Investec Group’s finance director Nishlan Samujh receives the award for Bank of the year. News24 Business senior companies reporter Londiwe Buthelezi presented the award.
Investec was named News24’s inaugural Bank of the Year at a gala event in Cape Town on Thursday evening.
Investec Group finance director Nishlan Samujh said given the criteria, “representing our organisation and accepting it, is really amazing”.
Samujh noted the challenges the country is facing and the role of different institutions, including business. “One thing we ought to hold on to is hope,” he said. “The positiveness will push us forward,” he said.
The News24 Business Awards were designed to recognise companies and CEOs who are doing excellent work in building their businesses, while also going above and beyond in client service, communication and contribution to South Africa.
A unique set of criteria was designed for the awards. News24 surveyed more than 5 000 customers on their experience with their banks, asking clients to rate their satisfaction with client service and communication.
The News24 Business team of journalists also assessed product offerings, consumer platforms and CSI initiatives. In addition, transparency and media relations were evaluated.
To audit the inputs and the weightings, an actuarial consultant was employed to confirm the winning parties in each category.
Investec scored well in the News24 survey among its clients, and also achieved high marks for its strategy and the shareholder value it created over the medium term, with analysts commending the group for cleaning up its structure. It was also applauded for strong improvements in its financial metrics, including cost-to-income and return on equity.
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