It has managed a rare feat for banks in the continent, to become a domestic champion and substantial regional player in East Africa. It is also named as Africa’s best digital bank.
“Under the stewardship of chief executive James Mwangi, the bank has come a long way from a traditional bricks-and-mortar institution. After two years of extensive investment in digital technology, it now better reflects the changing needs and behaviour of its customer base,” the magazine said.
“At the end of 2019, the group reached its target of matching its South African investment banking revenues with its ex-South Africa business, something that Bill Blackie, group head of investment banking says was unimaginable four or five years ago,” Euromoney observed.
Citi is Africa’s best bank for advisory. The bank advised on four M&A transactions excluding South Africa and north Africa over the review period with a total deal value of $1.2 billion, and is the best placed international bank to advise large African clients on their options as the continent enters a protracted period of low growth.
Standard Chartered is the best bank for financing, ranking in the top three houses across the Dealogic equity and debt capital markets and loan league tables for the continent. The bank’s Ghana operation has been awarded best bank transformation this year.