Equity Bank ranks position 7 in the list of top 10 banks in Africa in The Banker’s Top 100 African Banks 2020,becoming the 1st bank in Eastern and Central Africa to achieve this breakthrough paving way for East African banks to play in the league of big African Banks.
Equity Bank had a balance sheet size worth Kshs. 673.7 billion at the end of 2019, scoring an overall of 5.82 points in the category of the best performing banks.
According to the 16th October 2020 report release by The Banker’s Top 100 African Banks ranking for 2020,Equity Bank is said to have shown stabilization in the finances of the majority of African major lenders.
Equity has achieved position 7 following the following key parameters;
on profitability equity bank was ranked 6th
on soundness equity bank was ranked 5th
on growth and performance equity bank was ranked 9th
Equity was ranked 8th on return on risk and 6th on leverage category.
Being the first bank in East Africa to top in The Banker’s Top 100 African Banks , Equity improved on its performance with a 14% profit rate after tax growth to 22.6 billion from Ksh 19.8 billion in 2018.
Commenting on the banks performance, the Managing Director and CEO, James Mwangi said ” The ranking is an indication that Equity remains robust, despite the challenging operating environment. We have developed and adopted a sustainable business model to cushion the business as well as boost value creation for shareholders”
On The Banker Top 1000 World Banks 2020, Equity Bank was ranked position 754.