BusinessDay to honour top Nigerian banks September 11

BusinessDay will on September 11, 2015, honour top Nigerian banks for the exceptional performances they recorded in 2014 financial year.

The occasion will be the 2015 Annual Banking Awards that will hold at the Eko Hotels and Suites, Victoria Island, Lagos. The yearly programme was introduced by BusinessDay, Nigeria’s premier financial newspaper, for the sole purpose of rewarding quality product and service delivery by Nigerian commercial banks.

Winners will emerge in 14 different award categories. The award categories are the Bank of the Year, Bank CEO of the Year, Corporate Social Responsibility (CSR) Award, Best Bank in Support of Agriculture, Best Bank in Support of the Manufacturing Sector, Best Bank in Retail Banking and the Best Bank in Corporate Banking. Others are the Most Customer Friendly Bank, Best Bank in support of SMEs, Microfinance Institution of the Year, Best Bank in IT, Bank Deal of the Year and Mortgage Bank of the Year.

The Award Committee employed a mix of quantitative and qualitative metrics to select the eventual winners. The quantitative metrics were selected from their balance sheet, revenue mix, earnings and profitability, capital and liquidity as well as their assets quality across all their business segments.

For a bank to be considered for the Bank of the Year Award, its annual report and investor’s presentation should have been hoisted on its official website as at when due.  Apart from that, it should have outperformed others on parameters such as loan growth, deposit growth, performing loans, return on average assets (ROAA), return on average equity (ROAE), net interest margin, capital adequacy ratio, growth in profit after tax (PAT) and share price appreciation.

The bank that resolved the highest number of customers’ complaints relative to total complaints received will emerge as the winner for the Most Customer Friendly Bank Award. The bank with the best performance across each business segment will win the award for that business unit. Also, the bank with the highest bank deal will win the Bank Deal of the Year Award.  The microfinance bank and mortgage bank that meet the criteria will win the Microfinance bank of the year as well as the Mortgage bank of the year.