Ecobank Transnational Incorporated has been named African Bank of the Year in this year’s African Banker’s awards, fending off competition from six other nominees to win the highly coveted prize.The Group CEO, Arnold Ekpe, was also honored with a Lifetime Achievement Award. This was contained in a statement issued by the bank Thursday.The annual awards, which reward outstanding talent and achievement in Africa’s financial sector, were held under the patronage of The African Development Bank at its Annual General Meeting in Arusha, Tanzania.Commenting on Ecobank’s success, Omar Ben Yedder, Publisher of African Banker magazine, said: “It's been another milestone year for Ecobank, especially with the acquisition of Oceanic Bank in Nigeria, and the Group produced a very solid financial performance overall."In terms of its footprint and achievements, it continues to drive forward and remains ahead of its competitors. Its investment banking operations, although smaller than its rivals, are growing rapidly, closing a number of landmark deals in 2011.”Mr. Ekpe’s outstanding contribution to business in Africa, in a career spanning over 30 years, was further recognized by a Lifetime Achievement Award in the fourth African Business Leadership Awards (“ABLA”).ABLA was established to recognize the accomplishments of responsible and ethical business leaders in the private sector. Senegal’s Minister of Economy and Finance, Mr. Amadou Kane, presented Mr. Ekpe with his award.Arnold Ekpe, Ecobank Group CEO, observed:“It has been my privilege to oversee the development of Ecobank during a period of rapid growth and innovation. I am immensely proud of what my team of highly professional and very committed people has achieved in building the first pan-African bank and these awards are a testament to their hard work and determination on a daily basis.”