In a first among Zimbabwean banks, CBZ was named the Zimbabwean’s best bank by Euromoney magazine, a British publication.
Blessing Mudavanhu, CBZ Holdings chief executive, said the country’s largest commercial bank by asset base was on Wednesday honored for its commitment to excellence and for pursuing sound managerial practices in its operations put in place by new management with international experience.
DBS has been named the World’s Best Bank by Euromoney magazine in a first for an Asian bank.
Euromoney editor Clive Horwood said DBS represented what a bank today should look like: “No other institution has worked so hard to embrace and lead digital disruption.”
Traditional global leaders continued to perform strongly: multiple global award winners included Citi as world’s best bank for transaction services and world’s best bank for corporates; Morgan Stanley as world’s best bank for markets and world’s best bank for financial institutions; and HSBC as world’s best bank for SMEs and world’s best bank for public-sector clients. Lazard overcame the challenge of its bigger Wall Street competitors to be named world’s best bank for advisory, while Credit Suisse was awarded world’s best bank for wealth management.
Euromoney also presented regional and country awards to banks from North America, Latin America, western Europe, central & eastern Europe and Africa (the Middle East and Asia awards are announced at separate ceremonies). The best banks in each region included: Nigeria’s Guaranty Trust Bank (Africa), Belgium’s KBC (western Europe), Santander Brasil (Latin America) and Raiffeisen Bank International (CEE). Euromoney noted that in Zimbabwe, economic growth was boosted by reform in the agricultural, manufacturing and mining sectors. However, limited access to foreign exchange has restricted development.