GTBank, others nominated for African Banker awards

Guaranty Trust Bank Plc and three other investment firms have been nominated for this year’s edition of the African Banker awards. Specifically, GTBank Plc was nominated under four categories including bank of the year, banker of the year, best retail bank and innovation, while Vetiva and FBN Capital were nominated for the award under the deal of the year (equity) and deal of the year (debt) respectively.

According to the organisers of the award, this year’s shortlist is dominated by some of the larger banking groups from North, East, South and West Africa, noting that the winners will be revealed at a gala dinner during the African Bank’s yearly meetings that will be held in Lusaka this year at the end of May.

Explaining the rationale behind the award, the organisers said: “The awards were launched to reflect the rapid growth and modernisation of the banking and financial services sector in Africa. The 10th anniversary event comes as the banking sector is undergoing significant changes. On the one hand, large global banking groups, such as Barclays are seeking to deconsolidate as they focus on their core (non-African) markets, and the other there is talk of further consolidation across the continent from Kenya, to Ghana through Zambia and Tunisia”.

Publisher of African Banker, Omar Ben Yedder, said: “We are thrilled that the African Banker awards are celebrating their tenth anniversary this year. We introduced these awards as a way of recognising the enormous potential of the African banking and financial services sector.
Since then, many of our financial institutions have transformed and are well established to compete with the best in class.

“During this period, corporate and retail banks, along with private equity and investment firms and insurance providers have withstood the effects of the global financial crisis, emerging stronger and more fit for purpose. The category, which continues to grab my attention, is the Deals category, which reflects the transformational role that banks are playing throughout the continent. They remain a cornerstone of economic development.”

Further review of the shortlisted institutions showed that Ecobank was nominated three times, while Rand Merchant Bank from South Africa dominates the investment banking and deal entries.

Other strong performers include CRDB Bank from Tanzania, KCB from Kenya, Standard Bank group from South Africa and also Attijariwafa Bank from Morocco, which has a major presence in North and West Africa.

The organisers explained that the winners will be selected by an independent panel of judges selected for their expertise of the banking and financial landscape throughout the continent.