Banking Awards

Encouraging innovation, prudence and stability in the banking sector by recognizing, awarding and celebrating exemplary performance in the sector.

00
days
00
hours
00
minutes
00
seconds

THEME:

MAKING THE TRANSITION TOWARDS GREEN BANKING

DATE
ACTIVITY
Mon, 12th Feb 2024

Award portal opens for entries / CSS starts / CEO interviews start

Sun, 31st March 2024

Entries close/ CSS ends

Mon, 1st April 2024

Judging Process starts / CEO interviews end

Fri, 12th April 2024

Judging Process ends

Fri. 3rd May 2024

20th Anniversary Awards Gala/ Launch of Banking Survey 2024

Tue. 4th – Wed. 5th June 2024

Inaugural Think Business Banking Summit 2024

Event

Details

The theme of our Banking Awards this year is

MAKING THE TRANSITION TOWARDS GREEN BANKING

We wish to invite you to participate in the Banking Awards 2024, our 20th anniversary celebration. The awards gala dinner will be held on Friday, 3rd May, 2024 at the Nairobi Serena Hotel ballroom, starting at 6.30 pm. The Banking Survey 2024, twentieth anniversary special edition, will also be launched at the event.

We are very proud to have achieved this milestone in our annual showcase of the banking sector’s achievements and we thank you for travelling this journey with us and supporting our cause in various ways.

We started hosting the formal awards ceremony in 2006 but we first declared the best banks in Kenya in our Banking Survey Edition of 2004 entitled “A comprehensive survey of Kenya’s banking sector,” then published in the Market Intelligence; The business and financial journal (MI ISS No. 1029-2195).

THEME: MAKING THE TRANSITION TOWARDS GREEN BANKING

As an umbrella term, Green Banking refers to banking which is sustainable economically, environmentally and socially. It aims to ensure ethical banking by protecting the environment and promoting social responsibility in the provision of banking services. By making the transition to green banking, a bank gains a competitive advantage in the market place. When adopted widely, it can spur economic growth and accrue huge economic benefits to a country and its people.

Apart from committing to financing projects that contribute to environmental sustainability, Green banks also advocate for the reduction of carbon foot print in their operations. Thus, they embrace paperless transaction, online banking and the like, all of which are driven by Information Communications and digital technology.

The theme this year has been specifically chosen to promote sustainability as we commemorate the 20th Anniversary of the Banking Awards since we launched it in 2004. As a result, we have also introduced a special anniversary award – BEST BANK IN 20 YEARS. Based on an assessment of the performance of all banks in Kenya over the past 20 years, will announce the top 5 rankings.

Our intention is to spur the banking sector into adopting long-term sustainable ethical and environmentally friendly policies and practices. As usual, the awards seek to encourage competition and drive innovation, prudence and stability in the banking sector by celebrating achievers and achievements made by the banking sector in the preceding years.

By showcasing the best performers in the industry, we aim to present the banking public with an opportunity to make informed banking decisions.

How to submit entries.

  • Click on the submit entry link below which will take you to our new awards platform ThinkAwards
  • Make sure it is clear what individual, department, company (or companies in the case of joint entries), you are entering. You can enter more than one project or program in a category.
  • Include a summary of the product/company or individual you are entering for an award.
  • Attach supporting documents: on your first page provide a simple covering statement of the story behind the project or program you have entered.
  • Each category has its own judging criteria and parameters. Ensure that you provide information for each parameter as indicated in each award category.
  • Pay attention to the maximum score awarded for each parameter.
  • Attach relevant reference/supporting details including photos, videos as well as customer testimonials where applicable and available.
  • If measurable targets were achieved, it is important to provide that evidence, i.e what the target was, if and how it was were achieved.

NB No paper or late entries will be accepted. Entrants are not required to submit any financial reports.

Award Categories.

If you have any feedback regarding the award categories and judging criteria, contact us at banking@thinkbusinessafrica.com. You can also visit our website www.bankingawards.co.ke

0.1 Best Bank in Kenya in 20 Years [Submissions encouraged]

The Best Bank in Kenya in 20 years will be determined on the basis an assessment of the performance of all banks in Kenya over the past 20 years. The financial soundness will be determined by 10 different parameters shown in Appendix 1, which measure asset quality, liquidity, earnings and capital adequacy. Based on this, we will do a tally of rankings for all bank for each year from 2004 to 2023.

