Companies

The past two years have seen many ups and downs in banking, but one major “up” story is that of Nordea. As CEO Frank Vang-Jensen explains, Nordea turned things around by centring its operations on its customers and following an ambitious new three-pronged business plan. Nordea’s example can help other banks get back on track to success.

Turkey is a strategically important country, acting as a bridge between Europe and Asia. ICBC Turkey, a subsidiary of China’s ICBC conglomerate, has been a crucial financial link between the two countries over the six years since its inception, helping fulfil China’s ambitious Belt and Road Initiative and driving prosperity in the region.

Kuwait’s Warba Bank was established a decade ago to help bolster the economy. By leading in digitization, it has provided a blueprint for its peers. During his interview, Shaheen H. Al-Ghanem described the bank’s varied offering of digitally delivered products and services, which have resulted in high ratings from its appreciative customers.

The pandemic has stressed the importance of digitization in banking. Zambia National Commercial Bank had established a firm digital foundation before 2020 and has continued to build on it throughout the crisis, growing its customer outreach, increasing its profits and confirming its position as Zambia’s undisputed digital financial leader.

Versus Bank of Côte d’Ivoire attributes its recent sterling achievements to five chief areas: improvement in its governance framework, organisational overhaul to improve operational efficiency, new values focused on the quality of services, agile financing strategy for the COVID-19 crisis and strengthening its risk-management framework.

MCB, renowned for its longevity and supremacy in Mauritian banking, follows its vision of Success Beyond Numbers and incorporates three pillars of excellent customer-service experience: people, processes and technology. This one-stop shop for financial services is central to the region’s economic prosperity, as CEO Alain Law Min explained.

Innovation has opened financial avenues to the unbanked in South Africa, with Nedbank having committed itself to deliver products and services that add value to those living in the township economy. From its lending products to contactless-payment methods, Nedbank has unlocked the door to financial services for those most in need of them.

Access Bank is an example of a bank determined to outdo itself. Starting off as a small, private commercial bank in 1988, it is today Nigeria’s top universal bank but intent on excelling beyond national boundaries. Chief Executive Herbert Wigwe describes how the bank is realizing its mission to be the world’s most respected African bank.

Financial inclusion has not yet been fully achieved, especially in developing countries, leading to lost prosperity not only for individuals and SMEs but economies. In Nigeria, FirstBank has tackled the problem through innovative measures, including its agent banking network Firstmonie, which succeeds in including the previously excluded.

Colombia’s digital-banking maverick, Banco Davivienda, has strengthened its position through fully exploiting its app DaviPlata to meet the challenges imposed by the pandemic. By simplifying processes such as completing retail purchases to receiving government funds, DaviPlata has succeeded in financially including much of the population.