Ecobank Transnational Incorporated ("Ecobank" or "the Group") has been named "Best Bank in Africa" by the leading international finance magazine, Euromoney, for the second consecutive year. The awards were presented last week at the 2012 Euromoney Awards for Excellence Dinner in London.
Regarded as the flagship awards for financial services globally, the Euromoney Awards for Excellence are now in their 22nd consecutive year. This year's awards process, which began in April, attracted over 600 submissions from the world's banks and brokerage houses. In deciding on the award winners, Euromoney's dedicated research team and awards panel rated all the submissions on both quantitative and qualitative factors, such as KPIs, financial ratios and innovation, over the past 12 months.
Commenting on Ecobank's achievements, Euromoney's Editor, Clive Horwood, observed:
"The African continent's original pan-African group is now the largest financial institution in Africa by geographical outreach, operating in 33 countries. The quality of the management, strategic outlook and growing profitability stand Ecobank in good stead. Moreover, it is close to holding assets of USD20 billion, thus reaching a level where economies of scale will kick in and boost efficiency and cross-selling of products and services."
Arnold Ekpe, Ecobank's Group CEO, commented:
"We are honored to be recognized again in these prestigious international awards. 2011 was a transformational year for Ecobank, thanks to major acquisitions in Ghana and Nigeria and strong organic growth across our Middle African footprint. We are actively managing this growth, continuously enhancing our technology platform and risk management framework. I believe that Ecobank is now positioned rapidly to become the undisputed number one bank in Middle Africa."
Notes to Editors
Incorporated in Lome, Togo, Ecobank Transnational Incorporated is the parent company of the leading independent pan-African banking group. It currently has a presence in 32 African countries, namely: Angola, Benin, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Congo (Brazzaville), Congo (Democratic Republic), Côte d'Ivoire, Gabon, Gambia, Ghana, Guinea, Guinea-Bissau, Kenya, Liberia, Malawi, Mali, Niger, Nigeria, Rwanda, Sao Tome and Principe, Senegal, Sierra Leone, South Africa, Tanzania, Togo, Uganda, Zambia, Zimbabwe.
The Group is also represented in France through its affiliate EBI S.A. in Paris. ETI also has representative office in Dubai, United Arab Emirates and London, UK. ETI is listed on the stock exchanges in Lagos, Accra and the West African Economic and Monetary Union (UEMOA) – the BRVM in Abidjan. The Group is owned by more than 600,000 local and international institutional and individual shareholders. The Group has 18,321 employees in 35 countries and 1,180 branches and offices.
Ecobank is a full-service bank providing wholesale, retail, investment and transaction banking services and products to governments, financial institutions, multinationals, international organizations, medium, small and micro businesses and individuals. Additional information may be found at www.ecobank.com.
Euromoney Magazine is the flagship title of London based financial communications company Euromoney Institutional Investor PLC. Founded in 1969 by Sir Patrick Sergeant, Euromoney Magazine is the voice of the international capital markets and for over 40 years
has offered unparalleled coverage of the global bond, equity and foreign exchange markets Euromoney Institutional Investor PLC is a constituent of the FTSE-250 index and is listed on the London and Luxembourg Stock Exchanges.