The stage is set for this year’s Banking and Financial Institutions (BAFI) awards as the Award Committee has finalised plans to announce the winners for the different categories on Saturday in Lagos, Nigeria’s commercial capital.
The annual event, which usually brings together C-suite executives in the nation’s financial sector, is set to showcase the achievements of financial institutions in the last financial year.
Expected at the event are the CEOS of deposit money banks, merchant banks, mortgage banks, microfinance banks, investment houses as well as the presidents of professional associations such as the Chartered Institute of Stockbrokers(cis), Chartered Institute of Accountants of Nigeria (ICAN), Chartered Institute of Bankers of Nigeria (CIBN), among others.
The annual awards are part of Businessday’s leadership initiative and consistent commitment to promote financial services in Nigeria. The BAFI Awards have turned out to be industry benchmarks for the recognition of excellence in the Nigeria’s financial services industry.
The BAFI Awards seeks to identify and celebrate the financial institutions and their leadership that have excelled across a number of areas, including financial performance, shareholder value creation, brand value accretion, corporate governance, sustainability, employment of new technologies, compliance to standards, innovations, and contribution to the industry’s overall growth.
In this year’s edition, over 20 financial institutions were nominated for different award categories based on the different parameters adopted by the Award Committee in line with the global best practices.
The award categories include Deposit Money Bank of the Year, Mortgage Bank of the year, Merchant Bank of the year, Microfinance bank of the year, Insurance of the year, Registrars of the year, Trustees of the year and Bank CEO of the year, among others. Others include the Stockbroking Firm of the year, Deal of the year, best mobile and internet banking apps as well as the best bank in retail banking services, commercial banking services, SME banking, corporate and investment banking services, just to mention a few.
The parameters considered include loans growth, PAT growth, deposits growth, capital adequacy ratio(car), nonperforming loan ratio (NLR), liquidity ratio (LR), return on average assets(roaa), return on average equity(roae), Net Interest Margin (NIM), cost to income ratio (cir), share price growth (2018) as well as the percentage of women in workforce(management), among others. Red carpet opens by 6pm while attendance is strictly by invitation.
