Equity Bank has been listed among top 1000 banks in the word by the Banker Magazine at position 799 globally with $848 Million in Tier 1 capital and in 1st position among local banks.
The lender was also ranked number 11 on Return on Assets, 35th on soundness based on Capital Assets Ratio, 44th based on Profits on Capital globally while its ranking in Kenya was based on Return on Assets and Capital Assets Ratio and 14.63% increase in Tier 1 capital YOY.
The report by the Banker says, ‘’Africa’s economic fortunes improved over the 2017 review period following a difficult couple of years in which lower commodity prices hit the performance of the Africa continents’ largest markets.’’
The Bankers report helps track bank performance, identify banking partners for the future and track the big movers and new arrivals by benchmarking on their size, growth, profitability (Return on assets, return on capital and cost to income ratio) as well as the advantage in terms of Capital to assets ratio.
Kenya is currently ranked 7th in Africa based on country aggregates, with the economy expected to improve to 3.1per cent in 2019, according to the World Bank. Its outlook for African lenders remain optimistic as currency and commodity volatility gradually subsides, a stronger banking system is likely to emerge.
Kenya’s Banking sector has recently experienced turbulence which saw banks go under due to poor management and as a result in the Central Bank has become more aggressive in implementing and ensuring banks follow the laid out procedures.