Stage set for 2017 BusinessDay Banking Awards
by TELIAT SULE
October 13, 2017 | 1:02 am| | | Start Conversation
All is set for the 2017 BusinessDay Banking Awards, as the awards committee will tomorrow (October 14, 2017) announce winners for the different categories, at the prestigious event which holds at the Intercontinental Hotel, Victoria Island, Lagos.
Distinguished personalities expected at the event include Olusegun Obasanjo, former president of Nigeria, who is the special guest of honour.
The group managing directors and chief executive officers of commercial, merchant, investment and microfinance banks in the country, as well as other captains of industry will be in attendance.
Debuted in 2012, this year’s edition of the awards will be the sixth in its series. The categories of awards to be won include the best managed funds in equity, money market, fixed income and the real estate investment trust scheme (REITs). Others are the mortgage bank of the year, deal of the year, best mobile banking app, best digital banking platform and the best bank in mobile banking services.
There are also the merchant bank of the year, best investment/stockbroker of the year, non-interest bank of the year, best bank in support of agriculture, microfinance bank of the year, best bank in SME financing, the most improved bank in corporate/investment, commercial and retail banking. The most coveted awards are the best CEO of the year and the bank of the year.
The BusinessDay Annual Banking Awards give banks in Nigeria the opportunity to see their performance in a particular financial year, relative to their peers. The parameters employed by the Awards Committee, include profit after tax(PAT) net interest margin(NIP) deposit and loan growth, cost to income ratio, capital adequacy ratio(CAR) and non-performing loans(NPL).
Others include penalties paid for contraventions to the regulators, share price performance, return on average asset(ROAA), return on average equity(ROAE), net asset value(NAV), volume and value of executed transactions on the Nigerian Stock Exchange (NSE), percentage of women in workforce, convenience, security, affordability and mobility, among others.
It should be noted that the desire to meet the expectation of the banking public has made banks come up with a lot of innovative products and services which have changed Nigeria’s banking landscape.
Therefore, among the nominees for this year’s awards are Access Bank, GT Bank, Union Bank and Zenith Bank whose CEOs are the nominees for the Bank CEO of the Year Award category. For the Bank of the Year, notable banks such as First Bank, GT Bank, Stanbic IBTC, Union Bank and Zenith are the nominees.
The nominees for the best managed funds categories are First City Asset Management, SCM Capital, Stanbic IBTC Asset Management, ARM, FSDH Asset Management and SFS Capital market. Nominees for the mortgage bank of the year are Abbey Mortgage Bank and Infinity Trust Mortgage Bank.
Furthermore, ALAT by Wema and PaywithCapture, from Access Bank are the nominees for the best digital solution of the year. Sterling Bank, United Bank for Africa (UBA) and Union Bank of Nigeria (UBN) are the nominees for the best bank in support of agriculture.
To arrive at these nominees, the Award Committee which comprises eminent analysts and the researchers from BusinessDay Research and Intelligence Unit (BRIU) carefully analysed the audited annual reports and investors’ presentations of banks for 2016. The committee likewise sought the views of the banking public. Red carpet opens by 6pm.
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