Juba, South Sudan 14th January 2021…. For the second year running, Equity Bank South Sudan has received the Bank of the Year South Sudan 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. 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.
Commenting on the award, Equity Bank South Sudan Managing Director, Dr. Addis Ababa Othow said, “We are proud to be recipients of the Bank of the Year South Sudan 2020 award by The Banker. We appreciate the recognition that indicates we are truly living to our mission of offering financial services that socially and economically empower consumers, businesses and communities.”
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 the cost to serve, improving customer experience and driving the financial inclusion agenda.
“We are committed to the continued improvement of our products and services. To support our customers during this COVID-19 pandemic, we enhanced uptake of self-services like online and digital services to ensure they have access to banking services 24/7, while at the same time rolling initiatives to support our customers survive and thrive post COVID-19. Our digital banking self-service banking channels have transformed banking to something you do, and not somewhere you go,” said, Dr. Othow.
The Bank deployed the Eazzy Banking Suite to support businesses and individuals. The banking suite comprises three digital solutions. EazzyBiz, a web-based product that allows SMEs and corporate clients to make payments and collections and manage their liquidity. It gives a 360-degree view of accounts and allows host-to-host transfers of files between bank and client. The Eazzy Banking App, which enables internal funds transfer, balance enquiries and mini statements. It requires a one-time-PIN to authenticate login and transactions, providing robust security. EazzyNet is a retail internet portal where customers can manage their bank accounts anywhere anytime. The solution is tailored for customers who prefer online banking while on the move.
Dr. Othow further added, “Some of our 3rd party variable cost channels such as the Equity Agents are our way of realizing our shared prosperity model. By offering banking services on behalf of Equity, our agents help us to speed up our commitment to broaden financial access and deepen financial inclusion. Our people benefit from getting last-mile access to banking services.”
Equity Bank South Sudan has also invested in merchant acquiring systems with over 50 merchants across the country, including all the major hotels, restaurants and shopping malls in Juba.
The Bank of the Year Awards 2020 by the Banker, a monthly international financial affairs publication owned by The Financial Times Ltd, is a continental awarding showpiece that recognizes and acknowledges excellence in the banking sector drawn from the world’s leading financial institutions. They are judged on their ability to deliver returns, gain strategic advantage and serve their markets. In 2019, Equity Bank South Sudan, Kenya and Uganda subsidiaries emerged winners in the Bank of the year category.
About Equity Bank South Sudan
Equity Bank South Sudan began its operations in May 2009 and is registered as a commercial bank through the Central Bank of South Sudan. The Bank has its Head Office located in Juba, with a foot-print of 5 branches and is supported by 34 agents, 15 merchants and a network of 17 ATMs.
Equity Bank South Sudan 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 South Sudan, the Group has banking subsidiaries in, Kenya, Rwanda, 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 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. Equity Group Holdings Plc is regulated by the Central Bank of Kenya.
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