Equity Bank Kenya Limited: Difference between revisions

{{Short description|financialFinancial services provider}}

{{Use dmy dates|date=MayNovember 20132021}}

| founded = {{start date and age |1984}}

| key_people = '''Isaac{{unbulleted list|[[Ambassador|Amb]]. Erastus J.O. Macharia'''Mwencha<br />([[Chairman]]''')|[[James Mwangi]]'''<br />([[CEOChief Executive Officer]]).<ref name="2R">{{cite web| access-date|title=20Ambassador SeptemberErastus 2018J |date=20O SeptemberMwencha is Appointed Board Chairman of Equity Bank (Kenya) 2018Ltd |url=https://www.businessdailyafricaequitygroupholdings.com/corporateke/companiesnewsroom/Equity24-Bankpress-namesrelease/87-Polycarpambassador-Igatheerastus-MDj-Kenya/4003102o-4769484mwencha-322n8uz/index.htmlis-appointed-board-chairman-of-equity-bank-kenya-ltd |titleaccess-date=Equity6 namesSeptember Polycarp Igathe MD for Kenyan operations |first=Victor |last=Juma |newspaper=[[Business Daily Africa]] | location=Nairobi2021}}</ref>}}

| products = [[LoansLoan]]s, [[Mortgages]] Investments, [[Debit Cards]], [[Credit Cardscard]]s

| revenue = {{profit}}: profit Aftertax: US$469308.5232 million (KES:5133.69 billion) (2021)<ref>{{cite web|firsturl=http://equitybankgroup.com/index.php/investor-relations/financial-results|lasttitle=EBGAudited December 2013 Annual Report|date=March 2014|access-date=23 November 2014|publisher=[[Equity Bank Group]] (EBG)}}</ref>

| location_cityhq_location = 9th Floor, Equity Centre<br />Hospital Road, [[Upper Hill, Nairobi|Upper Hill]]<br />[[Nairobi]], [[Kenya]]

'''Equity Bank Kenya Limited''' is a Kenyan [[bank]] and financial services provider headquartered in [[Nairobi]], providing [[Kenyaretail banking]] and [[commercial banking]] services. ItThe bank is licensed as a [[commercial bank]] by the [[Central Bank of Kenya]], which is the [[central bank]] and national banking regulator of Kenya.<ref>{{cite web

}}</ref> In 2010 the bank introduced the [[Agency banking model]],<ref>{{cite news|url=http://www.businessdailyafrica.com/539546-1087220-epl15xz/index.html |title=New agency banking system deepens access to financial services |work=Business Daily|access-date=2017-08-23|language=en-UK}}</ref> which has proved a success<ref>{{Cite web|url=http://bankelele.blogspot.co.ke/2015/11/equity-bank-30-agency-banking-equitel.html?m=1|title=Equity Bank 3.0: Agency Banking & Equitel|website=bankelele.blogspot.co.ke|date=16 November 2015 |access-date=2017-08-23}}</ref> {{clarify|date=December 2020 |reason= }} and is regulated by [[Central Bank of Kenya]] Prudential guidelines.<ref>{{Cite news|url=https://www.centralbank.go.ke/policy-procedures/legislation-and-guidelines/|title=Legislation and Guidelines -– CBK|work=CBK|access-date=2017-08-23|language=en-US}}</ref>

|title=Circular To Shareholders for The Transfer of The Kenyan Banking Business Toto Aa Newly Created, Wholly Owned Subsidiary

|publisher=[[Equity Bank Group]] (EBG)

On October 31, October 2014, Equity Bank announced its intention to incorporate a new, wholly owned subsidiary Equity Bank Kenya Limited, to which it would transfer its Kenyan banking business, assets and liabilities. By converting Equity Group Holdings Limited into a non-trading holding company (as defined under the Banking Act) that owns both banking and non-banking subsidiary companies and provides strategic, brand, risk and personnel management to its subsidiaries, the group would be better able to invest and develop the businesses.<ref name=":0" />

During an extraordinary [[shareholder]]s general meeting held on November 24, November 2014, it was resolved to restructure the firm, leading to the formation of Equity Bank Kenya Limited.<ref>{{cite web|access-date=20 September 2018 |date=31 October 2014 | url=https://www.capitalfm.co.ke/business/2014/10/equity-bank-restructuring-to-form-new-holding-company/ |title=Equity Bank restructuring to form new holding company |first=Margaret | last=Wahito |publisher=[[98.4 Capital FM]] |location=Nairobi}}</ref>

Equity Bank Kenya won the most Socially Responsible Bank of the Year by the African Banker Awards for the year of 2019 and also Bank of the Year in Kenya award by The Banker for the year 2019.<ref>{{cite web |title=Winners Announced for African Banker Awards 2019 {{!}} Les gagnants pour les Trophées African Banker 2019 |url=https://african.business/2019/06/economy/winners-announced-for-african-banker-awards-2019-les-gagnants-pour-les-trophees-african-banker-2019/ |website=African Business |access-date=1 September 2021 |date=13 June 2019}}</ref>

The Equity Bank Kenya Limited is wholly owned by the [[Equity Group Holdings]], which has a customer base in excess of 14 million in six East African countries, making it one of the largest commercial banks on the [[Africa|African continent]] by number of customers.<ref>{{cite web|title=Kenya's Mobile Innovation Brings Digital Money Closer|url=https://www.bbc.com/news/business-28142515|first=Zoe|last=Flood|publisher=[[BBC|BBC News]]|date=3 July 2014|access-date=23 November 2014}}</ref>

[[File:Equity Branch Fourways Branch.jpg|thumb|right|alt=Photo of Equity Branch Fourways Branch in Nairobi, Kenya|Equity Branch Fourways Branch in Nairobi, Kenya]]
Equity Bank maintains a network of 190 branches across Kenya, which includes 52 branches in Nairobi.<ref>{{Cite web|title=Equity Bank Branches {{!}} Equity Bank Branches Kenya {{!}} Branches Equity Bank Kenya|url=http://www.banks-kenya.com/branches-equity-bank-banks-kenya.html|access-date=2021-05-20|website=www.banks-kenya.com}}</ref>

The eight-member board of directors is chaired by ''IsaacAmbassador Macharia'',Erastus oneJ ofO the non-executive directorsMwencha''.[[James Mwangi]]Gerald Warui, serves as the managing director and chief executive officer of the groupbank.<ref>{{cite nameweb |title="2R"Equity Appoints Veteran Insider for Managing Director Position {{!}} Equity Group Holdings |url=https://equitygroupholdings.com/equity-appoints-veteran-insider-for-managing-director-position/ |access-date=6 September 2021 |language=en}}</ref>

{{reflist|30em}}