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Equity Bank Emerges Best in Corporate Responsibilities

Oct 4, 2023
Equity Group Managing Director and CEO, Dr. James Mwangi addresses analysts and guests during the Quarter One 2023 Investor Briefing event. Equity Group registered a 21% growth in total assets to reach Kshs.1,537.7 billion from Kshs. 1,269.5 billion, 8% growth in profit after tax from Kshs. 11.9 billion to Kshs. 12.8 billion, a 23% growth in customer deposits with the proceeds deployed to grow the loan book by 21%. Customer deposits grew to Kshs.1,111.2 billion up from Kshs.900.9 billion while the loan book grew to Kshs.756.3 billion up from Kshs. 623.6 billion.
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Equity Bank has garnered numerous recognitions at the Euromoney Awards for Excellence 2023.

This includes The Best Bank for Corporate Responsibility in Africa (for the second year in a row), Best Bank in Kenya, Best Bank in DRC, Best Bank for SME Banking, Best Bank for Digital Solutions, and
Best Bank for CSR in Kenya.

The Euromoney Awards serve as a beacon of excellence in the banking industry, applauding
institutions that demonstrate exceptional corporate responsibility practices, ethical conduct, and
transformative initiatives in the communities they serve.

The awards cover various categories, including regional and country-specific recognitions, as
well as specific areas of banking such as digital solutions, corporate responsibility, and risk

Financial institutions from around the world compete for these accolades, which serve as a benchmark for success and a testament to their commitment to delivering exceptional services and driving positive change in the financial sector.

Speaking after wining the award, Equity Group CEO and Managing Director Dr. James Mwangi stated;

“These prestigious accolades reaffirm our unwavering commitment to transforming lives, giving dignity, and expanding opportunities for wealth creation among our customers and communities across Africa. We are humbled by these recognitions of our achievements in corporate responsibility, financial
performance, and strategic growth. Through our innovative digital solutions, extensive branch
network, and dedicated employees, we will continue to champion in shaping Africa’s financial
landscape and providing exceptional services to our valued customers,” he said.

Read Also: Equity Bank Ranked Best at Think Business Banking Awards

The recognitions at the Euromoney Awards for Excellence 2023 demonstrate its
commitment to excellence in banking and corporate responsibility.

The bank has $1.5 billion in Tier 1 capital, $11.7 billion in assets, and $364 million in income. The competitive Kenyan market provided ten banks to the top 20 regional rankings.

The Top 100 African Banks list by Banker Magazine is based on each bank’s Tier 1 capital, which includes capital, reserves, retained earnings, and minority holdings.

These numbers are provided in local currencies and then converted into US dollars at the exchange rates at the year-end date in the results (or on 31 December 2022), thus changes in FX rates can have an impact on the ranking.

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