Equity becomes the 1st bank in Eastern and Central Africa to achieve this milestone paving way for EastAfrican banks to play in the league of big banks with South Africa, North Africa and West Africa. The bank scores among top ten banks on key parameters;
  • On soundness, Equity was ranked number 5
  • On growth performance the bank ranks position 9
  • Equity also ranked position 8 in return on risk
  • Equity was ranked number 6 on leverage category and,
  • On profitability the bank was ranked number 6

Nairobi, Kenya – 16th October 2020…, Equity, with a balance sheet size worth Kshs. 673.7 billion at the end of 2019, has been listed at number 7 among the top 10 Banks in Africa in 2020 with a score of 5.82 in the overall category of the best performing banks. This is according to The Banker’s Top 100 African Banks ranking for 2020.

This year’s ranking shows stabilisation in the finances of the majority of African major lenders. The ranking, which tracks the health and wealth of the African banking sector, used an array of metrics including the overall growth performance, financial soundness, profits on capital, leverage and return on risk.

In the year under review, Equity improved on its performance with a 14% profit after tax growth to Kshs 22.6 billion from Kshs 19.8 billion in 2018. The impressive performance registered during an interest capping period was driven by a 23% growth in loan book to Kshs 366.4 billion from Kshs 297.2 billion in 2018.

Commenting on the Group’s performance, Dr. James Mwangi, Managing Director and CEO said that, the enhanced efficiency and cost optimization saw cost-income ratio improving to 51% from 52.4% in 2018. The Group has maintained its yield on interest-earning assets at 11.2% despite the challenge of interest capping and declining yield curve. Innovation has also been a great enabler in driving growth and is already registering efficiency gains from digitization.

On financial soundness, Equity ranked number 5 on the backdrop of an agile balance sheet with a liquidity of 52.1%, a loan deposit ratio of 75.9% and a core capital to risk-weighted asset ratio of 19.8%. The balance sheet reflects solid diversified funding with customer deposits constituting 72% of the total funding, shareholders and long-term borrowing contributing 17% and 8% respectively. The financial soundness is further enhanced by a strong capital base, which is well within both internal and regulatory limits, solid business performance and Net loans which constituted 54% of the total assets while government securities and cash and cash equivalents contributed 26% and 13% of the total asset allocation respectively.

“The ranking is an indication that Equity remains robust, despite the challenging operating environment. We have developed and adopted a sustainable business model to cushion the business as well as boost value creation for shareholders,” added Dr. Mwangi.

The Banker Top 1000 World Banks 2020 ranked Equity Bank 754 in balance sheet size overall in its global ranking, 62nd in soundness (Capital Assets to Assets ratio), 55th in terms of Profits on Capital and 20th on Return on Assets.

 

Related stories

118 Equity Leaders Program (ELP) Scholars Admitted to 56 Global Universities including the Ivy League Universities

The global scholars will benefit from undergraduate scholarships from their host institutions valued...

View More
1,410 Wings to Fly Scholars Attain University Qualifying Grades Representing a University Transition Rate of 86%, the Highest in 5 Years

Beneficiaries of the 2017 Wings to Fly scholarships who sat for the 2020 KCSE exams have...

View More
Equity and American Express Revamp the Membership Rewards Redemption Experience

Equity American Express Card members earn Membership Rewards points when they spend on their Cards....

View More
EQUITY RETAINS BEST BANK IN KENYA TITLE FOR 10 YEARS IN A ROW

Equity Bank Kenya has received 22 accolades in the 2021 Banking Awards by Think Business cementing...

View More
EQUITY GROUP FOUNDATION COMMENCES SELECTION PROCESS FOR THE 2021 WINGS TO FLY AND ELIMU SCHOLARSHIPS

10,500 scholarships to be offered to bright and deserving students through the Wings to Fly program...

View More
EQUITY GROUP TO SUPPORT FARMERS IN PLANTING 60,000 TREES AT KIPIPIRI IN NYANDARUA COUNTY

Equity Group has partnered with Kipipiri Constituency to support farmers and institutions in...

View More
Equity Ngara Branch Partners with Ministry of Interior and Coordination of National Government to Plant Trees at Mathari National Teaching and Referral Hospital

Equity Ngara Branch partnered with the Ministry of Interior and...

View More
Equity Group Defies COVID-19 Impacts and Registers 51% Balance Sheet Growth

The year 2020 was like no other. COVID-19 struck at the beginning of the year and the East Africa...

