Nedbank Named Africa’s Top Retail Bank


Nedbank overcame stiff competition from Ecobank, Guaranty Trust and Standard Bank to emerge as this year’s winner of the prestigious industry award at a ceremony held in London late last month.

“‘We are humbled by this recognition and would like to express our sincere gratitude to the Retail Banking Global Awards which continue to play an important role in showcasing banking excellence in Africa and globally,” said Nedbank’s newly appointed Group Managing Executive for Retail and Business Banking Ciko Thomas.

“We are immensely proud to be recognised in this manner as these accolades demonstrate progress in our client-centred approach and vision to become the most admired bank in Africa by all stakeholders, including our clients.”

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Nedbank was also shortlisted in the RBI’s Best Use of Data Analytics category, but lost out to the Royal Bank of Canada – the only financial institution to clinch two awards – which also won the award for Best Payment Innovation.

Thomas attributes the win to the bank’s “greater focus on client-centricity” and bigger investments in technological advancements and staff development.

Wells Fargo scooped the North American Retail Bank of the year, while ING was recognised as Europe’s best retail bank, and Apple Pay was crowned Most Disruptive Innovation of the Year.

Last year Nedbank was also awarded the best retail bank in SA, and best mortgage and home loans product in Africa accolades at the Asian Banker’s second annual Middle East and Africa awards – an achievement recognised as the highest possible accolade bestowed on banking industry professionals.

Banking customer data revealed that Nedbank grew its customer base by 6% during the 2014/2015 financial year as FNB’s customer numbers declined.


Source: Destinyconnect

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