Ghana Banking Awards 2017: Ecobank is Bank of the Year

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The Ghana Banking Awards held last Saturday at the plush Labadi Beach Hotel saw some banks win several awards.

Ecobank Ghana Limited won the ultimate award for the night- bank of the year.

Ecobank beat 27 other banks to win the coveted prize for the banking industry in Ghana.

In all, 19 commercial banks were honored for their distinguished services during the 2014 financial year.

Ecobank Ghana Limited won the prestigious bank of the year award, and this brings to seven the number of times Ecobank has achieved this feat at the awards.

The theme for this year’s awards was: “Identifying and rewarding excellence in the banking services proposition.”

Organizers of the awards Corporate Initiative Ghana seeks to among others, give public recognition to the best performing banks in the various areas of banking, to see an enhanced financial sector in terms of products, processes and services, and stimulate healthy competition amongst the banks that will lead to improved quality of financial products and services.

According to organizers, the evaluation process is independent of the organizers of the awards.

International accounting consulting firm, KPMG is the independent analyzer and its their evaluations are based on an objective and transparent methodology with a large sample base of consumers of banking services across Ghana.


Bank of the Year: Ecobank Ghana Limited

Customer Care

2nd runner-up: Zenith Bank

1st runner-up: First Capital Plus

Winner: The Royal Bank

Advisory Services

2nd runner-up: Bank of Africa

1st runner-up: Cal Bank

Winner: The Royal Bank

Trade Finance

2nd runner-up: BSIC

1st runner-up: Stanbic Bank

Winner: Zenith Bank

Trade Deal of the Year

2nd runner-up: Zenith Bank Ghana

1st runner-up: First Atlantic Bank

Winner: Barclays

Long-term/Mortgage Finance

2nd runner-up: Zenith Bank Ghana

1st runner-up: UniBank Ghana

Winner: The Royal Bank

Household and Retail Finance

2nd runner-up: First Atlantic Bank

1st runner-up: Prudential Bank

Winner: The Royal Bank

Enterprise Finance

2nd runner-up: Prudential Bank

1st runner-up: CAL Bank

Winner: Ecobank Ghana

Agriculture, Forestry and Fishing

2nd runner-up: Ecobank Ghana

1st runner-up: UniBank Ghana

Winner: ADB Bank

Product Innovation

2nd runner-up: Barclays Bank

1st runner-up: ADB Bank

Winner: UniBank Ghana

Competitive Pricing

2nd runner-up: Ecobank Ghana

1st runner-up: GT Bank

Winner: Bank of Baroda

Corporate Social Responsibility CSR

2nd runner-up: Ecobank Ghana

1st runner-up: UniBank Ghana

Winner: Fidelity Bank

Financial Performance

2nd runner-up: UBA

1st runner-up: GCB

Winner: Ecobank Ghana

Bank Growth

2nd runner-up: First Atlantic Bank

1st runner-up: GT Bank

Winner: The Royal Bank

Most Active E-zwich Bank

2nd runner-up: Ecobank Ghana

1st runner-up: GCB

Winner: UT Bank

Promotion of Cashless Banking

The best Bank for the promotion of Cashless Banking was introduced this year as part of efforts by the GhIPSS to promote a cashless economy, where most transactions will be done through electronic payment systems.

2nd runner-up: GCB

1st runner-up: Ecobank Ghana

Winner: Zenith Bank


Ecobank Ghana Limited started operation in February 19th 1990, as a merchant bank and became the first bank in Ghana to receive universal banking license from the Central Bank of Ghana when universal Banking was introduced in 2003. Ecobank Ghana currently has over 80 branches in Ghana and a head count of 1,463 employees as at June 2015.

Ecobank Ghana has grown consistently over the years to become the biggest and most profitable bank in Ghana. At the end of the financial year 2014, the bank had an asset size of GhS5.7 billion and Profit Before Tax of GHS 309,613,000. The bank has over the years made good returns to its shareholders with Return on average equity (ROAE) and Return on average assets (ROAA) averaging above 35% and 4.7% respectively over the past 5 years. As at the end of 20114 ROAE was 47% with ROAA of 6.1%.

Ecobank Ghana has been the most profitable affiliate in the Ecobank Group and has experienced steady growth over the past twenty five years.

Source: Paa Swanzy-Essuman|| GBC

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