Pan-African banking group Ecobank Transnational Incorporated was last week named Best Bank in Africa in Euromoney’s 2011 Excellence Awards at a ceremony held in London.
Ecobank bought into Premier Finance Group last year, taking over 70% stake in the local financial institution.
Togo-incorporated Ecobank injected $10 million in fresh capital that allowed Premier Banking Corporation to meet the minimum Reserve Bank of Zimbabwe capital requirements.
Euromoney is a leading organiser of conferences for cross-border investment and capital markets for portfolio and direct investors, financial intermediaries, corporations, governments, banks and financial institutions.
In its evaluation, Euromoney highlighted Ecobank’s unparalllelled reach in Africa and its role in providing the banking infrastructure for Africa’s growing middle class and in facilitating banking transactions across the continent for companies and individuals alike.
The annual Euromoney Awards for Excellence, now in their 20th year, continue to be amongst the most respected awards in the financial services industry.
All the awards have one central theme, they recognise institutions and individuals that demonstrate leadership, innovation and momentum in the markets in which they excel.
Commenting on the group’s achievement, Ecobank’s chief executive officer Arnold Ekpe said:
“Our vision has always been to provide world-class banking services whilst also enhancing the financial integration of Africa.
“Whilst this accolade comes as a gratifying acknowledgement of the group’s significant progress to date, we are mindful of the need to remain focused on improving our services and financial performance. We are grateful for the continued support of our clients, shareholders and employees, without whom this achievement would not have been possible.”