PSG Namibia’s 2020 Banking Review has again ranked Bank Windhoek as the Best Bank in the country for the second consecutive year.
The PSG Banking Review study provides a detailed time series and financial ratio analysis between banks in Namibia, South Africa, Botswana, and Zambia.
The ranking system consisted of six categories: profitability, cost efficiency, credit risk, advance growth, market share, and capital adequacy.
In the Namibian bank’s category, Bank Windhoek outperformed in five categories, leading to best rate amongst the major financial institutions in Namibia.
The Review stated that financial ratios were based on the most recent financial statement data and all compounded growth numbers over three years. Participating bank’s overall performance and soundness by identifying their strengths and weaknesses regarding other metrics such as liquidity and credit risk policies were also measured.
PSG Namibia is a reputable financial services group. Established in 1998, PSG offers a value-orientated approach, from asset and wealth management to insurance.
Bank Windhoek’s Managing Director, Baronice Hans, said that despite the challenging economic environment exacerbated by the COVID-19 pandemic, she is grateful for the trust and confidence shown by customers and staff.
“As a relationship-driven bank, our success is the result of their dedication and resilience,” she said. Hans added that Bank Windhoek has a unique and proud heritage based on its founders’ entrepreneurial foresight and pioneering spirit embedded in its culture. “In as much as we are building a strong and high-performance driven business, we focus on being a responsible corporate citizen by giving back to the communities in which we operate. We also ensure that we embed environmental sustainability as evident from our issuance of the first Southern Africa Green Bond in 2018.”