Standard Chartered Bank Tanzania Limited has been awarded the prestigious ‘Bank of the Year’ award at The Banker Awards 2015. This is the eighth time that the Bank is winning this award which was announced at a grand gala dinner programme held at an award ceremony in London last Wednesday evening.
With more than fifty lenders operating within its borders, Tanzania has a healthy and competitive Banking sector. Standard Chartered Bank Tanzania Limited has stayed ahead of the game by maximising its digital services to make banking a less time consuming activity for Tanzanians.
The Chief Executive Officer for the Bank in Tanzania, Sanjay Rughani said, “We are delighted to have won this prestigious award. It is a testimony of our commitment to serve our clients in this market consistently over so many years. With a reputation for high quality service, innovation and connecting Tanzania to neighbours and the world, we have a special offer to our clients. We are, therefore, proud to be able to make positive contributions in Tanzania.”
Initiatives which motivated the accolade from The Banker were Standard Chartered Bank’s Straight2Bank online service, a fully integrated banking platform that offers a full range of transactions for clients that continues to be a market’s leading service. Additionally, in March this year, the Bank launched the “Straight2Bank Wallet”, a mobile payment service for corporate clients in Tanzania. The service enables the Bank’s corporate clients to make almost instantaneous bulk payments directly from their Standard Chartered Bank accounts into their beneficiaries’ M-PESA and TigoPesa accounts. The Bank’s corporate and institutional services and support continues to enable companies operating in Tanzania to fund their businesses and hedge themselves against currency volatility.
For the award period under review, Q1 2014 to Q2 2105, Standard Chartered Bank in Tanzania ran a pan-Bank staff campaign called ‘MySelf MyBrand’ geared towards personalizing service thereby enhancing customer service.
The Bank also organized a number of client workshops aimed at creating more awareness on its various products and services as well as enhancing financial literacy and skills on running profitable businesses and understanding banking and regulatory requirements.
During the period, the Bank’s net profits grew by 12% and return on equity increased to 23%, reflecting a commitment to shareholder returns.
Now in its 16th year, The Banker Awards is one of the most prestigious events within the industry. The Banker is the world’s premier banking and finance magazine, read in over 180 countries around the world. The Banker is the key source of data and analysis for the industry. Its unique database of more than 4,000 banks, maps their financial strength and soundness via Tier I capital, profitability, and their performance versus their peers.
This is the eighth time Standard Chartered Bank Tanzania has won the `Bank of the Year’ award. The bank had earlier won this award consecutively from 2002 – 2005, and thereafter in 2007, 2010 and 2011.