Home AWARDS INTERNATIONAL BANKER 2020 MIDDLE EAST & AFRICA AWARDS WINNERS

INTERNATIONAL BANKER 2020 MIDDLE EAST & AFRICA AWARDS WINNERS

by Prashant

The economic impact of the coronavirus has led to Kenya’s seven largest banks restructuring loans worth Sh176 billion—equivalent to 6.2 percent of the industry’s total gross loan book of Sh2.8 trillion. The pandemic has damaged Kenyan borrowers’ ability to repay their loans, particularly within the tourism sector, which has felt considerable financial pain following the suspension of international flights into and out of the country starting mid-March.

“In general, the banking sector has started to feel the adverse impact of Covid-19 as a result of slowdown in most economic sectors,” the Central Bank of Kenya (CBK) relayed to the Senate Ad Hoc Committee on the COVID-19 Situation in Kenya. The regulator also said that requests for extensions to personal loans and the restructuring of other credit arrangements are likely to ramp up in the coming months if the pandemic continues to impose lockdowns. But the central bank has made clear that it will be more flexible with respect to loan-classification requirements and the provisioning for loans that were performing on March 2 and with repayment periods that were extended or were restructured due to the pandemic.

The Banking Association South Africa (BASA) has recently detailed the financial-relief measures being provided by its banking members, noting that from the period beginning March 16 and ending April 25, South African lenders administered cash-flow relief to its customers, including payment breaks, worth R7.74 billion (US$420 million). To small and medium enterprises, similar relief has been granted worth R7.29 billion. “Of the over 1,200,000 individuals who applied for some form of relief, over 852,000 have already received assistance,” the BASA stated, adding that more than 75,000 of the 90,000 commercial, small and medium enterprises that applied have also received assistance. These numbers are expected to rise significantly going forward as more relief is approved.

Nigeria’s banks recorded strong financial results on the whole during the first quarter, with most of the period preceding the onset of the coronavirus outbreak. Seven Nigerian banks recorded a combined profit after tax of N209.16 billion ($540 million) for the quarter, according to their unaudited financial results, including Zenith Bank, Guaranty Trust Bank (GTB), Access Bank, United Bank for Africa, FBN Holdings, Fidelity Bank and Union Bank of Nigeria. Zenith Bank led the way with profit after tax of N50.53 billion for the quarter, marginally higher than the N50.23 billion recorded in first-quarter 2019. The bank’s total assets also swelled by 12 percent from the previous quarter to close at N7.13 trillion at the end of March.

GTB, meanwhile, recorded N50.07 billion in profit after tax, compared with N49.30 billion posted a year earlier. “These are very difficult and uncertain times, not just for the financial services sector and the economy as a whole, but also for hundreds of millions of people around the world whose lives and livelihoods have been put at risk by the COVID-19 pandemic,” GTB’s CEO Segun Agbaje noted. “At GTBank, we know that the impact of this pandemic may sustain for months to come, but we remain positive that by staying nimble and continuing to build on the strength of our businesses, we are appropriately positioned to cope with emerging economic realities, as reflected in our first-quarter result.”

Moody’s recently affirmed the ratings and assessments of 11 banks in Saudi Arabia. For 10 of the banks, the ratings agency changed its outlook on the long-term deposit ratings from stable to negative and maintained the negative outlook for the remaining bank. The decision to affirm the banks’ ratings demonstrates Moody’s view that the current ratings continue to reflect the resilience in their financial performances underpinned by strong capital buffers, favourable funding profiles and ample liquidity buffers, it said. The move also swiftly followed Moody’s change in outlook from stable to negative on the Saudi government’s A1 rating at the start of May.

Lebanon’s banking crisis, which has left most depositors shut out of their savings and the Lebanese currency losing more than half of its value since October, has only worsened since the onset of the coronavirus pandemic. With the country facing its worst economic situation since the 1975-90 civil war, protesters have stepped up their attacks on numerous banks, with employees now fearing for their lives. Strict capital controls and further restrictions imposed since the coronavirus outbreak have led to attacks on banks being intensified, to the point that much of the police force has been drafted to guard bank entrances across the country.

