Equity Bank has been named the Best Regional Bank in East Africa at the 2021 African Banker Awards. The award was conferred to Equity for its consistent financial performance, its role in leading the disruption of Fintech innovations in banking and for its efforts in championing the socio-economic development of communities.
Equity was nominated in two additional award categories including the nomination of Group MD and CEO Dr. James Mwangi as the African Banker of the Year. The bank was also nominated for the Best Bank in Financial Inclusion Award category for its role in delivering financial products and services to all in society including those at the bottom of the pyramid.
The Bank was cited for its contribution in providing financial services and its active role in driving economic growth in thee larger East African region. Despite the challenges posed by the pandemic, Equity demonstrated strong and consistent financial performances in all of its subsidiary countries with improvements in revenue, profits, capital, assets and market share.
The Bank demonstrated relentless dedication to its customers throughout the pandemic by supporting sectors that have traditionally been marginalized, which include youth, SMEs, and women-led businesses.
Commenting on the award, Equity Group Managing Director and CEO, Dr. James Mwangi stated, “We are honoured and humbled to receive this recognition. We purposed to walk and support our customers, staff, and host communities during the COVID-19 pandemic. Our operations in the 6 East and Central African countries that we operate in have been standardized to reflect the One Equity brand, providing inclusive financial services and cementing our positioning as a local bank with a strong regional presence.”
Omar Ben Yedder, Group Publisher of African Banker said, “I was really impressed by the entries this year. It showed that the banking sector is healthy and resilient, which will be critical if it is to support the economic recovery post-COVID-19. What will be fundamental to our recovery is the support of the real economy, especially SMEs, and also a focus on more equity investments and investments in general.”
The Africa Banker Awards is an industry event celebrating African banking achievements. The organizers this year recognized and rewarded institutions that contributed to the real economy, which has suffered from the impact of COVID-19 as well as contributed to the financial empowerment of women in the continent.