adminBusiness Reporter
STANBIC Bank Zimbabwe, which is wholly owned by Standard Bank Group of South Africa, has been rewarded for its excellence in adherence to good corporate governance by the Institute of Chartered Secretaries and Administrators in Zimbabwe (ICSAZ).
The bank was second runner up in the banking institutions category at the Excellence in Corporate Governance Awards held in the capital last week.
Stanbic Bank Chief Executive Officer, Mr Joshua Tapambgwa said: “Stanbic Bank is greatly honoured and appreciates this recognition from ICSAZ. . . Stanbic Bank strives to strictly adhere to good principles on corporate governance through transparency and integrity.”
Mr Tapambgwa said the award is an indication that Stanbic Bank is committed to fully serving its stakeholders in an equitable way that promotes and ensures harmony amongst the various stakeholders.
He said recognition from such a respected institution demonstrates that Stanbic Bank is committed to the welfare of its stakeholders.
Stanbic Bank has won numerous awards this year from various institutions across the globe including Best Investment Bank in Zimbabwe by Global Finance & Banking Review, Best Banks in Zimbabwe by EMEA Finance Banking Magazine, Best Commercial Bank in Zimbabwe by World Finance Banking Awards and Best Emerging Markets Bank in Zimbabwe by Global Finance magazine.
The Excellence in Corporate Governance awards were held for the third time since their inception in 2013.
They have become a yardstick on corporate governance in Zimbabwean entities and this year’s edition featured a total of 15 Banks that were all vying for recognition.
The banking institutions category is in its second year running and it included other award categories focusing on Zimbabwe Stock Exchange (ZSE) listed companies and State Enterprise and Parastatals (SEP).
The Institute of Chartered Administrators and Secretaries in Zimbabwe introduced the Excellence in Corporate Governance Awards with the objective of encouraging upright corporate governance practices in Zimbabwe by distinguishing efforts made by corporate boards to efficiently lead their organizations in a sustainable, innovative and principled way.
Stanbic Bank Zimbabwe is one of the biggest banks operating in Zimbabwe. It has 20 branches across the country and offers a variety of products and services for individuals and organizations.
The bank has introduced home loans to the Zimbabwean market to enable potential home owners realise their dream.
Head of Personal and Business Banking, Mr Brian Ndadzungira, said in a recent interview, Stanbic Bank was well aware that “home is where the heart is” and was geared to play its part in helping potential home owners to have their own roofs over their heads.
“Stanbic Bank is aware that everyone dreams of having their own place to come home to and we are offering potential home owners an opportunity to make that dream a reality. In addition we also offer loans for home improvements for existing house owners.
“This will enable one to renovate or improve an existing property,” said Mr Ndadzungira.
He said the home loans are at competitive interest rates with repayments up to 20 years.
Loan repayments are usually lower than what a person is paying in rentals for comparative properties.
The home loans come with life and property insurance cover.
The property that a person can buy under the Stanbic home loans has to have acceptable title deeds which have not been used as security elsewhere.
Mr Ndadzungira said one can have a joint application of the loan with their spouse thereby making it more affordable for couples who pool in their financial resources.
Given that buying a home can be complex and stressful, Stanbic Bank has a means to lessen the financial burden.
“To ensure commitment from the buyer, our home loans come with a deposit commitment from the client. This means the prospective home owner has to raise part of the price of the house.
“Stanbic will allow you time to raise the deposit required. We have savings and investment product offerings that can assist you to raise the deposit,” he said.
Online Reporter