Equity Named Biggest Lender in Kenya

Equity Bank has been named the most stable lender in Kenya by the prestigious Africa Business Magazine. This is both in terms of revenue and asset growth as the bank hit over Sh1 trillion in asset value making them the first bank to reach such margins in East and Central Africa.  This is after it finalized the acquisition of BCDC (Banque Commerciale du Congo) back in 2020.

The rankings based on the 2020 end year financial results show that Equity’s total assets are valued at Sh1.015 trillion, followed by KCB Group at Sh987.8 billion. NCBA Bank ranks third with Sh527.6 billion followed by Co-op Bank at Sh464.5 billion. Equity Bank also emerged top among the top eight lenders in the country in terms of net loan growth which rose to 13%, as compared to KCB’s 10%, Absa’s 7%, and Co-op Bank at 6%.

The bank also recorded the highest revenue growth among tier 1 banks in Kenya at 16%, followed by Co-operative banks at 10%. NCBA Bank had revenue growth of 6%, KCB five percent while DTB and Absa Group reported 1%.

Being ranked the most valuable money lending company will enable the company to raise more capital, especially from the international markets, win more customer mandates, and signal to the management that they have the right strategies in place.

By Fatiha Shabir