A leading British finance media house has named local banks, Stanbic, Barclays and First National Bank, as winners of three of its 2012 bank performance awards.
Recently, World Finance, a global publisher of several financial titles, announced First National Bank Botswana (FNBB) as the country's best commercial bank, Stanbic Bank Botswana as the best investment bank and Barclays as the best banking group.The 2012 Banking Awards, the third held by World Finance, mark the first time Botswana has been included in the global voting and expert panel that decides winners of the awards.
The three local award winners are part of the 'Big Four', the country's four largest commercial banks by customer volumes, balance sheets and turnover.According to World Finance, banks were judged on a variety of indicators including new and innovative services, smart partnerships, key financial ratios, pre-tax profits, real growth and steps taken to prepare for stricter banking regulations."World Finance's Banking Awards celebrate those who have capitalised rather than caved at times of high stakes," says a World Finance statement.
"With strong resolve, our winners have not merely looked to protect their interests but to secure a solid future for their institutions, investors and, importantly, their customers."The media house said with the global credit market quivering from debt
Stanbic, the best investment bank winner for 2012, recently re-launched its investment arm, rebranding it as Stanlib Investment Management Services Botswana. The investment arm has grown over the years from 500 retail clients, to more than 5,000, while also taking up the lion's share of the unit trust market.Barclays and FNBB, meanwhile, boast the strongest asset positions in the local banking sector, with the latter's loan book growing by 24 percent to P8.06 billion in the six months to December 31, 2011.Barclays has the second biggest loan book, growing it by nine percent to P6.09 billion in the full year to December 31, 2011.