Equity Group chief executive officer James Mwangi. FILE PHOTO | NMG Equity Group net profit for the full-year to December 31 doubled to Sh40.07 billion driven by huge cuts in loan loss provision which the lender reduced from Sh26.6 billion in 2020 to Sh5.8 billion last year. Strong loan recovery allowed the bank to claw […]
Equity bank has been honoured with two awards by Visa for leading in Visa generated volumes in 2021. The bank won the Visa Top Acquiring Award as well as the Visa E-Commerce (Acquiring) Award. Equity was also recognized for leading in eCommerce payment volumes which is attributed to a significant growth of its E-commerce volumes. […]
Equity Group CEO James Mwangi (C), Director Strategy Brent Malahay and Chief Commercial Officer Polycarp Igathe. [Wilberforce Okwiri, Standard] Equity Bank has received the Central Bank of Kenya (CBK) approval to charge customers a maximum of 18.5 per cent on loans under its risk-based pricing model. Group Chief Executive James Mwangi yesterday said the risk-based […]
View of an Equity Bank branch. © Edward Echwalu for Jeune Afrique Equity Bank, which is East Africa’s largest banking group and led by James Mwangi, is planning extensive assistance to boost the private sector in its six countries of operation. Through its Regional Private Sector Economic Recovery and Resilience Stimulus Plan, Equity Group intends […]
Co-operative bank managing director Gideon Muriuki during the release of the Bank Q3 financial report in Nairobi. The post-Covid-19 economic recovery led to high credit demand pushing up Cooperative Bank Group’s net earnings for the year ended December 31, 2021, by 52.7 per cent. The bank’s financial results released Thursday shows it reported a profit […]
Naivas Supermarket has opened a new branch in Syokimau as it continues with its national expansion. The outlet, called Naivas-Katani, opens its doors on Friday targeting thousands of shoppers in the region that has attracted a significant number of middle-class residents. This is the retailer’s third store along Mombasa road and the 82nd branch countrywide. […]
Equity Bank Uganda and the Bunyoro Kitara Kingdom have signed a Memorandum of Understanding, to facilitate and strengthen collaboration between the two entities in the areas of enterprise development and financial inclusion, energy, and environment, food and agriculture, education, health, and oil and gas. The signing ceremony took place at the kingdom headquarters in Hoima. […]
A KCB banking hall in Rwanda. Many Kenyans may not have heard of Gisenyi, the Rwandan town on the DR Congo border. The one across in DRC is Goma — now everybody has heard of it, if only for its volcano eruptions. The border point between the two countries, on the Rwandan side, is called […]
Governor Patrick Njoroge of the Central Bank of Kenya The CBK’s approvals are coming after many lenders petitioned the IMF to intervene. With these approvals, lenders will now increase cost of loans for some high risk borrowers. A borrower is considered "high risk" when a lender considers them most likely to default on a loan. […]
Equity Bank branch on Muindi Mbingu Street in Nairobi on Thursday, April 1, 2021. PHOTO | DENNIS ONSONGO | NMG Equity Group has unveiled a Sh684 billion ($6 billion) war chest to lend to five million businesses in its Africa Covid-19 pandemic recovery and resilience plan. The lender says it has internal capacity to lend […]
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