Equity Bank Kenya Limited
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| Industry | Banking |
|---|---|
| Founded | 2014 |
| Headquarters | 9th Floor, Equity Centre Hospital Road, Upper Hill Nairobi, Kenya |
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Key people
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Peter Munga Chairman James Mwangi Managing Director & CEO |
| Products | Loans, Mortgages Investments, Debit Cards, Credit Cards |
| Revenue |
 : Aftertax: US$142.72 million (KES:12.64 billion) (2013) |
| Total assets | US$3.21 billion (KES:284.37 billion) (Q3:2014) |
| Parent | Equity Group Holdings Limited |
| Website | Homepage |
Equity Bank Kenya Limited, is a financial services provider headquartered in Nairobi, Kenya. It is licensed as a commercial bank, by the Central Bank of Kenya, the central bank and national banking regulator.In 2010 the entity introduced Agency banking modelwhich has proved a successand still regulated by Central Bank of Kenya Prudential guidelines.
Equity Bank Kenya Limited was incorporated in 2014 as a result of the corporate restructure of Equity Group Holdings Limited. Prior to November 2014, Equity Group Holdings Limited operated both as a licensed bank and a holding company for its subsidiaries.
On October 31, 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. The rationale for the re-organisation is that 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 talent management to its subsidiaries, the Group will be better placed to invest and to develop the existing and new businesses as part of its third phase of growth and transformation.
During an extraordinary shareholders general meeting held on November 24, 2014, it was resolved to adopt the proposed restructure thus leading to the formation of Equity Bank Kenya Limited.
Equity Bank is a wholly owned subsidiary of Equity Group Holdings Limited. Making it a member of the Equity Group Holdings Limited.
The Equity Bank Kenya Limited's parent company, the Equity Group Holdings Limited, has a customer base in excess of 9.2 million in the six East African countries that it serves, making it the largest commercial bank on the African continent, by customer numbers. Equity Group Holdings Limited is a large financial services conglomerate in East Africa, with an asset base estimated at over US$3.83 billion (KES:339.44 billion), and shareholders' equity in excess of US$644.6 million (KES:57.1 billion), as of 30 September 2014. The companies that comprise the Equity Group Holdings Limited include the following:
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