In addition to the two awards, Global Finance, who conduct an annual survey using inputs from industry experts and a number of key criteria which range from market share and number of deals through to innovation, also acknowledged Standard Bank operations achievements in Nigeria, South Africa and Namibia.
“The recognition received from Global Finance is particularly welcomed as it comes at a time when investment bankers around the world have been negatively impacted on by the global recession. Although Africa has not been as hard hit as other parts of the world, it is still gratifying for our efforts and achievements to be recognised by a respected journal such as Global Finance,” said Clive Tasker, chief executive, Standard Bank Africa.
In addition to being awarded "Best Investment Bank in Africa 2009" and "Best Debt Bank in Africa 2009", Nigeria was awarded "Best Investment Bank in Nigeria"; South Africa earned an accolade as the "Best Investment Bank in South Africa 2009" and Namibia an award as "Best Bank in Namibia 2009".
Chris Newson, chief executive of Stanbic IBTC Bank, Nigeria, said that the best investment bank award for Nigeria was appreciated as it took account of the growing stature of Stanbic IBTC Bank as a competitor in the demanding Nigerian involvement.
“Despite the volatility of the international oil market which Nigeria, as a major producer of crude oil could not escape, we had a good year and reinforced our position in the Nigerian market,” Newson said.
Richard Gush, chief executive, Corporate and Investment Banking Africa, said that the judging criteria applied by Global Finance was comprehensive and reflected positively on Standard Bank which had developed a reputation for innovation and partnering clients. “There is no doubt that our combination of local expertise and a global approach to service standards was instrumental in helping us win these prestigious awards. We are delighted by the achievement and are looking forward to another fruitful year.”
For Mpumzi Pupuma, managing director of Standard Bank Namibia the recognition as best bank in Namibia was confirmation of the bank's commitment to its various stakeholders. “We are continuously striving to improve our products and services for the benefit of our clients and all Namibians. We are delighted that our efforts have been recognised by the industry,” he said.
The awards are based on input from the Global Finance editors, industry analysts, corporate executives and banking consultants. Criteria for choosing the winners included growth in assets, profitability, strategic relationships, customer service, competitive pricing and innovative products.
