Equity Bank customers queue for services at a branch in Nairobi. The lender has acquired a second DR Congo bank. FILE PHOTO | NMG The Nairobi Securities Exchange-listed lender last week teamed up with the World Bank Group to complete the acquisition of majority stakes in BCDC, the country’s second-largest bank. The EastAfrican has learnt […]
Kenya’s banks are well capitalised and liquid, but if they do not overcome their aversion to risk businesses will be starved of the credit neeeded to recover from Covid-19. Tom Collins reports Business owners looking for a bank loan in Kenya during the Covid-19 pandemic may struggle to access credit as more than 40 lenders […]
At the onset of the Covid-19 pandemic, Equity Group Chief Executive James Mwangi (pictured) spent hours poring over historical records. Mwangi studied all the major pandemics and their impact on the health, social and economic fabric years after they struck. “Pandemics have a way of coming back and terrorising societies every 100 years,” he told […]
At the onset of the Covid-19 pandemic, Equity Group Chief Executive James Mwangi (pictured) spent hours poring over historical records. Mwangi studied all the major pandemics and their impact on the health, social and economic fabric years after they struck. “Pandemics have a way of coming back and terrorising societies every 100 years,” he told […]
Equity Group Holdings CEO James Mwangi (PHOTO: FILE) NAIROBI, KENYA: The Equity Group Holdings has inked a better deal with a Congolese bank reducing consideration from the previous Sh11.2 billion (USD 105m) to Sh10.1 billion (USD 95 million). The group on Tuesday said the deal has met all the necessary approvals and the acquisition was […]
Rating Action: Moody’s upgrades Banque Commerciale du Congo S.A.’s long-term deposit ratings to Caa1 from Caa2; changes outlook to stable from positive Rating action follows completion of Equity Group Holdings’ acquisition of majority stake in BCDC London, 21 August 2020 — Moody’s Investors Service ("Moody’s") has today upgraded the long-term deposit ratings of Banque Commerciale […]
It paid Shs347bn for the 66.53% stake in a DRC bank Kampala, Uganda | ISAAC KHISA | Regional lender, Equity Group Holdings, has completed the acquisition of Banque commercial du Congo, (BCDC) in the Democratic Republic of Congo, further strengthening is foot print on the African market. This follows a no objection nod from the […]
(Ecofin Agency) – Equity Group Holdings, Kenya’s leading banking group in terms of stock market valuation has set aside 8 billion shillings ($73.7m) to address the credit risks in the first half of 2020. This is almost 8 times the amount in H1 2019. Outstanding doubtful loans jumped by 56% to 45.6 billion shillings, while […]
EQUITY GROUP HOLDINGS PLC UNAUDITED FINANCIAL STATEMENTS AND OTHER DISCLOSURES FOR PERIOD ENDED 30TH JUNE, 2020 UNAUDITED FINANCIAL STATEMENTS AND OTHER DISCLOSURES EQUITY BANK (KENYA) LIMITED EQUITY GROUP HOLDINGS PLC BANK COMPANY GROUP STATEMENT OF FINANCIAL POSITION AS AT 30th June 31st Dec 31st Mar 30th June 30th June 31st Dec 31st Mar 30th June […]
Equity Group Holdings Plc has completed the acquisition of a majority stake in the Congolese lender, Banque Commerciale Du Congo (BCDC) at a discounted price of $95 million . The takeover began in September last year when Equity Bank first announced its partnership with BCDC majority shareholder, George Arthur Forrest and family. The Kenyan money […]
The value of investments can go down in value as well as up, so you could get back less than you invest. Past performance does not necessarily indicate a financial product’s future performance. This website aims to provide information to help you make your own informed decisions. Our publications, ratings and analysis should be viewed as an additional investment resource, not as your sole source of information. This website does not provide personal advice based on your circumstances. To obtain advice tailored to your situation, please contact a professional financial adviser.