Bank Windhoek internationally recognized as the country’s top bank
Top officials from Bank Windhoek this week travelled to London for the 2019 Bank of the Year Awards, where they scooped the title of Namibia’s Best Bank for 2019.
UK-based banking and financial intelligence publication annually judge the world’s leading financial institutions on their ability to deliver returns, gain strategic advantage and serve their markets.
According to John Everington, the Banker’s Middle East and Africa Editor, Bank Windhoek was fit for the title because they sustained a strong financial performance, despite the depressing economic situation Namibia finds itself in.
“The judges were impressed not only by the bank’s strong financial performance, but also by innovative initiatives such as its landmark Green Bond offering and its Woman in Business product range,” Everington said.
Bank Windhoek’s Managing Director, Baronice Hans said their success is the result of the dedication, resilience, teamwork and the tenacity of the Bank Windhoek and Capricorn Group teams.
“We are proud to bring home this accolade. It is confirmation of our commitment to our staff, our customers and being business partners for growth for all our stakeholders. As a truly 100% Namibian bank, we will continue to journey together with all our stakeholders to impact positively in our country and live as Connectors of Positive Change,” Hans said.
Bank Windhoek’s Chief Financial Officer, James Chapman who also attended the Awards, said despite a number of consecutive quarters of negative GDP growth and low levels of inflation in the country, they managed to normalise profit after tax grew by 10.6% year-on-year.
Chapman further said the introduction of and investment in digital and innovative customer solutions has resulted in lower cost to serve delivery channels and more efficient back office cost structures.
“This is much needed during a period of lower private credit extension, economic stagnation, non-traditional competition and digital disruption,” Chapman said.
Caption: Bank Windhoek’s Managing Director Baronice Hans and Chief Financial Officer, James Chapman, flanked by The Banker Magazine’s Brian Caplen and Michael Buerk in London on 28 November.