View More
Equity Bank Kenya and FMO-NASIRA sign guarantee program for COVID-19 support

Equity Bank Kenya (EBK) is delighted to announce its partnership with the Netherlands FMO...

View More
Equity Bolsters its Support to Small and Medium Sized Enterprises in Kenya, Uganda, Rwanda & DRC with USD 75 Million (Kshs 8.25 Billion) Women Guarantee Fund with African Guarantee Fund (AGF)

The African Guarantee Fund (AGF) and Equity Group Holdings Plc have signed an agreement which will...

View More
Equity Enhances its Support to MSMEs by Signing a US $100 Million (Equivalent of Kshs 11 Billion) Credit Facility with Leading European Development Banks

Equity Group Holdings Plc. has signed a US $100 million (Kshs 11 Billion) loan facility with Team...

View More
Equity Launches Clean Cooking Initiative to Support Learning Institutions Transition to Cleaner, Sustainable and Environmentally Friendly Sources of Cooking and Lighting

Dubbed the ‘Clean Cooking Project’, the initiative aims at supporting learning...

View More
Equity Continues Its Commitment to MSMEs to Sustain and Scale Their Operations with Funds from Leading European Institutions

Equity Group Holdings Plc has signed a Kshs 16.5 Billion loan facility with the European Investment...

View More
Equity Ranked 2nd Most Valuable Kenyan Brand in Continental Brands Showpiece

Equity has been ranked as the 2nd topmost valuable brand in Kenya, according to Brand Finance, an...

View More
Equity receives double recognition at the African Bankers Awards 2020

Nairobi, 1 View More

Equity Appoints Samuel Onyango as a new Director to the Kenya Board

Nairobi 25th November 2020… Equity has announced the appointment of Samuel Onyango as a...

View More
Equity wins SME Bank of the Year at the Global SME Finance Awards gala

For the third consecutive year, Equity has won the 2020 SME Bank of the year - Africa Award at the...

View More
Equity Group Foundation And The Kenya COVID-19 Fund Board Kick Off Second Round of PPE Distribution To Public Hospitals, and Final Year Medical and Dental Students

The second consignment of PPEs for public hospitals is valued at Ksh 125M with an additional...

View More
Prof. Timothy Waema joins Equity Bank (Kenya) Limited board

Prof. Waema brings on board his extensive ICT experience that spans over 30 years in both private...

View More
Kenya National Chamber of Commerce and Industry, Equity sign Memorandum of Understanding to offer Ksh. 200 billion to Kenyan businesses

The Kenya National Chamber of Commerce and Industry (KNCCI) and...

View More
MICRO AND SMALL ENTERPRISES AUTHORITY (MSEA) AND EQUITY SIGN MOU AIMED AT PROMOTING THE GROWTH OF MSEs IN KENYA

MSE Associations under MSEA will benefit from financial empowerment, advisory services and...

View More
Equity Supports MSMEs With USD $100 Million Partnership with Proparco (Agence Française de Développement Group)

Equity Supports MSMEs With USD $100 Million Partnership with Proparco (Agence Française de...

View More
Equity CEO, Dr. James Mwangi, Wins Coveted Oslo Business for Peace Award

Nairobi, Kenya: September 9, 2020 – Dr. James Mwangi, Group Managing Director and CEO of Equity...

View More
92 Equity Leadership Program (ELP) Scholars Receive Admission to 43 Global Universities

92 Equity Leadership Program (ELP) Scholars Receive Admission to 43 Global Universities

View More
Ambassador Erastus J O Mwencha is Appointed Board Chairman of Equity Bank (Kenya) Ltd

Equity Bank (Kenya) Ltd Board has appointed Ambassador Erastus Mwencha, as the Chairman, taking over...

View More
Equity Rolls Out Universal Number for All Outgoing Calls to Customers

The 0763 000 000 number will become the single line of contact from Equity to customers thus...

View More
Public Hospitals Are Now Equipped With Ppes From Kenya Covid-19 Fund For Use By Healthcare Workers Dealing With Covid-19

The Kenya Covid-19 Fund Board, in partnership with Equity Group Foundation (EGF) have completed...

View More
Equity Partners With Crown HealthCare

Equity has signed a Memorandum of Understanding with Crown Healthcare to enable SMEs in the...

