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    Reed Hastings steps down as Netflix CEO

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    High Court orders suspension of bank to MPesa charges

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    Government announces plan to manufacture smartphones for under KES 5,000 by year-end

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    Safaricom’s Fuliza subscribers can now withdraw their limit at MPesa agent shops

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    Microsoft exploring integration of OpenAI’s GPT technology into Office apps

    YouTube to allow creators to monetize Shorts content starting February 1

    YouTube to allow creators to monetize Shorts content starting February 1

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    Safaricom launches 5G Wi-Fi service, starts at KES 3,499

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    PayPal threatens users with a $2,500 fee for disinformation, instantly retracts after uproar

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    Apple unveils 14-inch and 16-inch MacBook Pro with M2 Pro and M2 Max chips

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    Complete list of Macs that will run macOS Ventura

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    Apple unleashes new MacBook Pros with powerful chips, more ports and a notch

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    Laptop buying mistakes you should avoid

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    Lenovo X1 Carbon 5th Generation Review: just good enough

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    TECNO launches PHANTOM X2 Series with retractable portrait lens in Kenya

    TECNO launches PHANTOM X2 Series with retractable portrait lens in Kenya

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    Samsung’s first 2023 Galaxy A series phone comes with 5G, and it’s cheap

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    Tecno announces Eliud Kipchoge as brand ambassador for PHANTOM X2 Series

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    TECNO Mobile opens pre-orders for Phantom X2 smartphone series in Kenya

    Xiaomi Redmi A1+: Best budget smartphone in 2022?

    Xiaomi Redmi A1+: Best budget smartphone in 2022?

    Tecno Camon 19 Pro Mondrian Edition launches in Kenya for KES 35,000

    Tecno Camon 19 Pro Mondrian Edition launches in Kenya for KES 35,000

    All you need to know about the new iPhone 14 lineup

    All you need to know about the new iPhone 14 lineup

    Xiaomi 12S Series flagship features a huge 1-inch sensor

    Xiaomi 12S Series flagship features a huge 1-inch sensor

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    Samsung’s Freestyle Projector now available to purchase in Kenya

    Samsung’s Freestyle Projector now available to purchase in Kenya

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    Samsung Galaxy Z Flip 3 does over 418,000 folds in test

    Samsung Galaxy Z Flip 3 does over 418,000 folds in test

    Jumia marks its 10th anniversary, selling motorcycles for Sh10

    Jumia marks its 10th anniversary, selling motorcycles for Sh10

    Best portable Bluetooth Speakers you can get right now in Kenya

    Best portable Bluetooth Speakers you can get right now in Kenya

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    My six social media predictions for 2023

    Blue, Gold and Grey: Twitter starts rolling out distinct verification marks

    Blue, Gold and Grey: Twitter starts rolling out distinct verification marks

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    Twitter is planning to start charging $20 a month for verification

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    YouTube to introduce handles for users to identify themselves

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    Reed Hastings steps down as Netflix CEO

    Reed Hastings steps down as Netflix CEO

    Apple unveils new Mac Mini with M2 and M2 Pro for enhanced performance

    Apple unveils new Mac Mini with M2 and M2 Pro for enhanced performance

    High Court orders suspension of bank to MPesa charges

    High Court orders suspension of bank to MPesa charges

    Government announces plan to manufacture smartphones for under KES 5,000 by year-end

    Government announces plan to manufacture smartphones for under KES 5,000 by year-end

    Safaricom’s Fuliza subscribers can now withdraw their limit at MPesa agent shops

    Safaricom’s Fuliza subscribers can now withdraw their limit at MPesa agent shops

    Microsoft exploring integration of OpenAI’s GPT technology into Office apps

    Microsoft exploring integration of OpenAI’s GPT technology into Office apps

    YouTube to allow creators to monetize Shorts content starting February 1

    YouTube to allow creators to monetize Shorts content starting February 1

    Safaricom launches 5G Wi-Fi service, starts at KES 3,499

    Safaricom launches 5G Wi-Fi service, starts at KES 3,499

    PayPal threatens users with a $2,500 fee for disinformation, instantly retracts after uproar

    PayPal threatens users with a $2,500 fee for disinformation, instantly retracts after uproar

  • Laptops
    Apple unveils 14-inch and 16-inch MacBook Pro with M2 Pro and M2 Max chips

    Apple unveils 14-inch and 16-inch MacBook Pro with M2 Pro and M2 Max chips

    Complete list of Macs that will run macOS Ventura

    Complete list of Macs that will run macOS Ventura

    Apple unleashes new MacBook Pros with powerful chips, more ports and a notch

    Apple unleashes new MacBook Pros with powerful chips, more ports and a notch

    Laptop buying mistakes you should avoid

    Laptop buying mistakes you should avoid

    Lenovo X1 Carbon 5th Generation Review: just good enough

    Lenovo X1 Carbon 5th Generation Review: just good enough

  • Smartphones
    TECNO launches PHANTOM X2 Series with retractable portrait lens in Kenya

    TECNO launches PHANTOM X2 Series with retractable portrait lens in Kenya

    Samsung’s first 2023 Galaxy A series phone comes with 5G, and it’s cheap

    Samsung’s first 2023 Galaxy A series phone comes with 5G, and it’s cheap

    Tecno announces Eliud Kipchoge as brand ambassador for PHANTOM X2 Series

    Tecno announces Eliud Kipchoge as brand ambassador for PHANTOM X2 Series

    TECNO Mobile opens pre-orders for Phantom X2 smartphone series in Kenya

    TECNO Mobile opens pre-orders for Phantom X2 smartphone series in Kenya

    Xiaomi Redmi A1+: Best budget smartphone in 2022?

