Equity Group CEO James Mwangi is in no hurry to leave the bank he helped thrive. Mwangi, 59, has revealed that he expects to stay on as the head of the financial institution for at least 10 more years, with the earliest retirement date coming in 2032. That would make him one of the longest […]
Equity Group chief executive James Mwangi has disclosed he will retire at the earliest in 2032 in what will make him one of the longest-serving CEOs of firms listed on the Nairobi Securities Exchange. Mr Mwangi, 59, says he expects to commit his future to the bank beyond the 70-year age limit set by the […]
Shareholders of Equity Bank will earn Sh2 more per share as the lender reported 79 per cent increase in net profit for the first nine months of the year. Yesterday, the firm said Earnings Per Share (EPS) improved significantly quarter on quarter from Sh4.65 in Q2 to Sh6.98 in Q3. Last year, EPS that indicates […]
Equity Group is ready to acquire a local rival if acquisition targets emerge, marking a shift to its previous strategy of seeking organic growth. Equity Group chief executive Dr James Mwangi said this is part of the bank’s growth strategy in the Kenyan market, an approach that had been focused in other regions like the […]
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 […]
The Co-operative Bank of Kenya is struggling to recover part of Sh287.42 million loans it received from the Treasury for on-lending to government projects, according to the latest disclosures on the country’s debt status. The bank, Kenya’s fourth-largest by market share, was among six privately-owned lenders which were listed by the Treasury for owing the […]
Equity Group #ticker:EQTY is open to repurchase a stake in mortgage lender HF Group, signalling a shift in its appetite to acquire rivals in the Kenyan market. Equity chief executive James Mwangi said the bank would review its interest in HF, seven years after selling its 24.7 percent stake to insurance group Britam. Britam plans […]
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 […]
East African banks remained resilient with higher Return on Equity (ROE) for the 12 months to September 30 signalling a relatively healthy performance for the regional lenders with shareholders deriving value from their investments amid the Covid-19 pandemic. FILE PHOTO | COURTESY Latest quarterly market report by analysts at AfricanFinancials Group shows that Kenyan banks […]
Equity Bank has secured two grants amounting to Kshs. 5 billion (€39 million) from Proparco to increase lending to Micro Small and Medium Enterprises (MSMEs) in Kenya. Proparco which is the private sector financing arm of Agence Française de Développement Group (AFD Group) has further granted the bank Kshs. 70 million (€550,000) technical assistance grant […]
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