Carting away at least two awards at the BusinessDay Annual Banking Awards 2014, for which top bankers, industry stakeholders and other dignitaries converged on Lagos at the weekend, First Bank, UBA, and Diamond topped the list of winners.
Other winners include GTB, Sterling Bank, Stanbic, Unity Bank, Mainstreet Bank, Zenith, Access, Standard Chartered, Ecobank, Fidelity, LAPO, Abbey Mortgage Bank and NEXIM.
This year’s event, which marks the second edition, proved better and bigger, with more categories added specifically to take cognisance of other financial institutions that also contribute to the growth of the economy and more sophisticated selection criteria. Last year, there were eight categories, representing half of this year’s awards.
GTB emerged as the Bank of the Year, as the bank’s capital adequacy ratio, return on asset, liquidity ratio, net profit margin, percentage growth in deposits year-on-year, loan/deposit ratio were adjudged to be the best in the industry.
Frank Aigbogun, publisher, BusinessDay, said banking in Nigeria and elsewhere faces exceptional challenges and those who are in the sector are tasked to be their best in everything they do, noting that the recipients of the awards have pushed the boundaries of innovation in the sector.
“This is the reason BusinessDay is giving these awards. These awards reflect the strength of these institutions and individuals in this increasingly challenging operating environment. They have demonstrated an uncanny ability in being the best in what they do by pushing the boundaries of possibilities,” he said.
First Bank got three awards including Bank CEO of the Year, Best Bank in Retail Banking and Best Bank in Private Banking.
Access Bank and UBA won the award for the Socially Most Responsible Bank of the Year, while Unity Bank and Mainstreet emerged winners in the Best Bank in Agric Sector category. UBA also won in the category of Best Bank in Retail Banking.
The awards are based on stringent criteria, said Philip Isakpa, executive director and editor, BusinessDay. “We knew that we needn’t fall short of what is recognised as global best practices.”
No economy can ever develop without significant contribution from the banking sector, said Muhammed Hassan Koguna, chairman, board of directors, Red Stars Express Limited.
“The economic development of any country depends on the quality and efficiency of its banking sector. The Nigerian banking sector has witnessed appreciable level of success with some stability. This stability has enabled it to contribute significantly to the economy of the country.”
Noting the huge potential of the Nigerian banking sector, Koguna said the recent rebasing of the Gross Domestic Product (GDP), which saw Nigeria become the largest economy in Africa, means more investment coming into Nigeria.
“This is arguably a welcome development and a big opportunity for banks to grow bigger and better. I urge them to maximise this opportunity, to ensure that 99 percent of Nigerians bank their money and they should be more innovative.”
The award for The Best Bank in Manufacturing went to Zenith Bank, while Standard Chartered clinched the award for Bank Deal of the Year.
Diamond Bank won the award for Best Bank in Information Technology; Ecobank got the award for Best Bank in Corporate Banking; Fidelity was recognised as Best Bank in Small and Medium Enterprises (SME) and Diamond emerged Most Customer Friendly Bank.
Most Innovative Bank Product of the Year award was won by Sterling (Kia Kia Motor) and Stanbic (IMMAN – a loan facility); Microfinance Bank of the Year went to LAPO; Mortgage Bank of the Year award was won by Abbey Mortgage Bank and Nigeria Export Import Bank (NEXIM) clinched the award of Best Export Trade Financing Bank.
“There is no sector in Nigeria that contributes to economy as much as the banking sector,” said Aigboje Aig-Imoukhuede, former CEO Access Bank, who chaired the event, adding that the level of their innovation stands out.
FEMI ASU & BALA AUGIE
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