 

 >>>MIDDLE EAST AWARD WINNERS  

 

               BANKING CEO OF THE YEAR                  
Middle East
Mr. Abdulla Mubarak Al-Khalifa

Qatar National Bank (Qatar)

**********

BEST CUSTOMER SERVICE
PROVIDER OF THE YEAR

Middle East
Mashreq Bank (UAE)

**********

Best Investment Bank Of The Year KSA
Samba Capital

Best Investment Bank Of The Year Qatar
QNB Capital

Best Commercial Bank Of The Year Bahrain
Bank ABC

Best Commercial Bank Of The Year Jordan
Housing Bank

Best Commercial Bank Of The Year KSA
Riyad Bank

Best Commercial Bank Of The Year Kuwait
National Bank of Kuwait (NBK)

Best Commercial Bank Of The Year Qatar
Qatar National Bank

Best Commercial Bank Of The Year UAE
Mashreq Bank

Best Private Bank Of The Year UAE
Emirates NBD

Best Innovation In Retail Banking Bahrain
Ahli United Bank

Best Innovation In Retail Banking Egypt
Banque du Caire

Best Innovation In Retail Banking Jordan
Arab Bank

Best Innovation In Retail Banking KSA
Riyad Bank

Best Innovation In Retail Banking Kuwait
National Bank of Kuwait (NBK)

Best Innovation In Retail Banking Oman
Oman Arab Bank

Best Innovation In Retail Banking Qatar
Qatar Islamic Bank

Best Innovation In Retail Banking UAE
Mashreq Bank

Best Islamic Bank Of The Year Oman
Bank Nizwa

 

 

 >>>AFRICA AWARD WINNERS

 

               BANKING CEO OF THE YEAR                  
Africa
Mr. Mohamed El Kettani

Attijariwafa bank (Morocco)

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BEST CUSTOMER SERVICE
PROVIDER OF THE YEAR

Africa
Guaranty Trust Bank Plc (Nigeria)

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Best Banking Group Kenya
KCB Group

Best Banking Group Togo
Ecobank Transnational

Best Investment Bank Of The Year Angola
Standard Bank de Angola

Best Investment Bank Of The Year Nigeria
Chapel Hill Denham

Best Investment Bank Of The Year South Africa
Rand Merchant Bank

Best Commercial Bank Of The Year Angola
Banco de Fomento Angola

Best Commercial Bank Of The Year Benin
Societe Generale Benin

Best Commercial Bank Of The Year Botswana
First National Bank of Botswana

Best Commercial Bank Of The Year Cameroon
Afriland First Bank

Best Commercial Bank Of The Year Ghana
Fidelity Bank Ghana Limited

Best Commercial Bank Of The Year Kenya
KCB Group

Best Commercial Bank Of The Year Mali
BICIM – Groupe BNP Paribas

Best Commercial Bank Of The Year Mauritius
Mauritius Commercial Bank

Best Commercial Bank Of The Year Morocco
Attijariwafa bank

Best Commercial Bank Of The Year Nigeria
Zenith Bank PLC

Best Commercial Bank Of The Year Tanzania
NMB Bank Plc

Best Commercial Bank Of The Year Togo
Ecobank

Best Innovation In Retail Banking Algeria
Banque Nationale d’Algérie

Best Innovation In Retail Banking Angola
Banco de Fomento Angola

Best Innovation In Retail Banking Ghana
Fidelity Bank Ghana Limited

Best Innovation In Retail Banking Kenya
Equity Bank

Best Innovation In Retail Banking Mali
BICIM – Groupe BNP Paribas

Best Innovation In Retail Banking Morocco
Banque Populaire du Maroc

Best Innovation In Retail Banking Nigeria
Zenith Bank PLC

Best Innovation In Retail Banking South Africa
Nedbank

Best Innovation In Retail Banking Tanzania
NMB Bank Plc

Best Innovation In Retail Banking Togo
Ecobank

Best Innovation In Retail Banking Uganda
Centenary bank

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