Browsing: Equity Group CEO

• 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 …

Regional bank Equity Group Holdings has announced a 98 percent growth in half year profits to Sh17.9 billion up from Sh9.1 billion registered the previous year.

The Group’s Managing Director and CEO Dr James Mwangi said attributed improved performance to the defensive and offensive strategy, which they adopted at the onset of the COVID-19 pandemic.

As such, deposits registered a 51 percent growth to Sh820.3 billion up from Sh543.9 billion, while long term borrowed funds grew by 78 percent to Sh102.3 billion up from Sh57.6 billion.

Net Loans and advances grew by 29 percent to Sh504.8 billion up from Sh391.6 billion, while investment
in Government securities grew by 46 percent to Sh315.5 billion up from Sh216.4 billion resulting in 50 percent
growth in Total Assets to Sh1.12 trillion up from Sh746.5 billion.

The CEO also revealed that the strategy led to a 33 percent growth in topline Total Income to …

Equity Group CEO, Dr James Mwangi joined a league of 14 global CEOs who have committed to champion cross-sector collaboration in the creation of a purpose-first economy.

The letter signed by the participants shows their vision for a new global economy that is more equal, inclusive and sustainable. They are also looking at an economy that is more robust in the face of pandemics, climate change and many other global challenges that the world is facing.

António Guterres, the UN Secretary-General, Henrietta Fore, UNICEF Executive Director and OECD Development Co-operation Director Jorge Moreira da Silva among other people endorsed the CEOs’ open letter.

Among the CEO’s who have joined the movement are the CEO’s of International Chamber of Commerce Mastercard, Interface, Voyager, Danone, DSM, Philips, L’Oréal, Fortune Media, Mahindra, Natura & Co, Ketchum PR and Beiersdorf.

The CEO’s have combined annual revenue of over $100 billion and a combined global …