December 14, 2006

Oceanic Bank Int’l wins 2006 London award

Nigeria was again featured in the international arena as Oceanic Bank International was officially presented the prestigious 2006 Bank of the year Award in London alongside other global awardees by the Banker Magazine, a subsidiary of the Financial Times of London.

The Banker Magazine, an internationally recognized and acclaimed organisation involved in providing coverage and analysis of banking and banks, has been a trusted source of global financial intelligence since 1926.

Presenting the Nigerian Bank of the year Award to the Managing Director/Chief Executive Officer of Oceanic Bank, Mrs Cecilia Ibru, at a colourful ceremony at the Dorchester Hotel, Editor-in-Chief, The Banker, Stephen Timewell, explained that the 2006 awards recognised excellence in 137 countries, along with eight regional citations including the Global Bank of the year.

Explaining how Oceanic Bank and other awardees emerged, the Banker explained that the criteria for the assessment derived from detailed responses by the banks to a comprehensive questionnaire. “Our global editorial team reflects not only on the latest results, growth rates and performance data over the previous period but also technology, acquisitions and strategic developments.

Zeroing on oceanic Bank Timewell noted that oceanic Bank was the fastest growing bank in Nigeria. “Oceanic Bank is not the biggest bank in Nigeria but its growth pattern has been outstanding. Oceanic Bank has performed creditably in terms of growth from the relatively smaller bank”, he stated.

The Banker, which described 2005 as a momentous year for Nigerian banks that were undergoing a consolidation process, noted oceanic Bank stood out among the 25 banks that survived.

Commenting on the award an elated oceanic Bank chief executive, attributed the naming of the bank of the award to the peculiar characteristics of oceanic Bank and the consistent and continuous progress made by the bank over the years.

“Consolidation has also come and we have leveraged on it. We shall move beyond the shores of Nigeria - we are currently looking at Ghana, Sieria Leone and the Gambia. And as we keep expanding, we shall tighten our controls. We will also continue to give our customers who have also contributed to our progress, better value, services and products that will open their mindset in creating more wealth for themselves,” she promised.

Corroborating Mrs Ibru the immediate past director-General of the Nigerian Stock Exchange ( NSE), Hayford Alile, noted that the award won by oceanic Bank flow into Nigeria.”

Leading lights from Nigeria’s Socio-Economic elite were at hand to witness and rejoice with oceanic Bank at its evening of glory in London. Apart from Oloragun Micheal Ibru, the bank’s chairman, at the ceremony were Obadiah Malaifia, Deputy Governor, Central Bank of Nigeria (CBN), Mrs Noyen Soludo, wife of the CBN Governor, Oba Obudeko, President of the NSE, Tonnie Iredia, Director General, Nigerian Television Authority; Moses Taiga, Chairman, Financial Derivatives Ltd (FDL), Bismarck Rewane, Managing Director FDL; Allison Ayida and host of others.

The latest award brings to two the number of awards received by the Oceanic Bank chief executive within the last three weeks. Mrs. Ibru beat five other internationally acclaimed women in Africa to emerge as the “African Business Woman in the year” in far away Nairobi, Kenya at the 2006 Africa investor award held at the Safari Park Hotel in Nairobi on November 11.

The top drawer field she beat emerge the 2006 African Business Woman include Mamphele Ramphele, Executive chairperson, circle capital ventures; Futhi Mtoba, Chairman, Deloitte South Africa; Nasdim Devji, Managing Director Diamond Trust Bank Kenya; and Leticia Osafo-Adodo, Managing Director Spices Ltd, Ghana.