Equity Bank

Equity Bank on course to takeover Zimbabwean lender BancABC Bank

October 16, 2019

KENYA – Equity Bank, a financial service provider is on course to takeover of the Zimbabwean lender BancABC Bank that serves as both corporates and retail as it establishes a presence in 10 African countries. A cautious entry into Zimbabwe, a country currently weighed down by a volatile exchange rate and hyperinflation was part of […]

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Equity takes over US$20m East African Cables loans by various lenders

October 14, 2019

KENYA – Equity Bank, a Kenyan financial service provider, is taking over a total of US$20m (KSh2 billion) worth of loans that had been advanced to East African Cables by various lenders, including Standard Chartered Bank (Kenya) and Ecobank Kenya Limited. According to Business Daily, the cables manufacturer has disclosed details of its debt restructuring […]

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Equity Bank rebrands with a new look and logo in line with ongoing transformation

October 3, 2019

KENYA – Equity Bank has rebranded and now has a new look and logo in what the lender termed as “in line with the ongoing journey of transformation and regional expansion.” Equity will present itself as a unified brand, with one basket of products and services under one roof; ranging from banking to insurance and […]

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Equity Bank set to spend US$17m in DRC bank acquisition deal

September 12, 2019

KENYA – It could cost Equity Group at least $170 million (Sh17.6 billion) to acquire DRC Congo’s second largest lender Banque Commerciale du Congo (BCDC) based on the price multiple of the lender’s previous DRC acquisition. According to Business Daily, The Standard Investment Bank (SIB) estimate is based on BCDC’s book value at the end […]

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Equity Bank in talks to buy another DRC lender to expand its footprint

September 10, 2019

KENYA – Equity Group Holdings’ board of directors have announced the signing of a non-binding agreement with shareholders of Banqué Commerciale du Congo (BCDC) to acquire the majority stake. Banque? Commerciale du Congo (BCDC) is the second largest bank in Democratic Republic of Congo. Equity bank will acquire the stake through a cash transaction and […]

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Equity Bank taps former World Bank’s executive as the new chief operating officer

September 3, 2019

KENYA – Equity Bank has named former manager at the World Bank’s private sector financing arm IFC, John Wilson as new operations chief for the bank’s East and Southern Africa market. The announcement was done on the 3rd of September and followed the institution’s plans to accelerate the digitization of products and services. The Swede […]

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Equity Bank launches in Ethiopia to expand regional footprint

June 15, 2019

KENYA – Equity Bank Group, one of the leading Kenyan based financial institution, has opened a representative office in Addis Ababa. This follows an acquisition of a licence to operate in the Ethiopian market that has so far remained closed to foreign lenders. “Having completed phase one of our (regional) expansion, the entry into Ethiopia […]

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European Investment Bank partners Equity Bank in US$66.2m agro-processing loan scheme in Kenya

June 14, 2019

KENYA – The European Investment Bank (EIB) has unveiled a US$66.2 million (Kshs6.62 billion) financial package for onward lending to farmers and agro-processors servicing demand-driven contracts in Kenya. Dubbed the Kenya Agriculture Value Chain Facility, the financing program was launched in Nairobi with the sopport fron the European Union. EIB signed a partnership with Equity […]

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Equity Bank in US$98m deal to acquire banks in four African countries

April 30, 2019

KENYA – Kenya’s leading financial services provider, Equity Bank has announced that it has agreed to acquire banking units in four African countries including Zambia, Mozambique, Tanzania and Rwanda. According to a Business Daily report, the banks are owned by a London Stock Exchange-listed firm, and the acquisition forms part of the bank’s ambitious pan-Africa […]

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