank of Oman

Legal name

National Bank of Oman

Website

https://nbo.om

Company type

Public

Founded year

1973

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

National Bank of Oman is a publicly listed Muscat-based commercial bank offering retail, SME, corporate, Islamic (Muzn), and priority banking services across 60 branches in Oman, supported by digital channels and partnerships in payments and fintech.

Ownership category

akta.pro rank

Product category

Commercial Banking

NAICS

Commercial Banking (522110), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021), State Commercial Banks (6022)

akta.pro primary industry

Islamic Retail Banking (FSABAGAA)

akta.pro secondary industries

Islamic Corporate Banking (FSABAGAC), Islamic SME & Commercial Banking (FSABAGAB), Islamic Private Banking & Wealth (FSABAGAD), Islamic Deposit & Account Products (Current/Savings/Investment Accounts) (FSABAGAI)

Keywords

• Retail banking services
• Corporate banking solutions
• Islamic banking products
• Credit card services
• Wealth management

Headquarters

HQ city

Ruwi

HQ country

Oman

HQ region

Middle East

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income: Traditional banking lending operations generating interest income from personal loans, home loans, car loans, and corporate lending. The bank reported OMR 70.2 million in net profits for 2025, ranking third among MSX-listed Omani banks.
2. Card Fees and Charges: Annual fees from credit cards (Infinite OMR 63, Signature OMR 47.25, Platinum OMR 31.5, Gold OMR 10.5), supplementary card fees, and transaction fees. Prepaid card reload fees and ATM charges.
3. Insurance Products Distribution: Distribution of third-party insurance products including motor insurance (Takaful Motor Plan), life insurance (Himayati), health insurance (My Health Plus), and credit shield insurance on credit cards.
4. Account and Deposit Services: Various account types (current, savings, youth, retiree, super saver) generating deposits used for lending operations. Fee-free banking for youth accounts, minimum balance requirements for premium accounts.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

National Bank of Oman is a publicly listed commercial bank in the Sultanate of Oman providing retail, SME, corporate, Islamic, and private banking services. Its core offerings span deposit accounts (current, savings, youth, privilege, priority, retiree), structured deposits, personal and home loans, car loans, credit and debit cards, prepaid cards, life and general insurance, merchant services, treasury and trade finance, plus digital banking through mobile and internet channels, self-service kiosks, and contactless wallets.

Product overview

National Bank of Oman operates a diversified, multi-channel banking platform serving retail, SME, corporate, and Islamic banking customers. The core personal banking suite includes a full range of deposit accounts (Children's, Youth, Current, Savings, Super Saver, Mazaya Privilege Banking, Sadara Priority Banking, and Retiree accounts), structured deposits (Long-Term Deposit, 90/10 Fixed Deposit), and lending products (Home Loans, Iskan Islamic Home Financing, Personal Loans, and Car Loans). The card portfolio spans Visa Infinite, Visa Signature, Visa Platinum, and Visa Gold credit cards, plus debit cards (including Youth Titanium and Sadara Visa Signature Debit) and Badeel prepaid cards (General and Travel multicurrency variants). Insurance is offered through Takaful Elite Life Plan, Himayati Life, Motor, and Health Plus products. The digital banking layer includes an NBO Mobile Banking App (iOS/Android), Internet Banking portal, Badeel Prepaid Cards app, MarketZone stock trading app, Apple Pay, Samsung Wallet, Mobile Wallet, Cardless Cash Withdrawal, Instant International Transfers, Merchant App, Self-Service Kiosks, and 24/7 ATM/CCDM network. NBO's Islamic banking is delivered through its Muzn sub-brand. The rewards ecosystem is anchored by the Nuqati program. Recent strategic partnerships include digital payment collaborations with Ooredoo Fintech (digital wallet ecosystem, March 2026 MoU), Oman Airports (airport payments and rewards, April 2026), Paymob (merchant digital payments, January 2024), and UnionPay International (NFC mobile payments, January 2024).

Differentiator

Problem solved

Functional benefit

Brands

• Muzn: Islamic banking brand offering Sharia-compliant banking products and services

