The bank was shortlisted as one of the best local banks in the African Banker awards together with four continental banks for serving their respective markets.
African Banker is a business magazine published in French and English covering the entire continent. The publication organises the African Banker Awards to reward the people and financial institutions that have an impact on improving the banking industry in Africa.
Stanbic, which posted a six-fold profit after tax of US$2, 1 million, faces Banco Internacional de Moçambique (BIM), Banque Internationale Arabe de Tunisie (BIAT), First Bank of Nigeria and Tanzania’s National Bank of Commerce when the winner will be announced on October 8 in Washington DC.
“The Best Local Bank prize accords recognition to banks with primarily country-wide operations, who nevertheless provide access to crucial financial services while contributing to the development of their operating country’s banking and finance system by having instituted global best practices, reads a statement issued by the African Banker.
The African Banker Awards 2010 are sponsored by Afrexim Bank and the Nedbank-Ecobank Alliance, and supported by the African Development Bank. Partners are the US-based Corporate Council of Africa (CCA) and BusinessinAfrica Events. — Staff writer.