Capital Finance International (CFI), a London-based print journal reporting on business, economics and finance, has ranked Heritage Bank Plc, as the ‘Best SME Bank Nigeria 2018’ in Nigeria.
This is even as the Nigeria Agriculture Awards (NAA) rated the bank as ‘Agriculture Bank of the Year 2018’ while also bagging the Best CIBN Chapter of the Year 2018 award based on its members’ mobilisation and participation as well as sponsorship of the Institute programmes.
A statement issued on the multiple awards by the bank’s Divisional Head, Corporate Communications, Fela Ibidapo, indicated that Heritage Bank won the prestigious awards in recognition of its leadership position in delivering development and growth of the Agricultural sector and Small and Medium Enterprises.
According to him, the CFI award is based on recommendations and voting from CFI Partners such as the World Bank, IMF, WTO, UN and IFC while the NAA is an annual event powered by AgroNigeria aimed at recognising and rewarding men, women, businesses and institutions who have contributed to Nigeria’s re-emergence as a veritable force in agriculture.
Ibidapo also confirmed that Heritage Bank won also the award ‘For Sustainable Transaction of The Year in Agriculture’ in the inaugural Nigeria Sustainable Banking Award convened by the Central Bank of Nigeria.
Commenting on the awards, the bank’s Managing Director, Ifie Sekibo, was quoted to have said, that the board, management and staff were “highly honoured to be awarded by renowned organisations and regulators as one of the most supportive financial institutions to the agriculture and SME industries, which are key sectors of the economy and this validates the hard work and success story of the bank to create, preserve and transfer wealth across generations.”
According to him, the bank has been on the driving seat of the agricultural and SME financing revolution and will continue to compliment the efforts of the CBN by making funds available to both individuals and corporate organisations in their efforts to increase outputs in both sectors.
He, however, noted that the bank would support the drive for cash crop commodities that would boost Nigeria’s foreign exchange earnings, which the President Mohammad Buhari’s administration has always been cautious given the dangers the continuous reliance on imported food items pose to its efforts to create jobs as well as develop and diversify the economy.
Sekibo avowed that the bank would continue to make farming profitable to stakeholders and attractive to the youth, as Heritage Bank had taken the front seat in financing critical agricultural projects in several states in the country, especially in Oyo, Kaduna and Zamfara.
He enthused further: “The award is in recognition of what we are doing with youths in the SME sector and Biase Plantations Limited, a subsidiary of Wilmar International in supporting oil palm industry and Triton Aqua Africa Limited involved in aquaculture and reforestation projects.
On the conferment of the award, the CFI judging panel disclosed that Heritage Bank was particularly recognised for its strong presence and determination to keep close proximity to small and medium sized enterprises (SMEs) segment and customers – one of most buoyant parts of the market – and perhaps one of its most important as well.
According to the panel, the bank stands to benefit from the Nigerian government’s recent decision to improve the business climate for small entrepreneurs.
CFI stated: “The bank also keeps a leading edge over the competition by embracing innovation and advances in technology to offer customers an experience not matched elsewhere.
“The bank also caters to their needs with a comprehensive array of products and services, designed to dovetail with the specific requirements of SMEs. The judges are pleased to offer Heritage Bank the 2018 Best SME Bank Nigeria Award”, the UK-based journal added.
