Equity Bank CEO James Mwangi (R) during the release of 2020 Financial Results Equity Bank and NCBA have recorded reduced profits for the financial year ending December last year, one that was disrupted by the Covid-19 pandemic. The two leaders announced their financial results yesterday, with Equity recording a net profit of Sh20.1 billion for […]
Equity Centre in Nairobi upperhill. FILE PHOTO | NMG Equity Bank has overtaken KCB Group as Kenya’s most profitable lender on back of aggressive expansion of foreign subsidiaries in a year when earnings plunged due to Covid-19 pandemic. Equity Bank net profit dropped 11 per cent to Sh19.7 billion, racing ahead of KCB whose earnings […]
Deal activity remains lively as this year’s Best Equity Banks lean on tech to keep capital flowing. There is no shortage of financing and deal-making in equity capital markets moving into 2021. In fact, four out of the top five equity capital market sectors—technology, health care, finance and telecommunications—beat their 2019 numbers last year, according […]
Despite Covid-19, 2020 was a banner year for investment banking, with IPOs and bond issues standing out. Our headline for last year’s ranking of the World’s Best Investment Banks was “Epidemic Threatens Growth.” The pandemic had just begun. This year’s winners faced a once-in-a-century event and still maintained operations and market position while managing to […]
Equity Bank has been ranked as the most stable lender in Kenya both in terms of revenue and asset growth by the prestigious Africa Business Magazine. The ranking based on the 2020 end year financial results acknowledged the lender’s asset growth which hit over Sh1 trillion, becoming the first bank to reach such margins in […]
Equity Bank CEO James Mwangi (R) during the release of 2020 Financial Results Equity Bank and NCBA have recorded reduced profits for the financial year ending December last year, one that was disrupted by the Covid-19 pandemic. The two leaders announced their financial results yesterday, with Equity recording a net profit of Sh20.1 billion for […]
•It reported 12% drop in net earnings for the year ended December 31, 2020 •The lender trounced KCB to become biggest in Kenya in terms of asset value and first in the region to cross Sh1 trillion mark Equity Bank Group’s move to hold dividends for the second year running on lower profits saw its […]
James Mwangi, Equity Group CEO (PHOTO: FILE) Equity Group Holdings (EGH) has signed a USD 100 million loan (Sh11 billion) facility to support its expansion across Eastern and Central Africa, enhancing its ability to serve small and medium enterprises (SMEs) as it grows. In addition to operating in seven African countries – Kenya, Rwanda, Uganda, […]
Investors at the Equity Bank Group will walk home empty handed for the second year running after the lender withheld dividends on shrinking net earnings. The lender joined other tier top commercial banks in the country to announce a drop in 2020 year results on high loan loss provision due to Covid-19 economic pressures that […]
Equity Bank and NCBA are the latest top tier banks to report double digit drops in profitability for the year ended December 2020, as lenders are hit hard by huge provisions for bad loans triggered by the Covid-19 pandemic. The two now join Absa Bank, Co-operative and KCB in the list of big banks who […]
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