FANews
FANews
RELATED CATEGORIES

Absa bags two reputation awards in one week

20 April 2011 Absa

Absa announced that the group recently received dual recognition on two separate reputation platforms.

In the first, Absa was recognised by the internationally-acclaimed Reputation Institute on Thursday as having the best reputation among financial services providers in South Africa. Absa also scored the second best overall position among leading South African corporate organisations, trailing closely behind MTN by only two points.

In another big win, Absa won the Business Segment Award in the new Mail & Guardian Top Companies Reputation Index (TCRI) released last Friday. The TCRI is measured on the implementation of the King Reports as well as work done around the new Companies Act.

Plus 94 Research, the company that conducted the Mail & Guardian’s inaugural TCR Index, said that Absa has the best workplace environment and corporate social responsibility projects. They also said that companies that want to “put a shine on their reputation” will have to consider different ways of reaching out to the business people they wanted to influence and “not bundle them together with consumers, even though sometimes they might be one and the same audience.”

Absa Chief Marketing & Communication Officer Happy Ntshingila described the two awards as fitting for an organisation such as Absa; one that has a strong set of values.

Mr Ntshingila said: “This is a big win for us in setting ourselves apart from our competitors especially in an environment where clients and the public increasingly choose their financial services providers according to their reputation. It is a tribute to the manner in which each and every colleague in our organisation conducts themselves and plays their significant role in building and upholding our organisation’s reputation.”

Mr Ntshingila said Absa had embarked on a new journey under its One Absa strategy, which is now in its second year, and that all areas of the business are firmly focussed on building a strong reputation; one that is dependable and trusted by all clients and envied by competitors.

“This is a significant measure of our success in positioning ourselves as the most reputable financial services provider and an employer of choice. More importantly, this double recognition indicates our dedication and commitment to ensuring that we remain a highly responsible and ethical business, serving all our clients brilliantly, in every market in which we operate,” he said.

Reputation Institute Managing Director Dominik Heil said Absa had done a number of positive things to that bolster its reputation over the last twelve months.

“Absa’s reputation has improved nicely by 2.37 points to 71.85 points. The bank was also scored as the most reputable bank and financial services provider in South Africa among the organisations included in the 2010 survey.

“This score depicts an emotional connection that the general public has with Absa. Our research has shown that it is this emotional connection that determines people’s propensity to display supportive behaviour towards an organisation, such as buying its products and services, seeking employment, investing in and making positive comments about the organisation,” Heil said.

Heil also said that Absa’s achievement was enhanced by the fact that the only company that had scored higher in the survey was MTN, which was not surprising given the organisation’s highly visible involvement in the 2010 FIFA World Cup.

“Over the years, research has shown that in South Africa, the key determinants of corporate reputation are perceptions about the products and services the company offers, its leadership and in this context, particularly the reputation of the Chief Executive and financial performance. Absa has scored consistently well in all these areas,” said Heil.

Quick Polls

QUESTION

How confident are you that insurers treat policyholders fairly, according to the Treating Customers Fairly (TCF) principles?

ANSWER

Very confident, insurers prioritise fair treatment
Somewhat confident, but improvements are needed
Not confident, there are significant issues with fair treatment
fanews magazine
FAnews June 2024 Get the latest issue of FAnews

This month's headlines

Understanding prescription in claims for professional negligence
Climate change… the single biggest risk facing insurers
Insuring the unpredictable: 2024 global election risks
Financial advice crucial as clients’ Life policy premiums rise sharply
Guiding clients through the Two-Pot Retirement System
There is diversification, and true diversification – choose wisely
Decoding the shift in investment patterns
Subscribe now