Kigali, Rwanda 5th January 2021... Equity Bank Rwanda has received the Bank of the Year Rwanda 2020 award by The Banker, during the Bank of the Year Awards 2020. The Bank emerged top in class for clearly exhibiting a strong fiscal performance in the financial year of 2019. In the year under review, Equity Bank Rwanda increased its Tier 1 capital by 27% from RWF 28.6 Billion in 2018 to RWF 36.2 Billion in 2019, assets by 18% from RWF 233.1 Billion in 2018 to RWF 276.1 Billion in 2019 and net profits by 54% from RWF 6 .0 Billion million in 2018 up to RWF 9.2 Billion in 2019.
Commenting on the award, Equity Bank Rwanda Managing Director, Hannington Namara said, “We are delighted to be recipients of Bank of the Year Rwanda 2020 award by The Banker. The award affirms our commitment to provide inclusive financial services that transform livelihoods, give dignity and expand opportunities. We have rolled out financial solutions that have enabled our customers to self-service and access banking services 24 hours, 7days in a week, making banking something you do rather than a place you go to.”
The awarding entity, The Banker, also considered the difficult operating environment occasioned by the COVID-19 pandemic and the role banks played in delivering much-needed government funding, as well as providing specific measures themselves.
The Equity Bank contributed 22,225 testing kits worth USD 1.06M to the government of Rwanda in support of national efforts to combat the spread of the virus. The Bank also contributed to efforts of dealing with the negative effects of COVID-19 and helped to create a support programme for small and medium-sized enterprises (SMEs) that were heavily affected by the pandemic. The Bank partnered with Enterprise Partner Solutions and the Mastercard Foundation to set up a COVID-19 Recovery and Resilience programme to support SMEs and their value chains in the tourism and hospitality sector, one of the hardest hit by the pandemic. The commitment from Mastercard Foundation worth USD 2.5million will be used to provide financial support and technical assistance, with Equity Bank Rwanda as a financing partner. Incubation support will be given to 60 start-ups and another 50 established SMEs will benefit from an accelerator programme.
According to The Banker, the investment which banks have been making in their digital transformation efforts have truly paid off and will continue to reap rewards in the years to come, in terms of lowering service costs, improving customer experience and driving the financial inclusion agenda.
As part of an upgrade to the EazzyBanking App, Equity Bank introduced EazzyPay, an interoperable retail last mile payment platform which eliminates the risks associated with carrying cash. The bank also introduced an instant-opening account mobile-based platform dubbed “Akokanya” which helps customers self-board via an app or USSD. Customers can use Eazzybanking platform to do all their transactions including applying for instant loans.
About Equity Bank Rwanda
Equity Bank Rwanda began its operations in 2011 and is registered as a commercial bank by the National Bank of Rwanda. The Bank has its Head Office located in Kigali, with a foot-print of 14 branches and is supported by 1503 agents, 1074 merchants and a network of 21 ATMs.
Equity Bank Rwanda is a subsidiary of Equity Group Holdings Plc, a financial services company listed at the Nairobi Securities Exchange, Uganda Securities Exchange, and Rwanda Stock Exchange. In addition to Equity Bank Rwanda, the Group has banking subsidiaries in, Kenya, South Sudan, Uganda, Tanzania, DRC, and a Commercial Representative Office in Ethiopia; with additional non-banking subsidiaries engaged in the provision of investment banking, custodial, insurance agency, philanthropy, consulting, and infrastructure services.
Equity Group has an asset base of over USD 10 billion. With over 14.2 million customers, the Group is one of the biggest banks by customer base in the region. The Group has a footprint of 335 branches, 52,742 Agents and 35,386 Merchants and 720 ATMs. The Group is the largest bank in market capitalization in East and Central Africa. The Banker Top 1000 World Banks 2020 ranked Equity Bank 754 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. In the same year, Moody’s gave the Bank a global rating of B2 with a negative outlook same as the sovereign rating of the Kenyan government due to the Bank’s strong brand recognition, solid liquidity buffers and resilient funding profile, established domestic franchise and extensive adoption of digital and alternative distribution channels.
The shareholders of Equity Group Holdings (formerly Equity Bank Limited), have approved a raft of...View More
The regional integrated financial services firm, with banking interests in Rwanda, Uganda, South...View More
Equity Bank Rwanda has kicked off a corporate initiative to instantly issue Automated Teller Machine...View More
Equity Bank today unveiled its Mobile Virtual Network Operator (MVNO) strategy and rollout plan that...View More
Emerging from a depressed operating economic environment as well as challenges posed by the recent...View More
Equity Bank Group’s investments in IT, growth in the number of customers and branch upgrades to...View More
Equity Bank Group together with Infosys Technology, IBM, Oracle and Open Way Group today unveiled...View More
Equity Bank Group’s focus on enhancing affordability, accessibility and convenience has seen its...View More
Regional banking group, Equity Bank's reduction of interest rates by 700 bps from 25% to 18% has...View More
The Group posted a profit before tax of Kshs 4.52 billion up from Kshs 3.73 billion posted during a...View More
The Group’s total assets posted a 24% growth during the year to close at Ksh 243 billion up from...View More
Partnership to increase financial inclusion and boost EMV migration efforts in the region.View More
Dr. James Mwangi, Equity Bank Group CEO and Chairman of Equity Group Foundation has announced the...View More
The ceremony was organised by the eventing arm of the ABN Group - ABN Productions.View More
Equity Bank Group has today launched a partnership with China Union Pay, which will allow UnionPay...View More
Equity Bank Group continued to defy macro-economic turbulence to maintain steady growth and posted a...View More
The prestigious award presented by CNBC Africa in South Africa for the second year running is a...View More
Dr James Mwangi today at Equity Centre announced two key appointments in the Equity Bank Group’s...View More
Dr Mwangi will serve as a council member of the G8 New Alliance for Food Security and a member of...View More
Membership in the Leadership Council is by agreement and invitation of the Co-Chairs and Council...View More
21 scholars in the Equity Bank university sponsorship program have so far received scholarships in...View More
Regional banking group, Equity Bank continued to maintain its growth momentum with the profit before...View More
Africa's Inclusive Finance Guru Is World's Best EntrepreneurView More
Dr. James Mwangi, CEO and Managing Director of Equity Bank is the 2012 Ernst & Young World...View More
After winning the 2011 East Africa Master Entrepreneur of the Year by Ernst & Young, Equity Bank...View More
Equity Bank has been awarded Best Managed Company in Africa;View More
Equity Bank has been named the Best Bank in Kenya this year as the CEO Dr James Mwangi received the...View More
"People are driven by emotions and it's all about the enthusiasm of liberating our people" Said Dr....Watch Video
Equity Bank Rwanda made a contribution of 22,225 testing kits at a cost of FRW 1Billion to the...View More
Brand refresh is geared towards positioning the brand to empower individuals, businesses and the...View More
The African Guarantee Fund (AGF) and Equity Group Holdings Plc have signed an agreement which will...View More
Equity Group Holdings (EGH) has signed a USD $100 million loan (Ksh 11 Billion) facility to support...View More
Equity Bank Rwanda is pleased to announce the launch of new loan products for the agriculture sector...View More
The new platform will give customers the freedom to execute forex requirements in real time in a...View More
The new branch will serve as an advisory centre for retail consumers, SMEs and corporates as well as...View More
Col (Rtd). Haguma brings on board a wealth of leadership experience, having previously served in...View More
Equity Bank Kenya Limited has received two International Standards Certifications - ISO 20000 and...View More