Products and services

• Current Account Day-to-day banking account for managing personal or business finances with features for prompt and efficient financial management.
• Savings Account Standard savings account with competitive interest rates for individuals to deposit and grow their savings over time.
• Super Saver Account High-interest savings account earning 0.5% per annum on daily balances, with promotional periods offering up to 5x normal interest rates; minimum opening deposit of OMR 100.
• Youth Account Savings account for students and young adults aged 18-25 with free debit card, free e-banking, no minimum balance charges, and preferential education loan rates.
• Children's Account Savings account designed for children to help parents secure their child's future finances with appropriate controls and savings goals.
• Retiree Account Specialized banking account for retirees, offering tailored banking services and benefits for the retirement segment.
• Mazaya Privilege Banking Premium banking service for customers with OMR 15,000 deposit or OMR 1,000+ salary transfer, including a dedicated relationship manager, platinum debit card, free first-year credit card, preferential loan and deposit rates, and investment products.
• Sadara Priority Banking Exclusive wealth management and priority banking service offering dedicated relationship management, exclusive investment opportunities, preferential rates, dedicated parking, and customized real estate financing.
• Long-Term Deposit Risk-free savings product offering a fixed interest rate over a customer-chosen period, ideal for investors who want to avoid capital risk while earning returns.
• 90/10 Fixed Deposit Structured fixed deposit product offering fixed returns with a portion of deposits allocated to investment, providing an alternative to traditional fixed deposits.
• Visa Infinite Credit Card Premium credit card offering 2% reward points on international POS, unlimited airport lounge access, multi-trip travel insurance, complimentary chauffeur service, and 5% cashback on dine-in at Omani restaurants.
• Visa Signature Credit Card Credit card offering 1.5% reward points on international POS, 12 airport lounge accesses per year, 4 complimentary airport chauffeur trips, and 5% cashback on dine-in at local restaurants.
• Visa Platinum Credit Card Credit card offering 1% reward points on merchant and online transactions, 6 airport lounge accesses per year, and 5% cashback on dine-in transactions at Omani restaurants.
• Visa Gold Credit Card Credit card offering spending power and convenience with standard gold-tier benefits including rewards, discounts, and lifestyle privileges.
• Business Credit Card Credit card designed for corporate and business customers, providing spending controls, expense management, and business-oriented rewards and benefits.
• Youth Titanium Debit Card Debit card tailored for youth account holders, providing secure access to funds and international acceptance for students and young adults.
• Badeel Prepaid Cards Family-oriented prepaid cards (General and Travel variants) providing easy expense management, multicurrency support for travel, and control over family budget; accepted globally via Mastercard.
• Badeel Travel Prepaid Card Multicurrency prepaid travel card enabling safe, cashless carrying of multiple foreign currencies in a single card, supporting transactions in the relevant local currency worldwide.
• Home Loans Housing loans for purchasing homes, offering competitive rates and flexible repayment terms for individuals looking to finance residential property.
• Iskan Home Financing Program Islamic-compliant home financing program aligned with Sharia principles, providing an alternative to conventional home loans for eligible customers.
• Personal Loans Unsecured personal loans for individual financial needs, including education, debt consolidation, and general expenses.
• Car Loans Financing solutions for purchasing vehicles, offering competitive rates and flexible tenures for both new and used cars.
• Takaful Elite Life Plan Sharia-compliant (Takaful) elite life insurance plan providing comprehensive coverage and savings benefits for high-net-worth customers.
• Himayati Life Insurance Life insurance product designed to provide financial protection and peace of mind for families and individuals.
• Himayati Motor Insurance Motor vehicle insurance covering damage, theft, and third-party liability, providing comprehensive protection for vehicle owners.
• Himayati My Health Plus Health insurance product offering medical coverage and healthcare benefits for individuals and families.
• Nuqati Rewards Program Loyalty and rewards program earning customers Nuqati points on eligible card transactions, redeemable for rewards, Avios conversions with Qatar Airways, and other benefits.
• NBO Mobile Banking App Mobile banking application for iOS and Android enabling customers to manage accounts, transfer funds, pay bills, apply for cards and loans, top up prepaid cards, and access card management features.
• Internet Banking Online banking portal providing 24/7 access to account management, fund transfers, bill payments, statement viewing, and transaction monitoring with OTP security.
• Badeel Prepaid Cards Mobile App Dedicated mobile application for managing Badeel prepaid cards, including balance top-ups, spending limits, card activation, and transaction monitoring.
• Apple Pay Contactless mobile payment service integrated with NBO credit and debit cards, enabling secure payments via iPhone and Apple Watch at NFC terminals.
• Samsung Wallet Contactless mobile payment service integrated with NBO cards, enabling secure NFC payments via Samsung devices.
• Mobile Wallet NBO's mobile wallet solution enabling customers to store card information and make contactless payments using NFC-enabled mobile devices.
• Merchant App Mobile application for merchants to accept digital payments, manage transactions, and access merchant services including sales reporting and settlement.
• MarketZone Stock Trading Mobile App Mobile application for stock trading and investment management, enabling customers to buy and sell securities via their smartphones on iOS and Android.
• Self-Service Kiosks 24/7 self-service kiosks at branches enabling account opening, card issuance, cash deposits up to 300 notes per transaction, cheque deposits, bill payments, and account enquiries.
• ATM & CCDM Network Extensive network of automated teller machines and cash deposit machines across Oman providing 24/7 access to cash withdrawals, deposits, balance enquiries, and other banking transactions.
• Safe Deposit Box Secure storage service for valuables and important documents, available 24/7 with modern security systems including access cards, PIN codes, and biometric verification.
• Systematic Investment Plan (SIP) Investment plan allowing customers to invest as little as OMR 100 monthly from their paycheck into a portfolio with access to global and local markets, supported by a dedicated investment team.
• Cardless Cash Withdrawal Service allowing customers to withdraw cash from ATMs without using a physical card, using a secure PIN or OTP generated via mobile banking.
• Instant International Transfers Service enabling real-time international money transfers to multiple countries with competitive exchange rates and fast settlement.
• Easy Payment Plan Installment payment facility allowing credit cardholders to convert large purchases into manageable monthly installments with competitive rates.
• Muzn Islamic Banking Sharia-compliant Islamic banking sub-brand of NBO, offering a full range of Islamic banking products and services for retail, SME, and corporate customers.

