Two Kenyan banks with operations in Uganda have won the prestigious African Banker Awards for the year 2017.
Equity Bank Kenya won the Best Retail Bank Award while KCB Bank walked away with the Best Regional Bank in East Africa.
Winners of the 2017 African Banker Awards were announced at a prestigious Gala Dinner in Ahmedabad, India this week. The Awards, held annually on the fringes of the Annual Meetings of the African Development Bank, celebrate excellence in banking and finance on the African continent.
No one country dominated the awards this year. The President of AfreximBank, Dr Benedict Oramah won Banker of the Year. His bank has grown considerably in the past year, whilst other metrics, such as income to cost ratio were very competitive.
Nigerian bank, GT Bank beat off competition from five shortlisted nominees to win the coveted ‘African Bank of the Year Award’. GT Bank posted a 37% in profits in 2016, despite difficult trading conditions in its main market Nigeria.
Citibank won the ‘Lifetime Achievement Award’. The Award was presented to an institution for the first time, as opposed to an individual. This is recognition to the outstanding contribution to African banking that Citi as an organisation has done since it has started operating in Africa and in shaping some of Africa’s leading bankers, many of who have led the growing number of African financial institutions across the continent.
The ‘African Central Bank Governor of the Year’ accolade was awarded to Mauritius’ Rameswurlall Basant Roi. Mauritius today is one of Africa’s leading financial capitals and this is largely the work of the Governor. Its financial services sector is one of the strongest in Africa and it has thriving capital markets.
Commenting on the ceremony, Omar Ben Yedder, Publisher of African Banker, commented on the breadth of winners as well as the important banks and financial institutions have in driving growth and development: “This year’s entries in the financial inclusion and innovation categories were particularly encouraging. Financial inclusion is possibly the single most important priority so that we can mobilise funds and make this capital to work effectively.”