From the overall score, we will pick the top 5 banks who will be assessed further using other parameter such as commitment to Environment, Social and Governance factors (EGS) best practices, products and process innovation, good customer ratings on its products and services.

0.2 Best Green Bank in Kenya [Submissions invited]

As an umbrella term, green banking refers to banking which is sustainable economically, environmentally and socially. Its aim is to ensure ethical banking by protecting the environment and promoting social responsibility in the provision of banking services.

The Best Green Bank in Kenya will be the bank that supports environmentally sustainable investing, invests in local community development initiatives. It should also have B Corp status, implying it focuses on People, Profit and Planet (PPP). It will be mission driven and care more about deploying clean energy than profit maximization. A side from using innovative financing to speed up the achievement of net-zero emissions.

1. Overall Best Bank in Kenya 2024 [Submissions encouraged]

The Best Bank in Kenya 2024 will be the Bank that best demonstrates the following: Commitment to Environment, Social and Governance factors (EGS) best practices, products and process innovation, good customer ratings on its products and services as well as solid financial performance.

From each Tier, all banks are first assessed on the basis of financial soundness. The financial soundness will be determined by 10 different parameters shown in Appendix 1, which measure asset quality, liquidity, earnings and capital adequacy.

2. The Best Bank in Tier I [Submissions encouraged]

Tier I are banks with total assets in excess of Ksh. 150 Billion. All banks under this category are first assessed on the basis of financial soundness. The financial soundness will be determined by 10 different parameters shown in Appendix 2, which measure asset quality, liquidity, earnings and capital adequacy.

Based on the financial performance top 5 banks will be shortlisted and then subjected to an assessment on the ESG factors and other Criteria whose parameters are listed below. The ESG Criteria is as shown in Appendix 2. The Best Bank for this Tier will be the one with the total highest score in Financial Criteria, ESG factors and other criteria

3. The Best Bank in Tier II [Submissions encouraged]

Tier II are banks with total assets less than Ksh 150 Billion but more than Ksh. 50 Billion. All banks under this category are first assessed on the basis of financial soundness. The financial soundness will be determined by 10 different parameters shown in Appendix 1, which measure asset quality, liquidity, earnings and capital adequacy.

4. The Best Bank in Tier III [Submissions encouraged]

Tier III are banks with total assets less than Ksh 50 Billion but more than Ksh 15 Billion. All banks under this category are first assessed on the basis of financial soundness. The financial soundness will be determined by 10 different parameters shown in Appendix 1, which measure asset quality, liquidity, earnings and capital adequacy.


5. The Best Bank in Tier IV [Submissions encouraged]

Tier IV are banks with total assets less than Ksh 15 Billion. . All banks under this category are first assessed on the basis of financial soundness. The financial soundness will be determined by 10 different parameters shown in Appendix 2, which measure asset quality, liquidity, earnings and capital adequacy.

6. The Bank with the lowest charges for SME / Individuals [No submissions]

A tariff survey on bank tariffs will inform the winners in this category. An index for banks based on the charges levied to their customers. The basis of the rankings will be on three scenarios modeled around the banking activities of three typical customers then assessing how each customer would have been charged for similar transactions by each bank over a twelve month period. The banks will then be ranked from the lowest in charges to the highest. There will be two sub categories for this category

  • The bank with the lowest charges for individual customers.
  • The bank with the lowest charges for SMEs.
7. Best Bank to Borrow From [No submissions] New

This category is open to all banks. The wining bank will need to be financially stable, as evidenced in our analysis and also score well in ESG factors. Most importantly, this award is given to the bank with the lowest overall charge for a borrower taking a loan, these include legal and setup fees

8. The Most Customer-centric bank [Submissions invited]

The category looks at the overall customer experience with their banks. A country wide Customer satisfaction survey commissioned by Think Business and conducted by Infotrak Research & Consulting, amongst other information derived from entry document will be used to determine the winners.

9. Best Bank in Mobile Banking [Submissions invited]

Customers are looking for convenient banking, Mobile banking offers them this opportunity and the bank that will survive the competition is the bank that offers the most effective mobile banking application.

10. Best Bank in Internet Banking [Submissions invited]

Internet Banking has grown tremendously over the years particularly with the middle class and corporate banking clientele. This category will award the best bank in provision of internet banking as an alternative channel to its customers particularly through a website.

