No fewer than 44 companies and three chief executive officers (CEOs) were recognised at the 2020 edition of the BusinessDay Banking and Other Financial Institutions (BAFI) Awards.
The companies and CEOs whose businesses cut across the broad spheres of the Nigerian financial sector, including banking, insurance and digital payments, were celebrated for their hard work and innovations in the industry.
Ebenezer Onyeagwu, group managing director/CEO of Zenith Bank Plc, won the Bank CEO of the Year award, while Agric Lender of the Year award went to Ecobank Nigeria Limited.
United Bank for Africa (UBA) Plc won the Best Bank of the Year and International Bank of the Year; FSDH Merchant Bank Limited won Research House of the Year, and LAPO smiled home with the Best Microfinance Bank of the Year award.
Fidelity Bank Plc emerged the winner of the Commercial Bank of the Year award, while FBN Holdings Plc won the Business Complexity and Risk Management of the Year and Bank Holding Company of the Year.
Integrated Financial Market Infrastructure Provider of the Year Award and Liquidity Solutions Provider/Multilateral Trading Facility of the Year awards went to securities trading firm, FMDQ Holdings Plc.
Receiving the award in Lagos, Fidelity Bank senior staff thanked BusinessDay for the award, saying it was in recognition of the bank’s contribution to the banking sector and economy in general.
“The reward for hard work is more work. This award spurs us to contribute more,” the bank’s representative said.
First Bank of Nigeria emerged the winner of the Corporate Social Responsibility (CSR) Bank of the Year award; Rand Merchant Bank Nigeria Limited won the Debt Arranger of the Year award, while FBNQuest Merchant Bank Limited emerged the winner in the Debt Deal of the Year award.
The Banking and Other Financial Institutions Awards is an initiative of BusinessDay that started in 2013 anchored on the need to reward companies and CEOs turning the corner in the financial sector.
The 2020 edition of the awards was the 8th in a row, graced by dignitaries and business leaders driven by enthusiasm to witness the unveiling of those who were able to deliver reassuring performance in what has been undoubtedly a challenging year.
Comercio Partners, one of the most diverse investment companies in Nigeria, won the Boutique Investment Bank Award Category 2020.
More than 150 companies were shortlisted in the awards with only about one quarter of them winning. Winners were adjudged by an independent research team in areas of track performances in share price appreciation, dividend payment, social impact, internal/external growth, credit ratings, service delivery, amongst others.
Frank Aigbogun, publisher of BusinessDay, in his opening remarks at the event warmly welcomed the participants, saying “the year has been defined essentially by the health pandemic, which gives rise to financial economic crises”.
“In the midst of the crisis, as we adapt to changes and evolution, we are careful at BusinessDay to see how in the midst of the challenges individuals, leaders in banking and finance are distinguishing themselves, how institutions in that sector are distinguishing themselves,” Aigbogun said.
He said BusinessDay has always had just one mandate – to report the economy as intelligently as possible, to highlight the key institutions who are playing critical roles and to acknowledge individuals who lead those institutions.
“We believe that in so doing we join them in catalysing economic growth and development in Nigeria,” he said.
Furthermore, Akinwande Ademosu, CEO, Credit Direct Limited, emerged the winner of Consumer Finance CEO of the Year award, while Credit Direct Limited won the Consumer Finance Company of the Year award.
Patrick Mgbenwelu, head of investment banking, FBNQuest Merchant Bank, won the Investment Banker of the Year award.
For the category of Insurance Company of the Year, AXA Mansard Insurance Plc swept the award.
Other award winners include VFD Group Ltd (Alternative Investment Manager of the Year & Best Investor Relations); Zedvance Ltd (Best Automated Loan Origination and Processing Company of the Year); Grooming Microfinance Bank Ltd (Best Microfinance Institution of the Year); Page Financials (Consumer Credit Brand of the Year); and Central Securities Clearing System Plc (Securities Service Company of the Year).
Awards also went to Patricia (Crypto Platform of the Year); Rand Merchant Bank Nigeria Ltd (Debt Arranger of the Year & Merchant Bank of the Year); Zedcrest Group Ltd (Diversified Financial Services of the Year); MasterCard (Financial Inclusion Brand of the Year & Payment Solutions and Technology Provider of the Year); HotForex.com (Forex Trading Platform of the Year); Cititrust Holding Plc (Investment Holding Company of the Year); AIICO Balanced Fund by AIICO Capital Ltd (Mixed Fund of the Year); and Infinity Trust Mortgage Bank Plc (Mortgage Bank of the Year).
Page International Financial Services Ltd won award for Most Innovative Investment Bank of the Year; DLM Capital Group Ltd (Most Innovative Investment Bank of the Year); AIICO Capital Ltd (Multi-Asset Manager of the Year); i-invest (Online Securities Platform of the Year); Zenith Pensions Custodian Ltd (Pension Funds Custodian of the Year); ARM Trustees Ltd (Private Trust Company and Estate Planning Provider of the Year); and First Registrars and Investor Services Ltd (Registrars of the Year).
Stockbroking Firm of the Year award was won by EFG Nigeria Hermes Ltd; Trade Finance Solutions Provider of the Year award went to Optimus MB Trade Finance Portal by Union Sytems; SLT Trustees Ltd won Trustee of the Year award, while Norrenberger Trade Master by Norrenberger Financial Group Ltd won the award for Wealth Product of the Year.
