Ecobank voted best bank in Africa

Channels Television  
Updated July 16, 2012

The Euromoney, an International Finance magazine, has named Ecobank Plc the Best Bank in Africa and Ecobank Ghana as the Best Bank in Ghana.

The Ecobank’s spokesperson, Nabi Ouedraogo disclosed this in a statement on Monday.

Clive Horwood, the Editor Euromoney, in another statement, said the bank bagged the award for its success story which had remained outstanding in the industry.

“The African continent’s original pan-African group is now the largest financial institution in Africa by geographical outreach, operating in 33 countries.

“The quality of the management, strategic outlook and growing profitability stand Ecobank in good stead.

“Moreover, it is close to holding assets of USD20 billion, thus reaching a level where economies of scale will kick in and boost efficiency and cross-selling of products and services,” Mr Horwood said.

On the Ghana group, it said: “The bank’s growth and success story has continued in 2011.

‘It is now the largest bank in the country following the merger with The Trust Bank Ghana (‘TTB’) with a network of 76 branches and a presence in eight of the country’s 10 regions.

“It is also the largest in terms of profitability, deposits and net worth, making it the worthy winner of best bank in Ghana this year.”

Arnold Ekpe, Ecobank’s Group Chief Executive Officer (CEO), hailed the awards saying:  “we are honoured to be recognised again in these prestigious international awards.

“The year 2011 was a transformational one for Ecobank, thanks to major acquisitions in Ghana and Nigeria and strong organic growth across our Middle African footprint.

“We are actively managing this growth, continuously enhancing our technology platform and risk management framework and Ecobank is now positioned to become the undisputed number one bank in Middle Africa.”