Three of the awards  bestowed on the Bank by Global Finance (GF) yesterday  are “Best Trade Finance Bank, Best Foreign Exchange Providers and the Best Domestic Bank for 2008”. The bank is the only Nigeria bank to be honoured by Global Finance.

First Bank had earlier on Sunday won the Africa Chief Executive Officer of the Year award conferred by Annual Meetings Daily at the African Investment Forum, which was chaired by the President of African Development Bank Mr. Donald Kubaruka, and other egg-heads in the Africa banking community.

According to the organisers winners are selected based on a poll conducted by GF, the international financial publication based in New York, with input from industry analysts, corporate executives and banking consultants and technology experts in several countries. First Bank emerged the winner amongst 24 banks in Nigeria in three different categories.    

Among the criteria for choosing the winners, which ranged from objective to informed subjective, are growth in assets, profitability, strategic relationships, geographical reach, new business development, product innovative. Others include opinions of equity and credit-rating analysts, banking consultants and others in the industry, as well as corporate financial executives.

The organisers said “The winners are not the biggest banks but rather, the best banks – those with qualities that corporations should look for when choosing a bank. These are banks with effective risk-management systems, excellent service and good corporate governance,” the GF explained”.

A delegation of the Bank’s directors led by its Chairman, Dr Umaru Mutallab; Managing Director/Chief Executive, Mr. Jacobs Ajekigbe and executive director, Risks Management, Mr. Lamido Sanusi received the awards on behalf of the bank.

Also on the team was Head Corporate Planning & Group Coordination, Mr. Hafiz Bakare. The awards ceremony was attended by international economic and political facilitators.

In the award categories, the world safest banks according to the GF are BNP Paribas, Lloyds TSB, and Rabobank, while the best global banks were named as Credit Suisse and The Bank of New York Mellon. The best global central banker was won by the Central Bank of China.

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