Capital Bank was adjudged the Best Growing Bank, Best Bank in Deposits & Savings, and Best Bank in Household/Retail Banking for the year 2015, and the fallout from the bank’s collapse has seen the credibility of the awards scheme questioned.

[contextly_sidebar id=”3ZN2riOrFIN8UVDHoR6uDOi2XnccWrZy”]But Charles Benoni Okine, the Head of Media and Programmes for Corporate Initiative Ghana explained that Capital Bank’s awards were based on a qualitative assessment.

“It wasn’t the quantitative side but the qualitative side. You go onto the field and the responses that are gotten is what is validated and then the award is given,” he said to Citi News.

“Ernst & Young and RIMS Consult are the technical guys. We are not competent in doing deep research. That is why we give it to these two credible institutions to handle,” Mr. Okine said to underscore the credibility of the process.

Mr. Okine assured further that there was also no avenue for money to change hands in what is a transparent process.

He said processes are so transparent that, “before they hit the field, the technical committee has to agree on each question that is going to be asked. They hold a number of technical committee meetings before they go to the field.”

“Those who may be complaining are not privy to the information but I am saying… these processes they are taken through is almost 100 percent foolproof. There is no ‘kululu’ anywhere because the banks are not even made to pay anything to be part of the awards.”

Ghana Banking Awards methodology

The Approach and Methodology for the various categories of the Ghana Banking Awards are based on qualitative and quantitative analyses.

From a qualitative standpoint, the methodology engages face to face interviews with the banks’ customers to evaluate the experiences they have had and all banks qualify to be assessed qualitatively. As an example, the Customer Care Award category is based on qualitative analysis.

For the quantitative evaluation, a bank must have at least two years audited financial statements, which is used to award a category like the Financial Performance Award.

The Approach and Methodology document for the awards has been scrutinized and agreed upon by the Technical Committee, which consists of representatives of all competing banks; 33 banks in the case of 2017.

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By: Franklin Badu Jnr/Delali Adogla-Bessa/citifmonline.com/Ghana

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