PSG had to adapt methodology for Banking Review but Bank Windhoek still came out best
For its annual Banking Review, financial services and investment firm, PSG had to adapt its ranking methodology due to distortions created by the lockdown, but despite these adjustments, Bank Windhoek still emerged the best bank in Namibia.
The bank has received this accolade for the second year in a row.
“For our rankings section, we deemed it important that the Namibian banks must measured at the same point in time. We have therefore used interim numbers for SBNH and NED to make sure that measures are comparable,” PSG stated when the Banking Review was released on 16 December 2020. All banks have now been ranked based on their financials as at 30 June 2020.
“In our ranking of the Namibian banks, Bank Windhoek Limited has taken the top spot again. They performed best in all categories except for capital adequacy,” stated PSG.
Bank Windhoek’s Managing Director, Baronice Hans, said that despite the challenging economic environment exacerbated by the COVID-19 pandemic, she is grateful for the trust and confidence shown by customers and staff. “As a relationship-driven bank, our success is the result of their dedication and resilience,” she said. Hans added that Bank Windhoek has a unique and proud heritage based on its founders’ entrepreneurial foresight and pioneering spirit embedded in its culture. “In as much as we are building a strong and high-performance driven business, we focus on being a responsible corporate citizen by giving back to the communities in which we operate. We also ensure that we embed environmental sustainability as evident from our issuance of the first Southern Africa Green Bond in 2018.”
Other accolades receive by Bank Windhoek in the past five years, include the Bank of the Year by the Financial Times publication The Banker, and the Best Corporate Bank in Namibia by the Global Banking and Finance Review.