Theme:
The Role of Banks in Scaling up SMEs
When: Friday, 10th May 2019 at 6.30pm
Where: Radisson Blu Hotel, Nairobi (Elgon Road Upper Hill)
This years project planning process involves holding discussions with industry leaders and players. As such this years’ awards categories and judging criteria will not only focus on financial stability and growth of the banks but also on how the banks have embraced corporate governance best practices, products and systems innovation, customer service as well as engaging in sustainable social projects. The Best Bank in Kenya 2019 will be the Bank that best demonstrates the above qualities.
A panel of expert judges drawn from various disciplines shall decide on the winners as per set criteria. The judge’s decisions will be informed by analysis of financial information - statutorily published by the banks, coupled with information provided in your entry documents. The panel of judges will contact banks directly for any additional information they might need to help them in the judging process.
PKF Kenya, the 2019 judging process partners, will oversee and audit the entire judging process including the selection of judges and verification of entries. Entries commence on Friday 1 st March, 2019 and close Sunday, 31 st March 2019. All entries must be submitted on this new ThinkAWD platform
Eligibility
1. Overall Best Bank in Kenya 2019 [Entries are NOT Required]
The Best Bank in Kenya 2018 will be the Bank that best demonstrates the following: Commitment to corporate governance best practices, products and systems innovation, engaging in sustainable corporate social responsibility as well as financial performance.
2. The Best Bank in Tier I [Entries are NOT Required]
Tier I are banks with total assets less in excess of Ksh. 150 Billion. All banks under this category are first assessed on the basis of financial soundness. The financial soundness will be determined by 10 different parameters shown in Appendix 2, which measure asset quality, liquidity, earnings and capital adequacy.
3. The Best Bank in Tier II [Entries are NOT Required]
Tier II are banks with total assets less than Ksh 150 Billion but more than Ksh. 50 Billion. . All banks under this category are first assessed on the basis of financial soundness. The financial soundness will be determined by 10 different parameters shown in Appendix 2, which measure asset quality, liquidity, earnings and capital adequacy.
4. The Best Bank in Tier III [Entries are NOT Required]
Tier III are banks with total assets less than Ksh 50 Billion but more than Ksh 15 Billion. All banks under this category are first assessed on the basis of financial soundness. The financial soundness will be determined by 10 different parameters shown in Appendix 2, which measure asset quality, liquidity, earnings and capital adequacy.
5. The Best Bank in Tier IV [Entries are NOT Required]
Tier IV are banks with total assets less than Ksh 15 Billion. . All banks under this category are first assessed on the basis of financial soundness. The financial soundness will be determined by 10 different parameters shown in Appendix 2, which measure asset quality, liquidity, earnings and capital adequacy.
6. The bank with the lowest charges for SME / Individuals [No Entries necessary]
A tariff survey on bank tariffs will inform the winners in this category. An index for banks based on the charges levied to their customers. The basis of the rankings will be on three scenarios modeled around the banking activities of three typical customers then assessing how each customer would have been charged for similar transactions by each bank over a twelve month period. The banks will then be ranked from the lowest in charges to the highest. There will be two sub categories for this category
7. The Most Customer-centric banks [ Entries necessary]
The category looks at the overall customer experience with their banks. A country wide Customer satisfaction survey commissioned by Think Business and conducted by Infotrak Harris, amongst other information derived from entry document will be used to determine the winners.
8. Best Bank in Mobile Banking [Entries required]
Customers are looking for convenient banking, Mobile banking offers them this opportunity and the bank that will survive the competition is the bank that offers the most effective mobile banking application.
9. Best Bank in Internet Banking [Entries required]
Internet Banking has grown tremendously over the years particularly with the middle class and corporate banking clientele. This category will award the best bank in provision of internet banking as an alternative channel to its customers particularly through a website.
10. Best Bank in Agency Banking [Entries required]
Several banks within the region have embraced agency banking as a means to spread their network, moving services closer to the people and easing congestion in their banking halls. The advent of agency banking is already lowering the cost of doing business for many banks.
11. Best Bank in Product Innovation [Entries required]
Entry is open to all products in the banking sector that entrants feel are most innovative. The judges will be looking for breakthrough products developed through cutting edge design, research and development that has redefined the market by improving usability, access and value to the customer.
12. Best Bank in Product Marketing [Entries required]
Here the judges typically assess the product that was presented and delivered most effectively to the market. The winning entry will be that product that offers greater value to the customer based on the core elements of marketing - the bank’s pricing model, distribution network, promotional strategy and value addition of the product. Through a survey, bank customers are also asked to state what bank products were effectively sold to them. The team of expert judges then pick the winners from a weighted score which is determined also by the volume of actual business attracted by the marketing process.
13. Best Bank in SME Banking [Entries required]
This is open to all banks whose focus is mainly on SME banking. First they are assessed on the basis of their corporate governance practices and financial soundness using the ten key financial ratios that are also used to determine the Best Bank in Kenya with a maximum score of 60%
14. Best Bank in Mortgage Finance [Entries required]
This category is open to banks that have a focus on mortgage finance.
