International Finance

IFM Financial Award Winners 2016

Meet the winners and trend-setters

January 19, 2017: The world’s financial markets and companies were taken by surprise in 2015 by the drop in oil prices. Not many had seen it coming. While the import bills of many nations came down significantly, a dip in demand for oil also triggered a fear of a slack in economic growth. It took a while for nations and companies to get a grip on the situation.

The impact in oil producing nations was drastic, to say the least. A fall in revenue resulted in many staring at huge deficits in their budgets and forced them to downsize. It meant tightening of the job market, which affected the retail sector as consumers held on to their savings in anticipation of tougher days. The fear of a slack in economic growth began to find resonance in the numbers that economists were picking up from the markets.

In the midst of such a scenario, when survival itself was at stake, some companies showed why they are the leaders in their segments. Many tightened their belts and innovated to cut costs. They either came up with new products, or tweaked existing ones, to cater to the changed market scenario.

But even in the midst of belt-tightening, a few companies were steadfast in their commitment to community service and CSR activities. In fact, it is in such times that weaker sections of society are in greater need of support and help.

The IFM Financial Awards 2016, presented at a glittering ceremony in Singapore on December 16, honoured the companies that read the situation better than their peers and competitors, and quickly came up with products and services that helped them turn in a laudable performance.


Best Banking CEO – Azizi Bank (Afganistan)

Best Customer Service Bank – Azizi Bank (Afganistan)

Best Credit Card Offerings –Bank Alfalah (Pakistan)

Best Corporate Bank – Cathay United Bank (Taiwan) 

Best SME Bank – Commercial Bank Of Ceylon (Srilanka)

Most Socially responsible Bank -Land Bank of Philippines (Philippines)

Best CSR Initiative – Land Bank of Philippines (Philippines)

Most Innovative Lending Platform – Land Bank of Philippines (Philippines)

Best Multi-Currency Processing Platform – Omnipay Asia (Philippines)

Most Innovative Bank -Philippine National Bank (Philippines)

Best Card Offering – RCBC Bankard Services Corporation (Philippines)

Best Foreign Exchange bank –Standard Chartered Bank  (Bangladesh)

Most Innovative Credit Card Services – SouthEast Asia Joint Stock Commercial Bank (Vietnam)


Fastest Growing Takaful Company – SunLife Malaysia Takaful Berhad (Malaysia)

Best Insurance Company – Tenger Insurance LLC (Mongolia)

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