Ecobank Wins 2017 Ghana Banking Award The Ghana Banking Awards held last Saturday at the plush Labadi Beach Hotel saw some banks win several awards. Ecobank Ghana Limited won the ultimate award for the night- bank of the year. Ecobank beat 27 other banks to win the coveted prize for the banking industry in Ghana. In all, 19 commercial banks were honored for their distinguished services during the 2014 financial year. Ecobank Ghana Limited won the prestigious bank of the year award, and this brings to seven the number of times Ecobank has achieved this feat at the awards. The theme for this year’s awards was: “Identifying and rewarding excellence in the banking services proposition.” Organizers of the awards Corporate Initiative Ghana seeks to among others, give public recognition to the best performing banks in the various areas of banking, to see an enhanced financial sector in terms of products, processes and services, and stimulate healthy competition amongst the banks that will lead to improved quality of financial products and services. According to organizers, the evaluation process is independent of the organizers of the awards. International accounting consulting firm, KPMG is the independent analyzer and its their evaluations are based on an objective and transparent methodology with a large sample base of consumers of banking services across Ghana. AWARD WINNERS Bank of the Year: Ecobank Ghana Limited Customer Care 2nd runner-up: Zenith Bank 1st runner-up: First Capital Plus Winner: The Royal Bank Advisory Services 2nd runner-up: Bank of Africa 1st runner-up: Cal Bank Winner: The Royal Bank Trade Finance 2nd runner-up: BSIC 1st runner-up: Stanbic Bank Winner: Zenith Bank Trade Deal of the Year 2nd runner-up: Zenith Bank Ghana 1st runner-up: First Atlantic Bank Winner: Barclays Long-term/Mortgage Finance 2nd runner-up: Zenith Bank Ghana 1st runner-up: UniBank Ghana Winner: The Royal Bank Household and Retail Finance 2nd runner-up: First Atlantic Bank 1st runner-up: Prudential Bank Winner: The Royal Bank Enterprise Finance 2nd runner-up: Prudential Bank 1st runner-up: CAL Bank Winner: Ecobank Ghana Agriculture, Forestry and Fishing 2nd runner-up: Ecobank Ghana 1st runner-up: UniBank Ghana Winner: ADB Bank Product Innovation 2nd runner-up: Barclays Bank 1st runner-up: ADB Bank Winner: UniBank Ghana Competitive Pricing 2nd runner-up: Ecobank Ghana 1st runner-up: GT Bank Winner: Bank of Baroda Corporate Social Responsibility CSR 2nd runner-up: Ecobank Ghana 1st runner-up: UniBank Ghana Winner: Fidelity Bank Financial Performance 2nd runner-up: UBA 1st runner-up: GCB Winner: Ecobank Ghana Bank Growth 2nd runner-up: First Atlantic Bank 1st runner-up: GT Bank Winner: The Royal Bank Most Active E-zwich Bank 2nd runner-up: Ecobank Ghana 1st runner-up: GCB Winner: UT Bank Promotion of Cashless Banking The best Bank for the promotion of Cashless Banking was introduced this year as part of efforts by the GhIPSS to promote a cashless economy, where most transactions will be done through electronic payment systems. 2nd runner-up: GCB 1st runner-up: Ecobank Ghana Winner: Zenith Bank ECOBANK GHANA Ecobank Ghana Limited started operation in February 19th 1990, as a merchant bank and became the first bank in Ghana to receive universal banking license from the Central Bank of Ghana when universal Banking was introduced in 2003. Ecobank Ghana currently has over 80 branches in Ghana and a head count of 1,463 employees as at June 2015. Ecobank Ghana has grown consistently over the years to become the biggest and most profitable bank in Ghana. At the end of the financial year 2014, the bank had an asset size of GhS5.7 billion and Profit Before Tax of GHS 309,613,000. The bank has over the years made good returns to its shareholders with Return on average equity (ROAE) and Return on average assets (ROAA) averaging above 35% and 4.7% respectively over the past 5 years. As at the end of 20114 ROAE was 47% with ROAA of 6.1%. Ecobank Ghana has been the most profitable affiliate in the Ecobank Group and has experienced steady growth over the past twenty five years. By: Paa Swanzy-Essuman. GBC