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 […]
DRC Embassy to Kenya Second Secretary Botuli Bosaw Geoffrey, Trade Cabinet Secretary Betty Maina and Equity Group Managing Director and CEO Dr James Mwangi when Kenya announced Kenya – DRC trade mission. [Wilberforce Okwiri, Standard] Local investors venturing into the Democratic Republic of Congo (DRC) have been assured of their safety, even as the government […]
Equity Bank has been named Africa’s best bank for Small and Medium Enterprises (SMEs) in the 2021 Euromoney awards. This distinction further validates Equity as the country’s preferred bank by SMEs. While acknowledging this recognition, Equity Group Managing Director and CEO, Dr. James Mwangi, emphasized that the award reinforced and cements the Bank’s vision, of […]
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 […]
Proparco has given Equity two grants support for Micro, Small and Medium Enterprises (MSMEs) in Kenya The first KSh 2.5 billion ARIZ guarantee will cover 50% of the number of eligible loans allocated by Equity Bank to Kenyan MSMEs The second KSh 2.5 billion EURIZ guarantee will cover up to 70% of loans granted to […]
Equity Centre1 Large Equity is once again named as one of the top banks worldwide. The Kenyan bank has been ranked 39 globally on return on assets, 71 on return of capital, and 149 on soundness based on Capital Assets to Assets ratio. This is according to The Banker magazine for the Top 1000 Banks […]
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 […]
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