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Business Reporter

PAN African commercial bank, Ecobank, has been named best retail bank in Africa 2019 at the prestigious African Banker Awards recently held in Malabo, Equatorial Guinea.

The awards event was run during the African Development Bank’s annual meeting last week. Ecobank was also nominated for African Bank of the Year award.

In a statement, Ecobank said the judges were especially impressed by its state-of-the-art products, services, functionality and constant innovations, which provide 24/7 convenience, accessibility and affordability to meet the evolving needs and expectations of customers.

Ecobank group chief executive officer Mr Ade Ayeyemi was quoted as saying: “We are honoured to be recognised as Africa’s best retail bank. 

“This is testament to the success of our digital strategy and pan-African presence as we continue to drive financial integration, inclusive banking and playing a catalytic role in the transformation of Africa”.

The bank, which has strong presence across 33 African countries that include Zimbabwe, South Africa, Angola, Zambia, Togo, Rwanda Mozambique and Ghana, was also awarded the prize for successfully driving financial inclusion. 

“We are constantly innovating to meet the needs of Africans, from our multi-functional Ecobank Mobile App, which has changed banking in Africa, to our KYC-lite Xpress account opening for the unbanked and the under-banked, and our Rapidtransfer App, for cross-border remittances to Africa at minimal or no cost,” he said.

“Our Xpress Point agencies further deliver face-to-face banking to thousands in local communities. 

“The traditional banking model is changing and Ecobank will continue to play a pivotal and pioneering role in meeting the banking needs of millions of Africans.” 

Ecobank consumer bank acting group executive Mr Nana Araba Abban said his financial institution was making banking accessible, convenient and affordable and they were continuing to broaden their innovative range of best-in-class products, services and functionality to enrich customers’ experience.

It is hoped that this would make the bank to stay a step ahead of its evolving needs and expectations. 

“To win the prestigious ‘best retail bank’ award two years running strongly indicates that our strategy and service is working for ever increasing numbers of sub-Saharan Africans across our pan-African footprint,” said Mr Abban.