The Association of African Development Finance Institutions on Tuesday rated the Bank of Industry among the top seven performing development finance institutions on the continent.
The bank’s Managing Director, Rasheed Olaoluwa, announced the development at its Impact Awards Night as quoted in a statement in Lagos.
The statement said the bank had a 92 per cent score and AA rating under the association’s prudential standards, guidelines and rating system.
It quoted Olaoluwa as saying that the bank’s recent rating by AADFI reaffirmed its commitment to industrialising the nation’s real sector.
The statement said the bank was among the 46 national institutions subjected for review and evaluation to identify areas of weaknesses for self-improvement.
It quoted Olaoluwa as saying: “Today, we are celebrating impact across the real sector. No one can achieve success without the help of others.
“We are rewarding a team that has worked to deliver value. We are also recognising our customers that have impact in 2015 in their sectors.”
The statement added that the bank rewarded its staff for long service and excellent performance in operations, while customers were recognised for renewed commitment to impact delivery in the real sector.
The statement said Innoson Technical and Industrial Manufacturing was recognised as the best large enterprise directorate customer in employment generation with more than 7,200 staff.
Mouka Limited was acknowledged as best large enterprise directorate customer in loan repayment, while Kam Industries Nigeria Limited emerged the best large enterprise directorate customer with real sector impact.
In the small and medium enterprises category, Cobef International Limited in Rivers State, with 210 workers, was rated the best customer in employment generation.
I.O. Furniture Nigeria Limited emerged the best SME customer in loan repayment, while Saclux Industries Limited, an agro-processing company in Enugu, won the best customer in real sector impact, the statement explained.
It also quoted Dr Frank Jacobs, the President of the Manufacturers Association of Nigeria, as commending the bank’s initiative.
The statement also affirmed the bank’s noticeable impact in the real sector through improved access to funds.
The Chief Executive Officer of KAM Industries, Dr. Kamaldeen Yusuf, was quoted as saying that the firm was a product of support from the bank.
Yusuf added that the recognition would drive the firm toward expansion and continued value addition in the real sector.
AADFI was established in 1975 under the auspices of the African Development Bank as a continent-wide body for coordination and economic solidarity.
It is out to stimulate the financing of economic and social development projects in Africa through cooperation among banks and financial institutions.
NAN.