Case study: from an “underperforming 80’s bank” to one of Oman’s best – the transformation of BankDhofar

Abstract

Purpose The purpose of this case study is to chronicle a remarkable business turnaround in the banking sector of Oman. Design/methodology/approach A narrative of the rapid transformation of a laggard bank into Oman's second largest bank is presented and analyzed. Findings The momentum for change was initiated and sustained through the leadership’s willingness to take big risks and use massive challenges as opportunities to kindle team spirit and solidify a new, winning attitude among the staff. Practical implications The bank focused on offering frictionless, low-risk, incremental value at scale. That’s the digital era performance requirement. For example, it introduced a highly successful no-frills credit card marketed as a fast-to-approve and easy-to-use alternative. Originality/value The case provides a rare glimpse into management practices in middle eastern banking sector.