Co-operative Bank had the highest volume of non-performing loans. FILE PHOTO | DENNIS ONSONGO Meanwhile, Bank of Tanzania (BoT) has introduced measures to address non-performing loans, which include zeroing in on individual bank employees who are directly responsible for issuing the loans. The latest unaudited financial statements for regional lenders KCB, Equity and Co-operative banks […]
East Africa’s top retail banks booked more than $125 million of bad loans in the nine months to September this year, as borrowers struggled to repay their loans following the expiry of a 12-month loan repayment relief programme for customers adversely impacted by the Covid-19 pandemic. This comes as regional banking regulators in Kenya, Tanzania […]
Equity Group Managing Director & CEO Dr. James Mwangi [Wilberforce Okwiri, Standard] Equity Group founder Peter Munga knows well what to do in the face of failure: look for people to rescue the vision. But for KCB Bank, hitting rock bottom has not been part of its story. Since 1896, when it started its operations […]
Equity Bank Uganda has launched an environmental conservation and climate financing initiative to facilitate clean energy generation and increase the adoption and purchase of innovative clean energy technologies that directly impact peoples’ health, incomes and the environment in Uganda and other countries within East and Central Africa. The Bank is working together with households and […]
Equity Group CEO James Mwangi could become one of the longest-serving CEOs in the country, after disclosing that he will leave his position earliest 2032. Mwangi has served the bank for 31 years including 17 years as CEO, and he plans to go beyond the 70-year age limit set by the Capital Markets Authority (CMA). […]
Nairobi — Kenyan Banks have emerged top of their other East African counterparts in the 2021 ranking of the continent’s top 100 banks by tier 1 capital conducted by Africa Business Magazine. Equity was the highest-ranked in the report. The regional lender climbed three places to position 24 following a 27 percent increase in its […]
Amb. Richard Kabonero, High Commissioner met Hon. January Makamba, Minister for Energy, Tanzania in Dar es Salaam this morning for discussions on bi-lateral cooperation and the upcoming Tanzania-Uganda Oil & Gas Symposium Preparations for the Tanzania-Uganda Oil & Gas Symposium have gained momentum with key private sector players confirming their attendance. The high level event […]
McKinsey found that the COVID-19 crisis has brought about years of change in the way companies in all sectors and regions do business At Equity Bank for instance, digital banking now accounts for 97% of the bank’s transactions with legacy banking – physical branch networks and ATMs only 3% Safaricom’s total value of M-PESA transactions […]
From left to right: DRC Embassy second secretary Botuli Bosaw Geoffrey, Kenya Trade Cabinet Secretary Betty Maina and Equity Group CEO James Mwangi in Nairobi on November 1. FILE PHOTO | COURTESY The Marshall Plan, which borrows heavily from the $15 billion US-led European Recovery Programme following the devastation of World War II, aims to […]
Equity Group CEO James Mwangi. PHOTO | FILE | NMG Equity Group has recorded a 79 percent rise in net profit in the nine months to September this year, helped by growth in interest and non-interest income. The regional lender’s profit after tax in the review period stood at Ksh26.87 billion ($242.07 million) compared to […]
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