Awards for Excellence 2016
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This year’s winner of best bank in Africa is the first east African bank to be awarded that distinction, Kenya’s Equity Bank, led by James Mwangi. While present in relatively few markets compared with pan-African giants such as Ecobank, the institution has repeatedly demonstrated that it is a role model for how banking should be done on the continent.
In its home market it is a dominant force in both SME financing and digital banking – the two most-important areas of banking in Africa today.
Despite the challenging economic environment in 2015, the bank registered a pre-tax profit of KSh22.4 billion ($222 million), up from KSh20.1 billion in 2014.
The bank’s strategic focus on SMEs led to a 19% increase in non-funded income to KSh21.9 billion. The SME strategy also drove the loan book and deposit growth. The loan book grew by 26% to KSh269.9 billion. This resulted in interest income growth of 23% to KSh43.5 billion. Deposits grew by 23% to KSh302.2 billion, resulting in interest expense growth of 51% to KSh9.3