BusinessDay will on Monday release the list of nominees for its forthcoming banking awards slated for June 7.
The awards are the first of their kind to be organised by the newspaper in its ten years history. The awards have been instituted as a credible way of rewarding banks that are supporting economic growth in Nigeria without putting at risk the financial system. They will also serve as positive incentive for banks to support the economy in a credible manner. This is why the categories and the criteria have been carefully considered to support real banking and recognise banks that have adopted best practice in banking service delivery.
There are 10 different categories for the BusinessDay banking awards. The categories include: Bank of the Year, Bank CEO of the Year, Bank Deal of the Year, Most Innovative Bank Product of the Year, Best Bank in Support of Agriculture, Best Bank in Support of SMEs and Best Bank in Support of Manufacturing. Other categories are the Most Customer Friendly Bank Award and Leadership and Achievement Award in the banking industry. There will also be special recognition awards to be given to individuals and businesses that have had a significant impact on the Nigerian banking industry.
For the Bank of the Year award, the criteria include: timeliness of release of financial results, availability of financial results on bank’s website, availability of analyst presentation on bank website, loan growth, loan/deposit ratio, growth in deposits, capital adequacy ratios, non-performing loans ratio, profit before tax and growth in total assets.
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For the Bank CEO of the Year category, the criteria include profit before tax, return on assets, return on equity, growth in total balance sheet and share price appreciation.
In the Bank Deal of the Year, the award judges will be looking at the biggest and most impactful bank finance deal in 2012 while for the Most Innovative Bank Product of the Year, the awards judges are looking at a unique product that not only eases banking transactions but also has the greatest potential for financial inclusion.
In the other categories like the Best Bank in Support of Agriculture,
Manufacturing and Small and Medium Enterprises (SMEs), BusinessDay award judges are taking in nominations from the operators in the specific industries through their associations and non-governmental organisations working in the field.
The Most Friendly Customer Bank will be picked based on respondents’ choices to an on-going survey on bank customer satisfaction by BusinessDay Research and Intelligence Unit.
The Leadership and Achievement Awards will be given to an individual or individuals who have had a revolutionary impact on the Nigerian banking industry. For this category, the winners will only be revealed at the awards night on June 7, 2013.
