BK tops in customer satisfaction at 2014 EAC banking awards

Bank of Kigali (BK) scooped the best bank in customer satisfaction in Rwanda at this year’s East Africa Annual Banking Awards. Other winners in the same category are Tanzania’s FBME Bank Diamond Trust Bank of Kenya and Uganda’s Centenary Bank. Equity Bank was ranked the best bank in East African region at the awards announced on Wednesday in Nairobi, Kenya. The awards attracted participation from commercial banks and microfinance banks in the East African Community (EAC) member states. Research firm Infotrak conducted the survey in Kenya, Uganda, Tanzania and Rwanda to come up with findings that were used in the judging process. The firm’s chief executive officer, Angela Ambitho, said the survey looked at areas that we felt were critical to customer satisfaction, including loyalty, which was gauged through customer recommendation. Other issues that were looked at were trust and corporate image of the bank, technology use, customer interaction with the bank, bank personnel and service delivery, she added. In Kenya, 39 banks were sampled, with a sample size of 1,515 customers; 26 banks were sampled in Uganda with a sample size of 920 customers; and 38 banks were evaluated in Tanzania with a sample size of 1,365 customers. In Rwanda, 13 banks with a sample size of 450 customers appraised. The awards are organised annually by Think Business. Meanwhile, no local bank or banker has made it to this year’s African Banker Awards shortlist, according to a statement from the organisers, African Banker magazine and BusinessinAfrica Events. The shortlist that was released mid-this week reveals that of the 36 banks and financial institutions contesting for top prizes in the eighth edition of the competition, none is from Rwanda or Kenya. However, a couple of banks and bankers from neighbouring Uganda, the DR Congo and Tanzania made the shortlist, which is dominated by Nigerian and South African banks and individuals. Those shortlisted for African Bank of the Year accolade are Attijariwafa Bank and BMCE both from Morocco; GTBank of Nigeria; and South Africa’s Nedbank and Standard Bank; African Banker of the Year contenders are Bisi Onasanya, the group CEO of First Bank of Nigeria; Bola Adesola, CEO of South Africa’s Standard Chartered Bank; Dr. Charles Kimei of CRDB Bank in Tanzania; Joao Figueiredo from Mozambique’s Banco Unico; Pedro Pinto Coelho, the CEO of Standard Bank in Angola; Segun Agbaje, CEO of Nigeria’s, Guaranty Trust Bank and Vivienne Yeda, the director general of East African Development Bank in Uganda. There are also categories for the socially responsible bank of the year, deal of the year (equity), deal of the year (debt), fund of the year, investment bank of the year, best retail bank in Africa, financial inclusion and best retail bank in Africa. The winners will be announced on May 21 in Kigali, Rwanda during the African Development Bank Annual Meetings, the organisers said. The AfDB will hold its Annual Meetings in Kigali, Rwanda from May 19-23. The African Banker Awards are aimed at recognising and celebrating individuals and financial institutions contributing to the rapid modernisation of Africa’s banking sector and to changed perceptions of the continent’s domestic and international markets. Commenting on the industry Omar Ben Yedder, the publisher of African Banker magazine, said the banking and financial services industry in Africa continues to develop rapidly, even if we’d like it to work harder and see it participate more actively in the real economy. “The sector is one of the fastest-growing industries and we are pleased to see new entrants coming into the space, something we hope will help to elevate the bar in terms of products and services. This can only work to better serve the interests of the African consumer.” An independent panel of judges, known and respected for their expertise on the African banking and finance industry, will decide the final winners of shortlisted categories. The awards are partly sponsored by East African Development Bank, Bank of Kigali, the Islamic Corporation for the Development of the Private Sector, Development Bank of Rwanda, RSwitch, Rwanda Bankers’ Association and Rwanda Development Board.

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BK tops in customer satisfaction at 2014 EAC banking awards