Saturday, 20 April 2024
- Published on 5 November 2020
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Standard Chartered Bank Ghana wins Best Retail Bank in Ghana Award for funding key pipeline projects 2020
- The bank showed financial strength driven by turning around asset and closing key deals
- The bank sustained strong retail growth through customer service initiatives
- The bank started digitalising its platform to future proof its business and replace traditional banking methods
5 November 2020, Singapore — Standard Chartered Bank Ghana received the award for Best Retail Bank in Ghana at the Middle East and Africa Regional Awards Virtual Ceremony 2020 presented by The Asian Banker.
The bank showed financial strength driven by turning around asset and closing key deals
Standard Chartered Bank Ghana took a three-pronged approach to drive financial performance. The bank expanded its balance sheet and investments, closed key pipeline deals, and turned around non-performing assets for a strong 2019. The bank posted a 30% year-on-year growth on profit and 20% increase in operating income, the highest in the last five years.
The bank sustained strong retail growth through customer service initiatives
The bank has been receptive to customers’ feedback and incorporated these into new innovations. Several initiatives such as proactive communication through SMS were rolled out to resolve customer’s difficulties on updates in fees and delays in deliverables. These initiatives were graded on net promoter score (NPS) wherein the bank had a net positive rating of 49 in 2019. The bank’s 24/7 customer service centres were mobilised as part of its digital banking platform to assist customers’ queries and other needs.
The bank started digitalising its platform to future proof its business and replace traditional banking methods
Standard Chartered Bank Ghana’s investment in digital banking platform has made mobile banking safer, faster and more intuitive for clients. Its flagship SC mobile bank disrupted the banking landscape to acquire new customers. The app provides a one-stop-shop for the client for a myriad of services. The bank has made digital banking convenient, attractive and the choice method for banking services. With the current pandemic, its efforts to improve online banking not only enhanced its resilience but was also well-received by customers.
About The Asian Banker International
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website is www.theasianbanker.com
You may visit the Excellence in Retail Financial Services page at http://awards.asianbankerforums.com/retailfinancial/
For further information, you may get in touch with:
Mr. Mobasher Zein Kazmi
Head of Research
Tel: (+61) 452 514 145
