BMI Bank (BMI), the Bahrain based associate of BankMuscat the largest financial services provider in Oman, today released the following press statement in continuation to a press release issued by Moody’s on rating actions for BMI Bank on the 1st of March 2010.

“Whilst disappointed with the revised rating, we maintain an investment grade rating with a stable outlook. We will continue to reduce our sector concentrations and improve asset quality by building our retail, SME and commercial banking businesses. Our top class Capital Adequacy continues to give comfort and security to our customers as acknowledged by our rating agencies.”