Standard Bank Group has been named the best bank in Africa in the Global Finance’s 28th annual awards for the World’s Best Banks.
The Ugandan and the South African divisions of Standard Bank were named the best banks in their markets. This year’s awards were heavily influenced by the ways in which banks were able to assist clients and societies through the COVID-19 pandemic.
Winners at this year’s awards were those banks that were attuned to the ever-evolving customer needs that were accelerated by the pandemic. These banks were also able to lay down strong foundations for future endevaours and success according to Global Finance.
"Banks are playing a key role in economic recovery around the world. Our Best Bank awards highlight the leaders in restoring growth and mapping a way forward. This year’s evaluations are more important and valuable than at any point in their 28-year history, given the unprecedented economic conditions wrought by the global pandemic."
- Joseph D. Giarraputo Editorial Director Global Finance
All selections were made by the editors of Global Finance after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts throughout the world. In selecting these top banks, Global Finance considered factors that ranged from the quantitative objective to the informed subjective.
Objective criteria considered included: growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry.