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Zimbabwe: Stanbic Named Bank of the Year 2020

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Leading financial services institution, Stanbic Bank has been awarded the 2020 Bank of the Year 2020 accolade for the second year running by top banking magazine – The Banker. Given the travel and social distancing constraints imposed this year by the COVID-19 pandemic, the Banker hosted the prestigious annual event virtually.

The Standard Bank Group subsidiary’s award comes barely a month after winning the Best Bank in Zimbabwe at the African Banking Awards hosted by leading financial services journal, Europe, Middle East and Africa (EMEA) Finance.

Stanbic Bank joined other Standard Bank subsidiary country banks Ghana and Tanzania in maintaining the dominance of Africa’s leading banking group in the financial services sector as they have representation in 20 countries across the continent.

The Banker “Bank of the Year” accolades are among the most coveted and widely regarded awards in the banking industry. The Banker is a member of the Financial Times Group renowned for being one of the most trusted sources of global banking information since 1926.

Last year Stanbic Bank won the award, regarded as the industry standard for assessing banks globally since 1926, together with stable countries South Africa, Lesotho, Zambia, and Angola.

Stanbic was recognised for its resilience and innovation in the face of the operational challenges brought about by the menacing COVID 19 which has caused havoc world-wide. The pandemic presented the banking sector with challenges beyond any previous experience and Stanbic Bank was commended for “providing stability and putting the needs of its clients and employees at the forefront of its operations”.

“The industry has been at the forefront of providing stability and access to vital services at this critical time. The judges this year have placed particular emphasis on which banks have led the way in meeting client needs and maintaining resilience in the face of the pandemic,” said The Banker which celebrates 95 years in January 2021.

“A rigorous and highly analytical process is made to reach each Bank of the Year decision and our reputation for independence, authority and integrity is applied to each submission. More banks apply for the Bank of the Year Awards than any other similar process and our access to data on each bank and our focus on transformation, inclusion and diversity in the industry is well known”, The Banker magazine added.

Stanbic Bank Chief Executive, Joshua Tapambgwa, said the institution had to adopt an “It can be” attitude in the face of COVID-19 and was determined not to let their clients and employees down.