Equity Bank (Kenya) Limited Announces New Appointment
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- August 16, 2024
Equity Bank (Kenya) Limited, a subsidiary of Equity Group Holdings Plc, is one of the leading banks in Kenya. Equity Group Holdings Plc. is a Pan-African financial services holding company listed on the Nairobi Securities Exchange and cross-listed on Uganda Securities Exchange and Rwanda Stock Exchange. The Group has other banking subsidiaries in DRC, Rwanda, Uganda, Tanzania, South Sudan, and a Commercial Representative Office in Ethiopia. The Group’s other operations include commercial and investment banking, insurance, telecom, fintech and social impact investments. Equity Group is the largest integrated financial services firm in the region with a market capitalization of Kshs 152.8 billion (USD 1.38 Billion) as of 16th August 2024 and it is Sub-Sahara Africa’s most valuable financial brand in market capitalization.
As at 30 June 2024, the Group had an asset base of Kshs 1.746 billion (USD 13.51 Billion), customer deposits of Kshs 1.299.5 billion, a customer base of 20.7 million and a distribution network of 403 branches, 84,398 Agents, over 1.1 million Pay with Equity (PWE) merchants, 37,755 Point-of-Sale (POS) Merchants, 873 ATMs in addition to digital banking channels. The Group’s strong brand recognition, solid liquidity buffers and resilient funding profile, established regional franchise and extensive adoption of digital and alternative distribution channels have earned it recognition as the second strongest financial Brand on Earth in 2024 by Brand Finance.
In our effort to empower our customers, businesses, and communities, we have continued to develop innovative products and services that bring convenience and enable our customers to achieve their dreams. We are committed to strong governance practices, and we are investing in systems, processes and people to strengthen the internal control environment to match our global brand. We have been recognized as the most valuable brand in Kenya, Africa’s most admired financial brand and the second strongest banking brand in the world 2024.
The Board has today appointed Mr. Moses Okoth Nyabanda, Equity Group Holdings Plc’s Group Chief Finance & Strategy Execution Officer as the Acting Managing Director of Equity Bank Kenya, subject to Central Bank of Kenya approval, and accepted Mr. Gerald Warui’s request for early retirement. The Bank wishes to thank Mr. Warui for his long and dedicated service to the Group which included heading operations, customer service, HR and finally, Equity Bank Kenya as Managing Director.
Before joining Equity Group, Mr. Nyabanda was the Managing Director and Country Senior Partner for PricewaterhouseCoopers (PwC) in Rwanda and a member of PwC Eastern Africa leadership team. He has a proven track record of leading effective teams, strategic planning, driving business growth and delivering impactful solutions to businesses and governments in Kenya, Rwanda, Uganda, and the United Kingdom. While at PwC, he was responsible for driving operational efficiency including resource planning, digital transformation, innovation, and cost management at PwC Eastern Africa. At Equity Group, Mr. Nyabanda is a key member of the executive team who has demonstrated commitment to the Group’s corporate philosophies and customer value creation. Throughout his career, Mr. Nyabanda has distinguished himself as a disciplined and thorough professional, demonstrating exceptional leadership in promoting robust control environments and productivity.
The Board is confident that under Mr. Nyabanda’s leadership, Equity Bank Kenya will continue to deliver sustainable profitable growth, while enhancing our customer value proposition and employee engagement.
