Equity Bank Kenya Limited

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Equity Bank Kenya Limited
Industry Banking
Headquarters 9th Floor, Equity Centre
Hospital Road, Upper Hill
Nairobi, Kenya
Key people Peter Kahara Munga
Chairman
James Mwangi
Managing Director & CEO
Products Loans, Mortgages Investments, Debit Cards, Credit Cards
Revenue Increase: Aftertax: US$142.72 million (KES:12.64 billion) (2013)[1]
Total assets US$3.21 billion (KES:284.37 billion) (Q3:2014)
Parent Equity Group Holdings Limited
Website Homepage

Equity Bank Kenya Limited, is a financial services provider headquartered in Nairobi, Kenya. It is licensed as a commercial bank, by the Central Bank of Kenya, the central bank and national banking regulator.[2]

History[edit]

Equity Bank Kenya Limited was incorporated in 2014 as a result of the corporate restructure of Equity Bank Group.[3] Prior to November 2014, Equity Bank Group operated both as a licensed bank and a holding company for its subsidiaries.

On October 31, 2014, Equity Bank announced its intention to incorporate a new wholly owned subsidiary, Equity Bank Kenya Limited, to which it would transfer its Kenyan banking business, assets and liabilities. The rationale for the re-organisation is that by converting Equity Bank Group into a non-trading holding company (as defined under the Banking Act) that owns both banking and non-banking subsidiary companies and provides strategic, brand, risk and talent management to its subsidiaries, the Group will be better placed to invest and to develop the existing and new businesses as part of its third phase of growth and transformation.[3]

During an extra-ordinary shareholders general meeting held on November 24, 2014, it was resolved to adopt the proposed restructure thus leading to the formation of Equity Bank Kenya Limited.[4]

Ownership[edit]

Equity Bank is a wholly owned subsidiary of Equity Bank Group. Making it a member of the Equity Bank Group.

Equity Group Holdings Limited[edit]

The Equity Bank Kenya Limited's parent company, the Equity Group Holdings Limited, has a customer base in excess of 9.2 million in the six East Arican countries that it serves, making it the largest commercial bank on the African continent, by customer numbers.[5] Equity Bank Group is a large financial services conglomerate in East Africa, with an asset base estimated at over US$3.83 billion (KES:339.44 billion), and shareholders' equity in excess of US$644.6 million (KES:57.1 billion), as of 30 September 2014.[6] The companies that comprise the Equity Bank Group include the following:

  1. Equity Bank Kenya LimitedNairobi, Kenya Kenya
  2. Equity Bank Rwanda LimitedKigali, Rwanda Rwanda
  3. Equity Bank South Sudan LimitedJuba, South Sudan South Sudan
  4. Equity Bank Tanzania LimitedDar es Salaam, Tanzania Tanzania
  5. Equity Bank Uganda LimitedKampala, Uganda Uganda
  6. Equity Consulting Group Limited – Nairobi, Kenya Kenya
  7. Equity Insurance Agency Limited – Nairobi, Kenya Kenya
  8. Equity Nominees Limited – Nairobi, Kenya Kenya
  9. Equity Investment Services Limited – Nairobi, Kenya Kenya
  10. Finserve Africa LimitedNairobi, Kenya Kenya
  11. Equity Group Foundation – Nairobi, Kenya Kenya


Shares of the stock of Equity Group Holdings Limited, the parent company of Equity Bank, are listed on the Nairobi Stock Exchange (NSE), under the symbol EQTY. The Group's stock is also cross-listed on the Uganda Securities Exchange (USE), under the symbol EBL.

Branch network[edit]

Equity Bank maintains a network of 135 branches across Kenya, which includes 38 branches in Nairobi.

Governance[edit]

The thirteen-member board of directors is chaired by Peter Munga, one of the non-executive directors. James Mwangi, serves as the managing director and chief executive officer of the bank.[7]

See also[edit]

References[edit]

External links[edit]