The announcement was made in New York City in the United States, where Global Finance magazine named its 23rd annual World's Best Foreign Exchange Banks as part of the Gordon W. Platt Foreign Exchange Awards. Winners were chosen from 88 countries and territories, seven regions and multiple global categories. Winning organisations will be honoured at an Awards Reception on Wednesday, 22 February, 2023, at Glaziers Hall in London.
Criteria for choosing the Foreign Exchange Banks Award winners included transaction volume, market share, the scope of global coverage, customer service, competitive pricing and innovative technologies. Global Finance also considered bank submissions and input from industry analysts, corporate executives, and technology specialists. “The return of inflation rates that have not been seen in four decades has dramatically increased the foreign exchange market's volatility. Now, more than ever, selecting the best Foreign Exchange partner is critical," said Joseph Giarraputo, founder and editorial director of Global Finance. "These awards honour banks with FX departments that have provided their clients' superior guidance and performance during these changing times."
“As we celebrate our 40th Anniversary, this Award has come at the right time because this is a collective achievement. This Award is a testament to the hard work, resilience, and dedication of the Treasury Team, the Bank Windhoek staff and customers," said Bank Windhoek's Chief Treasurer, Claire Hobbs.
Global Finance, founded in 1987, circulates 50 000 printed copies and has readers in 193 countries and territories. Global Finance's audience includes senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Its website — GFMag.com — offers analysis and articles that are the legacy of 36 years of experience in international financial markets. Global Finance is headquartered in New York, with offices worldwide.
Besides the Global Finance Award, in 2022, Brand Africa named Bank Windhoek as the Best Financial Services brand in Namibia.