Stanbic Bank Zimbabwe has been named the Best Emerging Markets Bank in Zimbabwe by a US-headquartered financial magazine.
BY OUR STAFF
This is the 22nd year that the Global Finance magazine has selected top banking performers in emerging markets. The report covers best banks in Latin America, Central & Eastern Europe, Asia-Pacific, the Middle East and Africa.
Stanbic’s parent company, Standard Bank Group, was named the overall Best Emerging Bank in Africa by Global Finance magazine. Stanbic chief executive officer Joshua Tapambgwa said the award was a “further confirmation of Stanbic Bank’s commitment in Zimbabwe”.
“Our key focus will always be serving customer needs. This is shown through our investment in products and services that deliver superior service to our customers,” Tapambgwa said.
“We have also been involved in the communities that we operate through various corporate and social responsibility initiatives including health support, sport, conservation, arts among others.”
The criteria for choosing the winners included growth in assets, profitability, strategic relationships, customer service, competitive pricing, and innovative products. In addition, a poll of Global Finance’s corporate readership was conducted in order to increase the accuracy and reliability of the results.
In the six months ended June 30 2014 financial results, Stanbic posted an 18,8% growth in after-tax profit to $9,6 million due to increase in net interest income.
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In the same period in 2013, the bank recorded an after-tax profit of $8 million.
