, NAIROBI, Kenya, Oct 5 – Equity Bank has been ranked the 35th most solid bank in the world and position 11 on profit and loss assets and 44th on profits on capital by the Banker Magazine.
According to the Top 1000 World Banks 2018 ranking, Equity Bank was placed first in Kenya, an improvement from last year’s second position and number 799 globally with Sh84.8 billion in Tier 1 capital.
The bank moved seven places up compared with the 806th position placed last year. Equity’s ranking in Kenya was based on Return on Assets and Capital Assets Ratio and 14.63 percent increase in Tier 1 capital Year on Year.
In a statement, Equity Group CEO James Mwangi says the ranking is an indication that Equity Bank remains robust, despite the challenging operating environment.
“The Bank has already developed and adopted a sustainable business model to cushion the business as well as boost value creation for shareholders. Innovation has proved to be a great enabler in driving growth and already registering efficiency gains from digitization,” he said.
The ranking also gave KCB Bank and Cooperative Bank a good ranking at 809 and 951 respectively.