    Xiaomi Redmi A1+: Best budget smartphone in 2022?

    Tecno Camon 19 Pro Mondrian Edition launches in Kenya for KES 35,000

    Tecno Camon 19 Pro Mondrian Edition launches in Kenya for KES 35,000

    All you need to know about the new iPhone 14 lineup

    All you need to know about the new iPhone 14 lineup

    Xiaomi 12S Series flagship features a huge 1-inch sensor

    Xiaomi 12S Series flagship features a huge 1-inch sensor

    Infinix is bringing 180W wired fast charging speeds to its next flagship phones in 2022

    Infinix is bringing 180W wired fast charging speeds to its next flagship phones in 2022

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    How to write prompts for Midjourney, from text to image

    How to write prompts for Midjourney, from text to image

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    How to use ChatGPT and get the most out of it

    How to make and upload YouTube Shorts with ease

    How to make and upload YouTube Shorts with ease

    How to watch YouTube without ads on Android TV

    How to watch YouTube without ads on Android TV

    Samsung’s Freestyle Projector now available to purchase in Kenya

    Samsung’s Freestyle Projector now available to purchase in Kenya

    How to change your Zoom background

    How to change your Zoom background

    Samsung Galaxy Z Flip 3 does over 418,000 folds in test

    Samsung Galaxy Z Flip 3 does over 418,000 folds in test

    Jumia marks its 10th anniversary, selling motorcycles for Sh10

    Jumia marks its 10th anniversary, selling motorcycles for Sh10

    Best portable Bluetooth Speakers you can get right now in Kenya

    Best portable Bluetooth Speakers you can get right now in Kenya

  • Social Media
    My six social media predictions for 2023

    My six social media predictions for 2023

    Blue, Gold and Grey: Twitter starts rolling out distinct verification marks

    Blue, Gold and Grey: Twitter starts rolling out distinct verification marks

    Twitter is planning to start charging $20 a month for verification

    Twitter is planning to start charging $20 a month for verification

    YouTube to introduce handles for users to identify themselves

    YouTube to introduce handles for users to identify themselves

    Twitter starts rolling out editable tweets

    Twitter starts rolling out editable tweets

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    YouTube will now allow creators to monetize their videos with licensed music

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Equity listed among the top 1,000 banks in the world

Brian Murimi by Brian Murimi
November 4, 2021
in News
Reading Time: 4 mins read
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Equity listed among the top 1,000 banks in the world
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Equity has been named among the global banking behemoths once again. In The Banker magazine’s Top 1,000 World Banks 2021, the Kenyan institution was ranked 39th in terms of return on assets, 71st in terms of return on capital, and 149th in terms of soundness (Capital Assets to Assets ratio).

This rating is based on an examination of banks in eight areas: growth, profitability, operational efficiency, asset quality, return on risk, liquidity, soundness, and leverage, to name a few. With a Tier 1 capital base of USD 1,096 million, Equity was placed 22nd in Africa and 761st globally.

The COVID-19 pandemic, which shut down major sectors of the local economy, contributed to Equity’s outstanding achievement in the rankings. The bank makes major efforts in protecting communities and stakeholders, putting people and lives before of profits. It provided PPEs to health personnel at 56 county and national hospitals, as well as 60 faith-based facilities, in collaboration with the Kenya COVID-19 Emergency Board. In addition, the lender helped 17,800 Wings to Fly and Elimu Scholars deal with the extended school closure.

Equity Group Managing Director and CEO Dr. James Mwangi commented on the ranking, saying that it shows the company’s resilience in the face of a difficult operating climate.

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“These global rankings are truly an affirmation befitting the financial strength and professionalism of the Bank, as well as the measures we took in our response to the COVID-19 pandemic. We strengthened our capital buffers by retaining profits and withholding dividend payouts, took long-term loan facilities that strengthened our liquidity buffers, supported host communities and our clients to mitigate the impact of the crisis on them by waiving fees and rescheduling their loans to match loan repayments to new cashflow patterns,” Dr. James Mwangi, Equity Group Managing Director and CEO said.

Equity Group, which has operations in six countries, was able to weather the COVID-19 interruption and increase its half-year Profits After Tax to Kshs.17.9 billion in 2021, up from Kshs.9.1 billion the previous year. The Group, which is the region’s largest bank by assets, also recorded an increase in total assets to Kshs. 1.12 trillion, up from Kshs. 746.5 billion the year before. Customer deposits increased by 51% to Kshs. 820.3 billion in the same time, maintaining the lender’s position as the largest bank in terms of deposits, market capitalization, and customer base, with over 15 million customers.

For more than 50 years, the Banker’s worldwide and regional rankings have been industry-standard indicators of financial institution performance. Tier 1 capital, a crucial metric of banking strength, is used to rank the largest banks in The Banker’s Top 1,000 World Banks. Furthermore, they examine over 120 data points tracked by The Banker Database year after year. The rating is a great tool for comparing banks and gaining a better picture of the global banking industry’s health and wealth.

Tags: BankingCEOEquityFinanceJames Mwangi
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Brian Murimi

Brian Murimi

Brian is the founding geek at the Netick. A tech enthusiast skilled in journalism, media relations, multi-platform broadcasting, and social media. Write to him via bryanmurimi@gmail.com

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