15. Best Bank in Islamic Banking [Entries required]
This is open to all full-fledged Islamic banks and other commercial banks with Islamic banking windows. Under this category, banks are first assessed on the basis of corporate governance and financial soundness (of the Islamic component).
16. Best Bank in Asset Finance [Entries required]
This category is open to banks that have a focus on asset financing.
17. Best Bank in Agriculture and Livestock Financing [Entries required]
This category is open to banks that have a focus on agricultural financing
18. Best Bank in Trade financing [Entries required]
This category is open to banks that have a focus on Trade Financing and Trade Financing related products.
19. Best Bank in Retail Banking [Entries required]
This is open to the Tier I banks, because of their lead in customer numbers and deposits. Under this category, banks are first assessed on the basis of corporate governance and financial soundness.
20. Best Bank in Corporate Banking [Entries are accepted]
This is open to all banks whose focus is mainly on SME banking. First they are assessed on the basis of their corporate governance practices and financial soundness using the ten key financial ratios that are also used to determine the Best Bank in Kenya with a maximum score of 60%.
Typically, the big companies will only deal with banks that measure up to their needs and quality standards.
Additionally, banks are encouraged to send entries highlighting their service to other non-listed but large corporate detailing the following:
List of such corporate with an annual turnover of more than Ksh 10 billion.
21. Best Commercial Bank in Micro-Finance [Entries are accepted]
The judges assess the banks with the best focus in Micro finance. This category is open to banks offering micro finance products under the following definitions:
22. The most efficient bank
This shall basically be determined by the lowest cost income ratio in 2018. This is a financial ratio that looks at what it costs to generate a certain level of income. All the banks are assessed equally regardless of size.
23. Best Recovery Award [Entries are accepted]
The Judges will be looking at the most sustainable turnaround from loss making to profitability. The winner will be the bank that has sustained profitability for at least three years.
The critical need for corporates to be socially responsible by giving back to society cannot be gainsaid. The objective of this award is to recognize banks that are doing well on this front and to encourage those that have not embraced CSR to do the same. The Judges will be looking at organizations that have adopted a CSR policy and continued commitment to sustainability.
25. Best Bank in Digital banking [Entries required]
Digital technology is dramatically changing how banks interact with their customers. Social media is transforming banking relationships in very significant ways, from improving customer service to allowing users to send money to others via online platforms.
26. Overall Best Micro-Finance Bank in Kenya 2018 [Entries are accepted]
All Micro-Finance Banks are first assessed on corporate governance practices and financial soundness. Financial soundness is determined by 10 different parameters that are used in The Banking Survey rankings, which measure asset quality, liquidity, earnings and capital adequacy.
27. Best MF Bank in Product Innovation [Entries required]
Entry is open to all banking products development by the Micro-Finance banks that provide innovative solution for the informal and micro finance sector.
The judges will be looking for breakthrough products developed through cutting edge design, research and development that has redefined the market by improving usability, access and value to the customer.
28. Best MF Bank in Agriculture and Livestock Financing [Entries required]
This category is open to MF banks that have a focus on Agriculture and Livestock Financing.
29. Fastest growing Microfinance Bank
This is the MF bank that has exhibited the fastest growth consistently over the past 3 years (2014 - 2018)
30. Outstanding bank of the year [Entries Required]
This is a new category that aims at showcasing tomorrow’s pacesetters in the Kenyan banking industry. The entrant should be below 35 years and working in the banking sector. The entrant should have shown the ability to generate new ideas, drive innovation and sustainable growth. Through his or her deeds (actions) the individual should have positively changed the fortunes his/her institution to the benefit of customers, colleagues, counterparties, communities and the banking sector. Submissions may be sent by the employing institution or by a person other than the entrant
31. Corporate Banker of the year [Entries required]
The will be won by a person in the banking sector who has contributed significantly to the growth of a corporate division of a bank by building a formidable corporate clientele, significantly growing the revenue stream from the corporate banking division in 2018.
32. Chief Executive officer of the year [Entries Required]
This award shall be won by a chief executive in any of the three different tiers deemed by the judges to have made the greatest contribution in the growth of their bank’s business in 2018.
33. Lifetime achievement in Banking [Entries Required]
We invite CEOs of banks to send in nominations for long serving individuals in the banking sector, active, retired or posthumous for considerations for the lifetime achievement in banking.
The individual must have spent at least 20 years in banking and has had an outstanding and lasting contribution to the growth of the sector.
34. Special judges awards for product innovation
This award is given in recognition of innovative products developed outside the banking sector but which have a major impact on the lives of existing and potential bank customers. The judges will be looking for breakthrough products developed through cutting edge design, research and development that have redefined the market by improving usability, access and value to the customer.
If you have any feedback regarding the award categories and judging criteria, contact us at judges@thinkbusiness.co.ke. You can also visit our website www.thinkbusinessafrica.com
The Annual Celebration of the banking sector’s achievements
will be held at the Villa Rosa Kempinski, Nairobi on Friday, 10 th May 2019.
Think Business Limited, Suite J-2, Njema Court, Rhapta Road, Westlands
+254 710 368 426
rchacha@thinkbusiness.co.ke