Equity Bank Market value: Equity Bank has become the first bank in East and Central Africa to achieve the trillion-shilling balance sheet milestone. This has happened after the group moved the Banque Commercial Du Congo (BCDC) to its core banking platform.
The bank has been a tight race with rival kenya Commercial Bank over which lender would hit the Sh. 1 trillion milestone first. This new milestone now lifts the visibility of the financial sector in Eastern Africa significantly to compete favorably with financial institutions in South Africa, West Africa and North Africa for project and development finance.
“We are delighted to witness this milestone that has shattered the psychological barrier of a trillion-shilling balance sheet,” Equity Group cheif executive officer Dr. James Mwangi said.
he added that the benefits to Equity Group customers will be immense. “The bank is also the most capitalized in East and Central Africa with over Sh. 142 billion. Equity banking subsidiaries will now be in a position to leverage the Group’s strength to extend large corporate loans across all the countries where it operates,” he said.
The bank is now set to leverage the corporate banking history and experience of 112 years by BCDC to strengthen its corporate banking value proposition.
“We are excited at the possibilities that Equity Group Holdings brings to our BCDC customers. By becoming part of a large international financial services Group, our customers will enjoy a wider choice of products and services and most importantly, they will immediately be able to access modern technologically driven banking, including a versatile mobile banking experience, international card payment options and merchants, access to a wide range of payment outlets and a broad digital banking footprint,” said Yves Cuypers, BCDC’s Managing Director. Equity Bank Market Value.