The value of transactions on Equity Bank’s digital platform in the nine months to September surpassed those conducted at the physical branches for the first time ever, driven by deepened customer shift to cashless transactions in the wake of Covid-19. Data by the lender shows that the value of transactions on its digital platforms such […]
Equity Bank CEO and Kenya COVID-19 Health Committee Chair Dr. James Mwangi. [Wilberforce Okwiri] Earnings fell 14 per cent on bad loans as Covid-19 negatively impacted the lender’s business. Equity Group has posted a 14 per cent drop in profit after tax for the third quarter of 2020. The bank reported profit of Sh14.8 billion […]
Equity Bank headquarters. FILE PHOTO | NMG Equity Bank’s borrowed funds jumped 19.7 per cent to Sh68.5 billion over the three months to September as development finance institutions began disbursing cash for onward lending to small businesses. The bank had received commitments from the World Bank’s private-sector lending arm, International Finance Corporation (IFC) and Agence […]
Times Tower Building in Nairobi which hosts Kenya Revenue Offices. [File, Standard] Equity Bank’s parent company, Equity Group Holdings Ltd (EGHL), is embroiled in a Sh800 million tax dispute with the taxman. The Kenya Revenue Authority (KRA) is demanding the money as capital gains tax from asset transfers by the lender in 2014. Read More […]
Equity Bank Customers at the headquarters on October 5, 2020. / Dan Nsengiyumva Equity Group has reported a 30% growth in its loan book as at 30th September 2020. While releasing the results for Q3 2020, Dr. James Mwangi, Group Managing Director and CEO said, “We grew our loan book by 30% year on year […]
Equity Group has reported a 30% growth in its loan book as at 30th September 2020. While releasing the results for Q3 2020, Dr. James Mwangi, Group Managing Director and CEO said, "We grew our loan book by 30% year on year in order to support our customers who saw opportunities of green shoots and […]
Bidco Africa Chairman Vimal Shah and Tusker Mattresses Group CEO Dan Githua at Tuskys T-Mall The majority of the outstanding debt, Ksh.2.5 billion is owned to DTB and relates to numerous facilities including a term loan, overdraft facility, letters of credit & guarantee, higher purchase facilities and insurance premium facilities (IPF). According to the projected […]
Kenya has for the first time since independence cleared direct loans owed to the United Kingdom, its former colonial master that has recently shifted how it lends to developing countries. Data from the Treasury indicates that Kenya does not owe Britain as of June compared to a debt of Sh35 million in May and Sh1.4 […]
Equity Bank’s Chief Executive Officer James Mwangi is seen during a Reuters interview in Nairobi NAIROBI (Reuters) – Kenya’s Equity Group’s acquisition of Congo’s Banqué Commerciale du Congo will help it grow its balance sheet to 1 trillion shillings ($9 billion) by the end of 2020 and diversify into a regional bank, chief executive James […]
Equity Bank has released its Q3 financials, ended on 30 September 2020. According to the report, which was presented by its CEO James Mwangi, the lender registered a 30 percent jump in its loan book from KES 348.9b to KES 453.9b from September 2019 to September 2020. Over the quarter under analysis, the bank saw […]
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