“In the highly competitive Zambia country category, Stanbic Bank has emerged victorious. The judging panel reached this decision based on the lender’s outstanding financial performance, as well as its industry-shaping strategic initiatives,” said judges.
Leading global banking and financial markets magazine the Financial Times has voted Stanbic as best bank in Zambia for the year 2018. The financial times owned publication dubbed The Banker Magazine cited Stanbic Bank for industry-shaping strategic initiatives and outstanding financial performance. This is the second award Zambia’s largest bank by asset size is receiving this year. Earlier this year, the bank was named the Best Bank in Zambia by EMEA Finance, having vowed to reinvent the concept of banking and make it relevant to individuals in every aspect of their lives.
Commenting on the award Stanbic Chief Executive Leina Gabaraane said, “The goal is to develop products and services that will catalyze our clients’ growth while also helping them secure their investments and future by leveraging the vast opportunities created by the bank’s services to accomplish their business and personal goals.”
Stanbic has launched its award winning Anakazi banking initiative in May 2017, tailored to promote financial inclusion of women – currently at 33% – while simultaneously supporting female entrepreneurs in the country. Anakazi focuses on facilitating women’s access in addition to free entrepreneurship training and mentorship from sector experts. Other escapades the bank has launched include Enterprise Online, a web-based platform to make it easier for business to complete transactions in line with the quest to be a digital bank.
“Zambians are a very enterprising people. You can see this from their interactions and the large number of SMEs around the country. With the right support, entrepreneurship can contribute massively to reduction in unemployment and national development. As a bank, our role is to help eliminate some of the barriers that hinder entrepreneurship growth in Zambia. This is part of the reason why we made Entrepreneurship and supporting economic growth through investment part of our business strategy, Gabaraane said in an interview.”
The Banker’s Bank of the Year Awards are presented to financial institutions from 140 countries judged to have delivered solid financial results while demonstrating prowess in developing new products, services and employing new technology in service delivery during a particular period.
Standard Bank Group (parent to Stanbic), was awarded the Best Bank in Africa accolade in the global and regional banks category.
The award also recognized that in May Stanbic became the first bank in Zambia to receive an insurance brokers license from the Pensions and Insurance Authority (PIA). The license enabled the bank to distribute a wide range of competitive insurance products from multiple underwriters in line with its wider bancassurance strategy.
Stanbic has been a key partner in driving Zambia’s economic growth through financing mining, agriculture and the SME space.