Quantifiable outcome

• OMR 70.2 million net profit in 2025, 10.5% sector growth to OMR 578 million
• +2 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature4 records

Partnerships

Four partnerships are on record, tiered core and major.

• Oman Airports Management Company (OAMC)coreStrategic or Co-development Partner · 8 April 2026Strategic collaboration to develop an integrated digital payments and rewards ecosystem at Oman's airports. Aims to improve payment convenience, customer engagement, and overall passenger experience while supporting Oman's tourism and aviation sector development.
• Ooredoo FintechcoreStrategic or Co-development Partner · 31 March 2026MoU signed to develop digital financial services and payment solutions including a digital wallet ecosystem. Aligned with Oman Vision 2040 digital transformation goals, focusing on banking infrastructure, payment services, and fintech initiatives for corporates and fintechs in the Sultanate.
• PaymobcoreTechnology or Integration · 31 January 2024Strategic alliance to transform digital payments in Oman. Paymob, a leading financial services enabler in MENA and Pakistan, received Payment Service Provider (PSP) license from Central Bank of Oman to enable merchant payment acceptance solutions.
• UnionPay InternationalmajorTechnology or Integration · 23 January 2024Partnership to enable contactless mobile payments via UnionPay tap-to-pay technology. NBO became the first bank in Oman to accept UnionPay tap-to-pay transactions, expanding payment options for customers.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Regional players

• National Bank of Bahrain: Largest retail bank in Bahrain with similar full-service retail, corporate, and treasury offerings and comparable size. Regional GCC peer sharing NBO's conventional-plus-Islamic strategy and government-linked shareholding patterns.
• Gulf Bank (Kuwait): Kuwaiti conventional commercial bank of comparable scale offering retail, corporate, and treasury services. GCC regional peer relevant for benchmarking NBO's deposit-gathering, lending, and digital banking strategy.

Broad incumbents

• Commercial Bank of Qatar: Qatari full-service commercial bank with retail, corporate, and treasury offerings comparable to NBO. Larger and broader GCC incumbent providing scale and product benchmarks relevant to NBO's regional ambitions.
• Al Rajhi Bank: Largest Islamic bank globally with extensive GCC presence and Sharia-compliant retail and corporate banking. Comparable to NBO's Muzn Islamic banking business at scale and a benchmark for Islamic banking product innovation.

Direct peers

• Alizz Islamic Bank: Dedicated Omani Islamic bank offering Sharia-compliant retail, SME, and corporate banking. Direct competitor to NBO's Muzn Islamic sub-brand, particularly in Islamic retail financing and Islamic corporate banking.
• Bank Muscat: Largest bank in Oman by profit (OMR 255.5M in 2025 vs. NBO's OMR 70.2M), offering retail, corporate, SME, Islamic (Meethaq), and investment banking. Directly comparable in product mix, distribution (branches + digital), and customer segments, and NBO's principal domestic competitor.
• Bank Sohar International: Second-largest Omani bank by profit (OMR 100.4M in 2025), formed via merger of HSBC Oman and Sohar International. Directly competes with NBO across retail, corporate, and Islamic banking in the same Omani market with similar full-service offerings.
• Bank Dhofar: Omani full-service commercial bank offering personal, SME, corporate, and Islamic banking (Dhofar Islamic). Closely comparable to NBO in product breadth and target market, with similar branch-based distribution and digital strategy.
• Oman Arab Bank: Subsidiary of Jordan-based Arab Bank, operating in Oman with retail, corporate, and treasury services. Directly competes with NBO in Omani retail and SME banking with a similar conventional plus Islamic product mix.
• Ahli Bank Oman: Omani commercial bank offering personal, corporate, and treasury services including an Islamic window. Smaller-scale direct competitor to NBO in the same domestic market, with overlapping customer segments.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/nationalbankofomanofficial
• Xtwitter.com/home?status=https://www.nbo.om
• LinkedInlinkedin.com/company/national-bank-of-oman

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about National Bank of Oman