Equity Group has been ranked second best performing brand in the 2024 Brand Finance’s Brand Strength and Brand Value rankings.

The Group climbed from 4th position in last year’s rankings to 2nd position this year, with a Brand Strength Index score of 92.5 out of 100 and an elite AAA+ brand strength rating. This marks a 0.1 points BSI improvement on its 2022 debut ranking.

Equity’s brand value has also risen by USD 22 million (Ksh 2.9 billion) from last year’s brand value of USD 428 million (Ksh 58 billion) to USD 450 million (Ksh 64 billion). This earned it the tenth position in the most valuable banking brand in Africa.

Every year, Brand Finance, a brand valuation consultancy, puts 5,000 of the biggest brands to the test, ranking brands across all sectors and countries. The World’s Top 500 most valuable and strongest banking brands are included in the annual Brand Finance Banking 500 ranking.

Speaking on the ranking, Equity Group Managing Director and CEO, Dr. James Mwangi said, “We are delighted to see that once again we have made a step towards being recognized as the strongest financial brand in the world. The ranking as the 2nd strongest banking brand globally is a testament that our purpose of transforming lives, giving dignity, and expanding opportunities for wealth creation is continuing to prove to be relevant to our customers, industry and stakeholders.”

The Brand Finance Banking 500 report gauges the brand value of the world’s financial institutions through quantitative and qualitative metrics. This is including brand strength, brand loyalty rate and revenue forecasts.

Also commenting on the 2024 rankings, David Haigh, Chairman and CEO Brand Finance noted, “As the world’s top banking brands reach new heights, China’s mega-banks continue to dominate at the top of the brand value ranking. Another key insight from our 2024 data is that local banks increasingly outshine their larger counterparts in brand strength.”