Ecobank Transnational Wins Euromoney “Best Bank In Africa” Award

 

By Busayo Sotunde

 

 

For the second time in two successive years, Pan-African oriented bank, Ecobank Transnational Incorporated, have been awarded as the “Best bank in Africa” by leading international finance magazine, Euromoney.

The bank was awarded the 2012 “Best Bank in Africa” at the Euromoney Awards for Excellence held in London last week.

Organisers of the award also crowned Ecobank Ghana as the best bank in Ghana.
While expressing gratitude on the prestigious international award, Ecobank Group CEO, Arnold Ekpe, noted that the year 2011 was a transformational one for Ecobank. “Thanks to major acquisitions in Ghana and Nigeria and strong organic growth across our Middle African footprint.”

“We are actively managing this growth, continuously enhancing our technology platform and risk management framework and Ecobank is now positioned to become the undisputed number one bank in Middle Africa,” he said.

According to Euromoney Editor, Clive Horwood, the bank bagged the award for its success story which had remained outstanding in the industry.

“The African continent’s original pan-African group is now the largest financial institution in Africa by geographical outreach, operating in 33 countries.”

“The quality of the management, strategic outlook and growing profitability stand Ecobank in good stead. Moreover, it is close to holding assets of USD20 billion, thus reaching a level where economies of scale will kick in and boost efficiency and cross-selling of products and services,” Horwood said.

Speaking on the award for the bank’s Ghana group, a statement released by the magazine stated that “The bank’s growth and success story has continued in 2011. It is now the largest bank in the country following the merger with The Trust Bank Ghana (‘TTB’) with a network of 76 branches and a presence in eight of the country’s 10 regions.

“It is also the largest in terms of profitability, deposits and net worth, making it the worthy winner of best bank in Ghana this year.”

Samuel Adjei, the Managing Director of Ecobank’s Group in Ghana, assured that the bank would continue to work to ensure effective growth of the economy.

Ecobank’s spokesman, Nabi Ouedraogo, said the bank bagged both awards for its efficiency and service delivery to its numerous customers.


Posted from   VENTURES AFRICA