Stanbic named Bank of the Year

Stanbic Bank Zambia has won The Banker magazine’s Bank of the Year Zambia award for 2017.

This award, by the world’s longest-running international banking magazine, is testament to the strong management, sound business model and strategy of the bank, which is part of the Standard Bank Group.

Stanbic will receive the accolade at the annual Banker Awards Ceremony in London this month (November). The event is attended by more than 350 senior managers from some 120 banks, which is a reflection of the importance banks place on winning the awards.

The Banker selects only one winner in each country, which adds to the importance of the awards, which are among the most coveted in the sector and offer winners significant exposure and branding opportunities.

Luke McGreevy, The Banker’s publisher for Middle East and Africa, said of the Standbic achievement: “The Banker’s judging panel felt that your bank made the most progress over the 12 months; something which is not only in terms of the bank’s strong financials, but also in the wide range of initiatives which the bank undertook during this period.”

The magazine also announced The Standard Bank Group’s operations in South Africa and Angola as winners of the top award in their respective countries.

Stanbic chief executive Charles Mudiwa said the award reflected the strong management, sound business model and strategy the bank had adopted.

“The award speaks loudly to how we, as a bank, have correctly positioned ourselves not only to deliver superior banking services to our clients, but also as a partner in key growth-driving sectors, namely mining, agriculture and energy, as well as supporting business activities.”

Mudiwa added that the bank had shown this commitment by being a top financier of key sectors in recent years.

“Our thinking is that the extent of bank integration into the economic system is such that, when the economy slumps, Stanbic correlates in a similar fashion and vice versa in years of economic boom. As Stanbic, we’ve been here in Zambia for over 60 years and have been part of the growth of this country we call home.”

Mudiwa said Stanbic’s support to the agricultural sector had helped small and medium-sized enterprises (SMEs) to flourish. Stanbic was serving about 10,000 SMEs to which the bank had extended K1.4bn in loans and advances.