Posted by BY EMEKA OKOROANYANWU, Washington DC on
Four Nigerian banks, Zenith, Intercontinental, Fidelity, and Stanbic IBTC emerged winners in different categories in the 2008 African Banker Awards, orgarnised by the African Banker magazine in Washington DC, the United States of America.
Four Nigerian banks, Zenith, Intercontinental, Fidelity, and Stanbic IBTC emerged winners in different categories in the 2008 African Banker Awards, orgarnised by the African Banker magazine in Washington DC, the United States of America.
Also two Nigerian banking icons, Otunba Subomi Balogun, founder and first chief executive officer of First City Monument Bank, and Mr. Tony Elumelu, Managing Director of the Untied Bank for Africa, were honoured for playing prominent roles in the African banking environment.
While Zenith Bank Plc won the coveted award for the best global bank in Africa, Intercontinental Bank won African Bank of the Year award. Fidelity Bank was adjudged the best socially responsible bank in Africa, while Stanbic IBTC won the Best Issuing House award.
Zenith Bank, said the organizers of the award, won on the platform of being "the bank with international reach, which has most positively influenced banking in Africa."
The bank, the organisers said, has contribute significantly to business growth and development in the financial industry and changed the perception of Africa in the global financial market.
For Intercontinental Bank, the organizers said it has demonstrated "a high level of performance across a wide-range of fields and has had the biggest effect on its shareholders."
This, they said, was demonstrated by strong growth in terms of its financial results, increased market penetration, and adhering to world-class practices.
Fidelity Bank's award was for "showing through company policies and projects the greatest socially-responsible practices with concrete examples of projects or initiatives within the institution, which has delivered social and economic benefits to local communities and employees, while also influencing policy approaches by government and other businesses."
Otunba Balogun was given the Lifetime Achievement Award for his pioneering effort in indigenous merchant banking in Nigeria. The organizers said Otnba Balogun has "throughout his career done the most to strengthen and promote banking in Africa."
For Mr. Tony Elumelu, the Managing Director of UBA, who won the African banker of the year award, the organizers said he showed "exceptional dexterity, leadership skills and vision to deliver strong financial results, widening the reach and penetration of banking in Africa, while also bringing world-class and innovative practices to the banking industry."
Other categories were Best Development Bank in Africa, which went to the Development Bank of Southern Africa; Deal of the Year award won by Standard Bank; Investment Bank of the Year, won by Ned Bank of South Africa; and Microfinance Bank of the Year, won by Banque de l' Habitat of Tunisia.
Others are Most Innovative Bank award, which went to Ecobank of Togo; and the Central Bank Governor of the Year, won by Ghana's Central Bank Governor.
The award, the organizers noted, was designed to recognise the reforms, rapid modernization, consolidation, integration and expansion of banking in African continent.
The objectives were to identify and reward leading banks and bankers in Africa, who are increasingly playing crucial roles in the world banking systems.
The ceremony was attended by World Bank's Vice President for African Region, Nigerian-born Mrs. Oby Ezekwesili; CBN Governor Professor Chukwuma Soludo among others.