View More
Equity Recognized As The Best Bank In Africa At The 2020 Euromoney Awards

Nairobi, 28th July 2020… Equity has scooped three top awards at this year’s Euromoney Awards...

View More
IFC Announces $50 Million Loan to Equity Bank to Support Kenyan SMEs During COVID-19

The loan, which will ultimately support hundreds of Kenyan businesses in the manufacturing,...

View More
Kenya Association of Manufacturers in Partnership with Equity Group Foundation and the Kenya COVID-19 Fund Support Manufacturers in Kenya to produce World Class PPEs

The Kenya  COVID-19 Fund Board, in partnership with Kenya Association of Manufacturers (KAM)...

View More
The Kenya Covid-19 Fund And Equity Group Foundation Partners With Kenya Medical Association On Case Management Training And Psychosocial Wellness Program For 50,000 Public Healthcare Workers Dealing With Covid-19

Frontline public healthcare staff dealing with COVID-19 patients will receive training on case...

View More
Equity Opts To Support Its’ Customers To Keep Their Lights On By Restructuring Their Loans Of Up To Ksh. 92billion For Up To Three Years

Equity Group has triggered a Business Continuity Plan (BCP) to protect its customers, staff and...

View More
Equity Group Foundation Partners With Mastercard Foundation On Covid-19 Response In Kenya

Equity Group Foundation (EGF), with support from the Mastercard Foundation, today announced a...

View More
Temporary Change of Business Operating Hours

Temporary Change of Business Operating Hours

View More
Health and Safety Update and It’s Impact on Doing Business

As Equity, we continue to comply and take precautionary measures for our customers and staff...

View More
Corona Virus Fact Sheet

Click below to read the Corona Virus Fact Sheet

View More
Letter To Kenyans

Now, more than ever, we invite you to make Banking something you do, not somewhere you go!

View More
Government Officially Launches Elimu Scholarship Programme

Replicates and scales the successful Wings to Fly scholarship model by targeting 18,000...

View More
1,136 Top Performing Students In Kcpe Awarded Wings To Fly Scholarships

Equity Group has today commissioned the 2020 cohort of Wings to Fly scholars at a ceremony held...

View More
Equity Bank Triple Win at International Banking Awards

Equity Bank Triple Win at International Banking Awards.

View More
Equity Bank Global Scholars Hits A Total Of 519

Fifty six Equity Leaders Program (ELP) scholars have been admitted to various top tier...

View More
Equity Bank Kenya enters into partnership with AGCO through Local Dealer FMD East Africa

Equity Bank Kenya enters into partnership with AGCO through Local Dealer FMD East Africa.

View More
Equitel’s Mobile commerce payments continue to drive growth for the operator

Equitel’s Mobile commerce payments continue to drive growth for the operator.

View More
Equity Taps World Bank Expatriate As It Gears Up For Pan African Expansion And Accelerated Digitization

Equity taps World Bank Expatriate as it gears up for Pan African expansion and accelerated...

View More
Equity Appoints Veteran Insider for Managing Director Position

 Equity Bank Kenya, a subsidiary of Equity Group Holdings Plc today announced the appointment of...

View More
Equity Bank Kenya enters into partnership with Toyota Kenya Limited

Equity Bank Kenya and Toyota Kenya Limited have today signed a partnership agreement that will...

View More
Equity and Safaricom Sign Landmark Agreement

Equity Group Holdings PLC (NSE: EQTY) and Safaricom PLC (NSE: SCOM) have today announced plans to...

View More
2018 Kcpe Top Performing Scholars Awarded Wings to Fly Secondary School Scholarships

This year, Equity Group received nearly 20,000 applications from all counties across the country...

View More
13 Wings to Fly Scholars Score Straight A in the 2018 KCSE Examination

Thirteen Wings to Fly beneficiaries were among the students who scored straight A’s in the...

View More
Equity Bank’s Christmas Carols Ring Out This Festive Season

Christmas carols have been around for years and set the stage for celebrating the birth of...

View More
Equity To Play Key Role In Creating 5 Million Jobs Or Kenyans

Equity will deploy its banking infrastructure as well as the Equity Group Foundation platform to...

View More
Equitel Enhances Convenience and Security with New Multiple User Feature Targeting Groups & Chamas

Investment groups, chamas and joint account holders can now withdraw cash from their Equity Bank...

View More
Service finder
Equity Bank is Regulated by Central Bank of Kenya