Equity Bank ranks position 7 in the list of top 10 banks in Africa

What you need to know:

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

performance, Dr James Mwangi, Managing Director and CEO said that, the enhanced efficiency and cost optimization saw cost income ratio improving to 51 percent from 52.4 percent in 2018. The Group has maintained its yield on interest earning assets at 11.2 percent 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 Bank ranked number 5 on the backdrop loan agile balance sheet with a liquidity of 52.1 percent, a loan deposit ratio of 75.9 percent and a core capital to risk weighted asset ratio of 19.8 percent. The balance sheet reflects solid diversified funding with customer deposits constituting 72 percent of the total funding, shareholders and long term borrowing contributing 17 percent and 8 percent 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 percent of the total assets while government securities and cash and cash equivalents contributed 26 percent and 13 percent of the total asset allocation respectively.

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 300 branches, 51,560 Agents and 31,265
Merchants and 623 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.

Equity Bank ranks position 7 in the list of top 10 banks in Africa

What you need to know:

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