By: Walter Wafula


Standard Chartered emerged Best Foreign Exchange Bank in Africa, the Best Private Bank in the world, and Best Cash Management Bank in the Middle East as well as Best Debt House in the United Arab Emirates, and Best Debt House, in Kuwait, while Kenyan-based Equity bagged the award for the Best Bank in Kenya.

The accolades are given to banks which set the standard of excellence for their high quality products and services across all areas of investment and commercial banking. These awards for world class banking recognise outstanding performance, top quality service, strong business momentum and innovative products.

"We are excited with this win, and we're excited by the future for private banking at Standard Chartered. The award recognises our strong performance over the past 12 months,” commented Peter Flavel, Global Head of The Standard Chartered Private Bank, after winning the Best Private Bank.

The banking group is one of the world's most established financial services groups operating in 39 countries across the globe. Standard Bank has representation in 18 countries in Africa ; including Uganda, Kenya, South Africa, Tanzania and Nigeria with more than 1 000 points of representation, in Africa alone.

Equity Bank was awarded for its efforts to encourage the unbanked to get involved with the banking sector. Close to 2,5 million Kenyans bank with Equity which is nearly half of all the country's bank accounts.

Equity registered a remarkable growth in the year, amassing a pre-tax profit that grew by 116%. In June 2008, the Nairobi Stock Exchange listed bank's market capitalisation touched at the $1,8bn mark, making it the biggest bank in Kenya.

[17 Jul 2008 15:40]

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