Four worldwide awards have been given to the Bank of Industry (BOI) in appreciation of its contributions to economic development, dedication to sustainable banking practices, and creative capital raising strategies.
The bank won the “Best Development Bank- Africa 2022” prize at the International Banker 2022 Banking Awards, “Most Sustainable Bank 2022, Nigeria” at the World Finance Banking Awards, “Best SME Partner Bank of the Year” at the European Magazine Global Banking and Finance Awards, and “CEO of the Year” at the World Finance Banking Awards. The awards ceremony took place in the financial district of London.
These top awards followed BOI’s extraordinary capital raising run, which saw $5 billion raised in total over the previous five years, under Pitan’s direction.
The European Magazine Global Banking and Finance Awards recognized Pitan’s accomplishments by awarding him the title of “Banking CEO of the Year” for the second time (first received in 2019).
“We are committed to driving impact in Nigeria’s industrial sector by supporting micro, small, medium and large enterprises to achieve sustained growth that generates considerable multiplier effects such as industrialization, job creation, and poverty alleviation for the economy” said Mr. Olukayode Pitan, Managing Director/Chief Executive Officer, Bank of Industry, speaking on his award.
“Our dedication to building a resilient organisation that can respond to the needs of our customers and operating challenges is unwavering. In the past 5 years, we have raised over $5 billion from the International Debt Market towards enhancing our capital base to support our customers and the real sector in Nigeria. This has significantly strengthened the bank’s capacity to continue to provide the much needed finance required by Nigerian enterprises to thrive and scale-up their business operations”, Mr. Pitan added.
Through direct and indirect initiatives, the Bank of Industry has funded more than 4.3 million businesses in Nigeria with over $3.1 billion (or $1.36 trillion) between 2015 and June 2022, resulting in the creation of an estimated 9.6 million employment.
The International Banker Banking Awards were created to recognize the top companies that set the bar for success, corporate responsibility, and technical advancement.
The World Finance Banking Awards honor businesses that empower their clients and serve a higher purpose. Similar to The European Awards, which has honored excellence, innovation, and accomplishment through its annual awards for the past ten years.