London-based Global Banking and Finance Review Magazine has named Ecobank Nigeria as the Best Corporate Bank in Nigeria on their finance performance review platform.
Noel O’Leary, production coordinator of the platform said that the “awards reflect the innovation, achievement, strategy, progressive and inspirational changes taking place within the global financial community.” Leary also said that Ecobank stands out as a global bank that has been at the forefront of international trade financing.
Folake Aboderin, executive director of corporate banking at Ecobank Nigeria spoke about the series of international awards that the bank have won in recent times which prove that the financial institution is adding to the economic development of the continent.
Aboderin said that Ecobank has become a major player in the economy. “We play in all the segments of the economy – oil and gas, telecommunications; we facilitate and promote international trade across the various regions, financing importers and exporter. As a bank, we are glad that our efforts in this direction are being recognized globally,” Aboderin said.
Ecobank, or Ecobank Transnational Inc., is a regional commercial bank operating in 36 African countries. Bloomberg reported recently that Ecobank Transnational’s net income has doubled to more than $394.8 million from $147.8m in 2013. CEO Albert Essien said that the “focus on driving efficiencies in our businesses paid off, with operating expenses up 6 percent.”
When it comes to corporate innovation, debates on technology and sponsoring commercial activities have a limited value threshold if it is not coupled with innovative actions, Omeed Mehrinfar, Plug & Play, told an audience of treasurers.
Using data for predictive analytics is the future of banking success, argued Jean-Laurent Bonnafé, CEO of BNP Paribas, in his session on how the bank is reinventing its approach to innovate with and for corporates.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
On the third day of the Singapore Fintech Festival conference, there was a focus on specific applications of fintech innovation. One was trade finance, which is clearly is ripe for a revolution.