11. Best Bank in Agency Banking [Submissions encouraged]

Several banks in Kenya have embraced agency banking as a means to spread their network, moving services closer to the people and easing congestion in their banking halls. The advent of agency banking is already lowering the cost of doing business for many banks. This initiative is therefore worth rewarding.

12. Best Bank in Product Innovation [Submissions invited]

Entry is open to all products in the banking sector that entrants feel are most innovative. The judges will be looking for breakthrough products developed through cutting edge design, research and development that has redefined the market by improving usability, access and value to the customer.

13. Best Bank in Product Marketing [Submissions invited]

Here the judges typically assess the product that was presented and delivered most effectively to the market. The winning entry will be that product that offers greater value to the customer based on the core elements of marketing – the bank’s pricing model, distribution network, promotional strategy and value addition of the product. Through a survey, bank customers are also asked to state what bank products were effectively sold to them. The team of expert judges then pick the winners from a weighted score which is determined also by the volume of actual business attracted by the marketing process.

14. Best Bank in SME Banking [Submissions invited]

This is open to all banks whose focus is mainly on SME banking. First, they are assessed on ESG factors and financial soundness using the ten key financial ratios that are also used to determine the Best Bank in Kenya with a maximum score of 60%

15. Best Bank in Mortgage Finance [Submissions invited]

This category is open to banks that have a focus on Mortgage Finance.

16. Best Bank in Islamic Banking [Submissions invited]

This is open to all full-fledged Islamic banks and other commercial banks with Islamic banking windows. Under this category, banks are first assessed on the basis of corporate governance and financial soundness (of the Islamic component). The financial soundness will be determined by 10 different parameters that are used in The Banking Survey rankings, which measure asset quality, liquidity, earnings and capital adequacy.

17. Best Bank in Asset Finance [Submissions invited]

This category is open to banks that have a focus on Asset Financing.

18. Best Bank in Agriculture and Livestock Financing [Submissions invited]

This category is open to banks that have a focus on Agriculture Financing.

19. Best Bank in Trade financing [Entries required]

This category is open to banks that have a focus on Trade Financing and Trade Financing related products.

20. Best Bank in Retail Banking [Entries required]

This is open to the Tier I banks, because of their lead in customer numbers and deposits. Under this category, banks are first assessed on the basis of corporate governance and financial soundness. The financial soundness will be determined by 10 different parameters that are used in The Banking Survey rankings, which measure asset quality, liquidity, earnings and capital adequacy.

21. Best Bank in Corporate Banking [Entries are accepted]

Typically, the big companies will only deal with banks that are successful, stable and measure up to their needs and quality standards.

The banks will be assessed financial first using our financial analysis module that looks at 10 different performance measures. They will also be subjected to a ESG evaluation.

22. Best Commercial Bank in Micro-Finance [Entries are accepted]

The judges assess the banks with the best focus in Micro finance. This category is open to banks offering micro finance products under the following definitions:

  1. Small loans to the mass market
  2. Informal appraisal of borrowers and investments
  3. Collateral substitutes, such as group guarantees or compulsory savings.
  4. Largely targets the lower section of the income spectrum.

It is important that banks offering services to the micro segment are first and foremost, financially stable to mitigate against the risk of these customers losing their money. Hence the need to subject them to a financial stability assessment. They should also buy into ESG factors.

23. The Most Efficient Bank [No submissions]

This shall basically be determined by the lowest cost income ratio in 2023. This is a financial ratio that looks at what it costs to generate a certain level of income. All the banks are assessed equally regardless of size.

24. Best Recovery Award [Entries are accepted]

The Judges will be looking at the most sustainable turnaround from loss making to profitability. The winner will be the bank that has sustained profitability for at least three years.

25. Best bank in sustainable Corporate Social Responsibility [Entries required]

The critical need for corporates to be socially responsible by giving back to society cannot be gainsaid. The objective of this award is to recognize banks that are doing well on this front and to encourage those that have not embraced CSR to do the same. The Judges will be looking at organizations that have adopted a CSR policy and continued commitment to sustainability.

26. Best Bank in Digital banking [Entries required]

Digital technology is dramatically changing how banks interact with their customers. Social media is transforming banking relationships in very significant ways, from improving customer service to allowing users to send money to others via online platforms.

