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Euromoney Awards for Excellence 2020 Africa winners revealed

Equity Bank takes the region's best bank accolade in this year's Euromoney Awards for Excellence.

Equity Bank is Africa’s best bank in this year’s Euromoney Awards for Excellence.

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.

Standard Bank is best investment bank in Africa for the second year running. It is the key player in local market financing and has also invested in upgrading its trade processes from manual to digital, which has reduced turnaround times and worked to automate guarantees and letters of credit. It is also this year’s best bank for transaction services, as well as for wealth management.

“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.