Here is Kenya’s best bank in 2019


Equity Bank emerged as the overall best bank in Kenya for the eighth time at this year’s Think Business Banking Awards, with Equity Group Managing Director and CEO James Mwangi scooping the CEO of the Year Award for the third time consecutively.

READ:Why Equity Bank CEO James Mwangi was named Banker of the year, again

Equity Bank bagged 18 awards, garnering the top slots in 12 categories – Best Bank in Tier 1, Best Bank with the lowest charges for individuals, the most customer-centric bank, best bank in mobile banking, best in internet banking, best agency banking, best in product marketing and the best bank in SME banking.

Others are best bank in agriculture and livestock financing, best commercial bank in micro finance, best in CSR, and best lender in digital banking.

The awards validate Equity Bank’s strategy and pursuit of financial inclusion while giving customers freedom, choice and control.

READ ALSO:How Equity’s digital shift has enhanced supreme banking for SMEs

The Nairobi Securities Exchange (NSE) listed lender earlier this month reported Ksh5.9 billion (US$58.3 million)profit for the first quarter of 2019, with the management saying the tier 1 bank in Kenya is eying the Ethiopian market to expand its market share.

READ:Tanzanians default on Equity Bank loans albeit Ksh6.2 billion profit

Equity Bank also emerged first runners-up in three categories;best bank in trade financing, best in retail banking, and best bank in mortgage finance. It was second runners-up in the corporate banking category.

The awards come a few days after Equity Bank was shortlisted for this year’s African Banker Awards, whose winners will be announced at the award ceremony during the African Development Bank (AfDB) annual meetings, taking place next month in Malabo, Equatorial Guinea, reflecting Equity’s brand strength and performance on the continent.

Commenting on the awards, Mwangi noted that the awards were a testament to the bank’s efforts to drive financial inclusion anchored by a strong culture of innovation and self-disruption.

Equity Group CEO James Mwangi speaks at a past event.

“These awards are a validation of the sustained effort and expertise we have put in towards ensuring that as many of our people are able to access banking through the development of technologically-led solutions that will truly benefit the real economy,” he said.

The Think Business Banking Awards have been held annually since 2006. The awards are won on a combination of merits, including financial soundness, opinion polls, market research and professional assessments.

The overall winner, ‘The Best Bank in Kenya’ is usually the bank with an all-round appeal.

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Martin Mwita is a business reporter based in Kenya. He covers equities, capital markets, trade and the East African Cooperation markets.

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