27. Overall Best Micro-Finance Bank in Kenya 2018 [Entries are accepted]

All Micro-Finance Banks are first assessed on corporate governance practices and financial soundness. Financial soundness is determined by 10 different parameters that are used in The Banking Survey rankings, which measure asset quality, liquidity, earnings and capital adequacy.

28. The Most Efficient MFB [No submissions] New

This shall basically be determined by the lowest cost income ratio in 2023. This is a financial ratio that looks at what it costs to generate a certain level of income. All the banks are assessed equally regardless of size.

29. Best MF Bank in Digital banking [Submissions invited] New

Digital technology is dramatically changing how banks interact with their customers. Social media is transforming banking relationships in very significant ways, from improving customer service to allowing users to send money to others via online platforms.

30. Best MF Bank in Product Innovation [Entries required]

Entry is open to all banking products development by the Micro-Finance banks that provide innovative solution for the informal and micro finance sector. The judges will be looking for breakthrough products developed through cutting edge design, research and development that has redefined the market by improving usability, access and value to the customer.

31. Best MF Bank in Agriculture and Livestock Financing [Entries required]

This category is open to MF banks that have a focus on Agriculture and Livestock Financing

32. Fastest growing Microfinance Bank

This is the MF bank that has exhibited the fastest growth consistently over the past 3 years (2021 – 2023).

33. Outstanding young banker of the year [Entries Required]

This is a new category that aims at showcasing tomorrow’s pacesetters in the Kenyan banking industry. The entrant should be below 35 years and working in the banking sector. The entrant should have shown the ability to generate new ideas, drive innovation and sustainable growth. Through his or her deeds (actions) the individual should have positively changed the fortunes his/her institution to the benefit of customers, colleagues, counterparties, communities and the banking sector. Submissions may be sent by the employing institution or by a person other than the entrant.

34. Corporate Banker of the year [Entries required]

This will be won by a person in the banking sector who has contributed significantly to the growth of a corporate division of a bank by building a formidable corporate clientele, significantly growing the revenue stream from the corporate banking division in 2023.

35. Chief Executive officer of the year [Entries Required]

We invite CEOs of banks to send in nominations for long serving individuals in the banking sector, active, retired or posthumous for considerations for the lifetime achievement in banking.

The individual must have spent at least 20 years in banking and has had an outstanding and made a lasting contribution to the growth of the sector.

36. Lifetime achievement in Banking [Entries Required]

We invite CEOs of banks to send in nominations for long serving individuals in the banking sector, active, retired or posthumous for considerations for the lifetime achievement in banking.

The individual must have spent at least 20 years in banking and has had an outstanding and made a lasting contribution to the growth of the sector.

37. Special judges awards for product innovation

This award is given in recognition of innovative products developed outside the banking sector but which have a major impact on the lives of existing and potential bank customers. The judges will be looking for breakthrough products developed through cutting edge design, research and development that have redefined the market by improving usability, access and value to the customer.

38. Best Bank in Kenya in 20 Years [Submissions encouraged]

The Best Bank in Kenya in 20 Years will be the Bank that has best committed to sustainability economically, environmentally and socially. It will be the bank that promotes ethical banking by protecting the environment and promoting social responsibility and good governance in the provision of banking services. It will a bank that is committed to financing projects that contribute to environmental sustainability but also advocate for the reduction of carbon footprint in its operations, embracing paperless transaction, online banking, digital banking among other efficient and environmentally safe technologies.

Commitment to Environment, Social and Governance factors (EGS) best practices, products and process innovation, good customer ratings on its products and services as well as solid financial performance.

Dinner Reservation

For further information call Carolyne Tel: +254 706 035 510 +254 704 096 289 / +254 0722 335 421 or e-mail her on carolynebhoke@thinkbusinessafrica.com

Post Award Ceremonies

Event Location

The 20th annual edition of the Banking Awards 2024 is slated for Friday, 3rd May, 2024 at the Nairobi Serena Hotel, starting at 6.30 pm.

Contact Info


Think Business Limited,

4th Flr. Delta Corner Annex, Wayiaki Way,

Westlands, Nairobi

P.O. Box 12800 – 00100 GPO, Nairobi

Website: www.thinkbusinessafrica.com

+254 704 096 289

+254 0722 335 421

Useful Links

Banking

Insurance

Investments

Sacco

Wealth

About

About us

Gallery

News

Archives

Index

Contact

+1 234 567 890

Contact us

Conferences

Events

Publications


copyright © 2024 | Think Business Africa