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21 November 2003
South Africa's leading financial weeklies Finance Week and Finansies & Tegniek today presented the Standard Bank Group with the inaugural Financial Services Company of the Year award.
The award was presented by the publications' multi award winning journalist, Deon Basson at a breakfast function attended by the industry's most senior executives.
Basson is regarded as one of the country's most accomplished financial journalists and is considered as a foremost expert on the financial services industry.
In making the award Basson highlighted the following judging criteria:
- A large emphasis on internal value added, value for shareholders and value added for other stakeholders.
- The quality of company disclosure.
- Corporate governance.
- Sustainability.
- Contribution to society.
- The difference between performance of the listed entity and core unlisted entity.
- The professional opinions of CA Ratings
The newly appointed Deputy Managing Director of Standard Corporate and Merchant Bank (SCMB), David Munro accepted the award on behalf of the Standard Bank Group.
Munro said the he was pleased to accept the award, particularly during a period of unprecedented co-operation between South Africa's banking organisations in providing banking for the "unbanked" as well as implementing the Financial Sector Charter. He said that he was particularly proud to work with and compete in the financial services market.
The runners up for this year's award were the Absa Group and Firstrand Limited.
Finance Week/Finansies & Tegniek editor Rikus Delport said the award was an indication of the importance of high standards and the role benchmarking plays in promoting excellence.
A full report on the award as well as a review of the industry will be published in Finance Week/Finansies & Tegniek's Financial Services yearbook on Monday 24 November.
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