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AfricaMoney | October 18, 2017

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Global Finance Magazine awards Bramer Bank as Best Bank in Mauritius

Global Finance Magazine awards Bramer Bank as Best Bank in Mauritius

Ashraf Esmael, Chief Executive Officer of Bramer Bank, indicated that the results have been exceptional, with a growth on an average of 40% per annum in some years, which is four times as fast as the banking industry in general. (Image: Global Finance Magazine)

Mauritius’ fastest growing bank, Bramer Bank, has been honoured yet again by receiving the title of the Best Bank in Mauritius by Global Finance Magazine after its recent recognition as Best Emerging Bank in Mauritius for 2014 by Capital Finance International Awards (UK).

The pioneering voice of modern finance, Global Finance, unveiled its annual list of the best banks across the world, region and country.

During the awards ceremony held in Washington, United States, Joseph Giarraputo – Publisher and Editorial Director at Global Finance Magazine – presented the trophy to Ali Mamode, Assistant Vice-President Marketing of Bramer Bank.

Moreover, Bramer Bank’s excellence has been recognised worldwide by three other prestigious international awards in the recent past, winning it the Global Brand Excellence Award 2013 by World Brand Congress (India); the Fastest Growing Bank Mauritius 2013 by International Finance Magazine (UK); and finally, the Best Emerging Bank Mauritius 2014 by Capital Finance International Awards (UK).

Ashraf Esmael, Chief Executive Officer of Bramer Bank, expressed his satisfaction at being recognised for the colossal work undertaken by the bank and its associates over the years.

He indicated that the bank’s objectives are to innovate at the operational and technological levels, as well as sharpen its services edge. The results have been exceptional, with a growth on an average of 40% per annum in some years, which is four times as fast as the banking industry in general.

As for Joseph Giarraputo, he noted that some banks have distinguished themselves by their growth in spite of the slowdown in the world economic growth generally and volatility across global markets.

He noted that Global Finance Magazine wanted to credit these banks, which are not necessarily the biggest and the oldest, but are the most competent in effectively and intelligently responding to the expectations of the markets in which they operate.

According to the magazine, the global banking system has partially recovered from the financial crisis, but large segments remain dysfunctional, for instance the collapse of Banco Espírito Santo in Portugal was a shocking reminder that the system is fragile and there is little room for complacency.

Nevertheless, there are examples of banks in all parts of the world that have excelled in meeting the needs of their customers over the past year, added Global Finance Magazine.

In its 21st annual survey, Global Finance has selected the best banks in 150 countries and eight regions of the world as well as identified the best global banks in 14 service categories.

After extensive consultations with bankers, corporate financial executives and analysts worldwide, the winners were assessed on their overall performance over the past year, including subjective criteria such as goodwill and management excellence.

Concerning the global winners, Citibank had the biggest haul of awards, namely Best Corporate Bank, Best Emerging Markets Bank, Best Cash Management Bank; Best Trade Finance Bank; and Best Sub custody Bank.

The titles of Best Bank in Africa and Best Frontier Markets Bank were granted to South Africa’s Standard Bank.

Besides, Santander is recognised as the Best Consumer Bank; RBC Wealth Management as Best Private Bank; while the Best Islamic Financial Institution is Kuwait Finance House and Best Asset Management Bank is State Street Global Advisors.

In addition, BNY Mello obtained the title of Best Custody Bank; Bank of America Merrill Lynch is the Best Investment Bank; Deutsche Bank is Best Foreign Exchange Bank; and Standard Chartered emerged as Best Supply-Chain Finance Bank.

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