Browsing: Chief Executive James Mwangi

Equity Group has reported a 36% growth in its after-tax profit to hit KSh 24.4 billion principally driven by the growth of loans to customers

Equity’s James Mwangi recognized among 100 meaningful business leaders globally

Banking
  • James Mwangi is among 100 global leaders selected by Ernst & Young’s Meaningful Business 100 (MB 100) 2021
  • Mwangi was selected under the financial services category, for championing initiatives that address the 17 SDGs and specifically focusing on alleviating poverty and inequality
  • The 2021 nominees included corporate CEOs, entrepreneurs, sustainability leaders and impact investors

Equity Group Managing Director and CEO, Dr. James Mwangi is among 100 global leaders selected by Ernst & Young’s Meaningful Business 100 (MB 100) 2021.

The third edition of the awards hailed leaders for their role in tackling the world’s most pressing issues and for fostering the achievement of the UN Global Goals.

Dr. James Mwangi was selected under the financial services category, for championing initiatives that address the 17 SDGs and specifically focusing on alleviating poverty and inequality at the bottom of the socio-economic pyramid.

This has been realized through his vision and through his …

Equity Mwangi performance

Equity Group continues to defy pandemic as net profit climbs by 79%

Banking
  • Equity Group has reported a 79% growth in profit after tax for the third quarter of the year to KSh 26.9 billion
  • Mwangi said the performance was against a background of the COVID-19 pandemic and its consequent disruption of global economic activities with the resultant social disruptions

Regional banker Equity Group has reported a 79% growth in profit after tax for the third quarter of the year to KSh 26.9 billion.

The group’s Chief Executive James Mwangi said the performance was against a background of the COVID-19 pandemic and its consequent disruption of global economic activities with the resultant social disruptions.

He added that the bank had demonstrated a resilient, versatile business model, leadership agility, innovation and diversification capability and strength of strategy to report a 27% growth in total assets and a 25% growth in total income.

At the same time, the group’s resilience in the execution of an …

Q1, 2020 The Best of Five - An Analysis

Equity Group raises its loan loss provision by ten fold to Sh 3 billion

Business

Equity Group Holdings Plc has posted a 14 percent decline in net profit in the first three months of the year to hit Sh5.3 billion, attributable to increasing its loan loss provision by ten fold to Sh3 billion from Sh300 million the previous year.

Profit before provisions was up by 10 percent to Sh10 billion from Sh9.1 billion the previous year.

“The global Covid-19 pandemic has mutated into a global economic crisis, occasioned by a sudden standstill of economic activity as a result of the global lockdown. This has introduced unprecedented uncertainty within the global financial systems prompting us to adopt a conservative approach – fortifying our balance sheet and assuring ample liquidity to support our customers,” James Mwangi Group MD and CEO said.

The Group’s total assets went up by 14 percent year on year growth to Sh693.2 billion from Sh605.7 billion driven by a 17 percent growth in

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