Stanbic Bank Kenya, a member of the Pan-African Standard Bank Group was recognized as Kenya’s best private bank for 2019.
This is the fourth time the bank is winning the award having previously won for three consecutive years in 2015, 2016,2017.
The awards, organised by leading Financial Times Specialist titles, The Banker Magazine and Professional Wealth Management, were announced in an awards ceremony held in London, a statement from the bank issued in Nairobi on Friday disclosed.
The Kenyan operation was adjudged a practice leader based on 21 categories including growth strategies, portfolio management, due diligence, wealth and succession planning advisory, regulatory compliance, reputation and management excellence and leadership in digital transformation.
Stanbic Bank Kenya Chief Executive Charles Mudiwa said the award was a testament to the Standard Bank Group and the bank’s revamped commitment to wealth management and service excellence.
“This award is a testimony to our solid track record of providing bespoke solutions in wealth and financial management services thus contribute to national development. It is a demonstration of the confidence entrusted in us by our clients who continuously challenge us to deliver globally relevant solutions in tune with their long-term and short-term dreams, goals and ambitions,” he said.
“Standard Bank has delivered on that promise better than most, leveraging 130 years of experience in South Africa to build fast-growing wealth management operations in Nigeria, Kenya, Ghana, Uganda, Mauritius, London and Jersey,” said the organizers.
Top sectors that generated wealth in the country last year were financial services and investments at 17 percent of the total, technology and telecommunications at 15 percent retail, fashion and luxury goods at 11 percent, transport and logistics, manufacture of FMCG, and media at 7 percent, and basic materials (the extractive industry e.g. mining, oil and gas etc.) at 6 percent, according to the report.
JK/as/APA