Ecobank Adjudged Best Bank Of The Year 2012

Ecobank winsEcobank Ghana Limited has been adjudged the Best Bank of the Year 2012 at the 12th Ghana Banking Awards held in Accra at the weekend.

The award, most coveted among twenty other categories, was given to the bank with the highest weighted scores for customer survey, corporate social responsibility and financial performance.

The feat was Ecobank’s sixth after winning the same award in 2001 and consecutively from 2004 to 2006. Ecobank also won two other awards, namely, Best Bank in Financial Performance and Best Bank in Competitive Pricing.

Other award winners included Agricultural Development Bank which received the Most Socially Responsible Bank, Best Bank in Agriculture Financing as well as the Best Bank in Medium Term Loan Financing whiles Prudential Bank Ghana Limited was honoured with Best Bank in Trade Financing, Best Bank in Consumer Lending and Best Bank in Long Term Loan Financing.

Unibank Ghana Limited received the Best Bank in Retail, Best Bank in I.T/ Electronics and Best Bank in Short Term Loan Financing whereas the First Atlantic Merchant Bank Limited won the Best Bank in Customer Care and Best Bank in Advisory Services .

The rest are Best Corporate Bank, Zenith Bank Limited; Best Growing Bank, Access Bank Ghana Limited; and Best Bank Mobile Banking, Guarantee Trust Bank Limited.

CAL Bank Limited, Guarantee Trust Bank, Zenith Bank and HFC Bank received the Trade Finance Deal of the Year for a ground-breaking $60million deal to finance energy production by an independent power supply.

There were no winners for the Best Bank in Export Financing and Best Bank Product Innovation categories. Lifetime Achievement awards were presented to Dr. Mrs. Stephanie Baeta-Ansah, former Managing Director of HFC Bank Ghana Limited, Dr Kobina Quansah, former Deputy Managing Director of Barclays Bank and Mr John Saka Addo, former Managing Director of the National Investment Bank.

The event, organised by Corporate Initiative Ghana (CIG) was on the theme, “Promoting Ethics, Integrity and Compliance in the Financial Services sector.” The Chairman of the Planning Board, Mr. Willing Vanderpuije, in a welcome address explained that the awards were to promote ethical behaviour and total compliance of sector regulations in the banking industry.

He said events recorded in the past few years, notably the hefty fines imposed on global banks, rogue dealings and bank failures, have proven that it is important banks demonstrate honesty, openness, transparency and fairness in all business activities.

“Poor actions by single individuals can result in great losses to banks and firms, both financially and through loss of reputation. Fostering an environment of trust, integrity and professionalism leads to greater confidence and ultimately strengthens a bank’s shareholder value and reputation in the market place,” he added.

Mr Vanderpuije, therefore, encouraged banks to observe and comply with applicable laws and regulations, act honestly and with integrity at all times, develop their skills and knowledge and also demonstrate their commitment to continuing professional development.
Chairman of the International Chamber of Commerce, Alhaji Dr. Asoma Banda, said financial services were fundamental to economic growth and development as well as vibrant international commerce.

“Banking, savings and investment, insurance, debt and equity financing help private citizens save money, guard against uncertainty and build credit, while enabling businesses to start up, expand, increase efficiency and compete in local and international markets,” he added.

Alhaji Banda was hopeful that the banking awards would offer necessary support to banks in developing new, efficient and cost effective services to business through fair competition. – Lucy Pomaa Arthur   

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