Harare, 24 October 2023 – Stanbic Bank Zimbabwe scooped three prestigious awards – two at the Banks and Banking Survey sponsored by financial services institution, FCB and publishing company, Alpha Media Holdings – and one at the Contact Centre Association of Zimbabwe (CCAZ) last week.
The Standard Bank Group subsidiary won the Overall Best Performing Bank, Best Bank Customer Service and Winner in the Banking Sector – Service Excellence Awards as it adds more feathers to its cap of accolades it has won over the years.
The Banking Survey’s adjudicators highlighted how Stanbic Bank stood head and shoulders above the rest anchored on a strong digital footprint, cost discipline, efficient lending and brand positioning.
“Stanbic Bank managed to surpass other financial institutions in key deliverables, namely profitability, efficiency, cash flows and shareholder value creation. The bank managed a healthy interest income underpinned by an uplift in average lending book which jumped by a huge margin reflecting heightened appetite for foreign currency funding,” noted the adjudicators.
They also noted that Stanbic Bank commands a huge market share in foreign currency denominated transactions owing to its brand profiling.
Foreign shareholder support has ensured favourable credit terms thereby creating compelling customer demand and preference.
Stanbic Bank registered an inflation adjusted profit of ZWL372.9bn for H12023. Net interest income closed the period at ZWL135 billion on a net lending book of ZWL1.4 trillion.
The financial services institution was named Best Bank Customer Services on the back of having no queues, efficient services, lower interest rates, ATMs always active with cash and quick responses to queries. This is mainly due to digital platforms that allow for convenient banking. The Bank has introduced online account opening for both individuals and companies, clients can also have their queries resolved via the chatbot which can be accessed on the website and on WhatsApp.
Stanbic bank’s recognition follows on other accolades such as EMEA Finance African Banking Awards; Best Bank in Zimbabwe (2021, 2020, 2018, 2017, 2015); Best Investment Bank in Zimbabwe (2015) and Global Investor Group Sub-Custody Survey 2018 –Winner in Zimbabwe.
Acting Head of Brand and Marketing Tariro Memo said it was pleasing for the leading financial services institution to be recognized for leading the “banking pack”.
Memo said the awards demonstrated Stanbic bank’s commitment to its vision of being the leading financial services organization in, for and across Africa delivering exceptional client experiences and superior value.
“We would like to thank the adjudicators for their assessment and all those who voted for us to be accorded the awards. It is also befitting that we thank our clients for their unwavering support through the years,” said Memo.