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Kenya

Equity wins European Award

NAIROBI, July 16 – Equity Bank has been voted the best bank in Kenya during this year’s Euromoney Excellence Awards.

This is the second time the local bank is winning this award.

The bank received the 2008 Euromoney Award for the best bank in Kenya for leveraging on its efficient systems and processes to be able to process more than 45 percent of all the share applications in the Safaricom IPO.

Euromoney honours institutions which bring the highest levels of service, innovation and expertise to their customers, taking into account the geographical coverage of a financial institution as well as their best practices in a region.

In addition, the awards also consider the capabilities of a bank’s investment arms and how these complement commercial operations.

Public data sources are used by the magazine to rate entrants on size and market share.

Equity Bank Managing Director Dr James Mwangi while receiving the award expressed pride in the bank’s accomplishments and has dedicated the award solely to the efforts and commitment of all members of staff.

 “This unique recognition is attributable to the dedication shown by the bank’s management and staff, who have gone the extra mile to make Equity Bank a truly people’s bank. Their return on equity, commitment to detail, work ethic and leadership is unprecedented,” said Euro money while recognising Equity bank for the award.

Last year, Equity Bank was ranked the third best Microfinance institution in the world in an analysis conducted by MicroCapital – the leading news and research entity on Microfinance.

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The bank also received the 2007 Global Vision Award jointly with the Grameen Bank of Bangladesh during the G8 summit.

In the Kenya Banking Awards, the bank bagged six awards as the best bank in micro finance, best bank in retail banking, and the fastest growing bank, among other accolades.

Equity received the award last year due to its efforts to encourage the unbanked to get involved with the banking sector.

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