Equity Bank has been awarded the Best Regional Bank in East Africa, and for the second year running, the Africa Socially Responsible Bank of the Year, having demonstrated high performance across various metrics, both qualitative and quantitative in the competition.
According to the African Banker judging panel, the Bank excelled in terms of reaching out to new customers, offering new services, adopting inclusiveness by reaching out to the unbanked, adopting new technologies, and for its contributing to a stronger financial sector across the region.
“We are glad that Equity has won this award. We appreciate the recognition that our operations in the 6 East and Central African countries we operate in have been standardized to reflect the One Equity brand providing inclusive financial services and we are not just a Kenyan bank, but a regional bank,” said Dr. James Mwangi, Equity Group CEO & MD.
During this COVID-19 period, the Bank exhibited initiative and support for its customers’ economic plight by providing an option for customers to re-negotiate existing facilities for up to 4 years.
Equity further eliminated charges on all mobile banking transactions including all Equity-to-Equity mobile bank transfers, bank to mobile wallet transfers, mobile wallet to bank transfers, and mobile payments for bills, utilities, shopping, fuel, etc. to encourage cashless transactions.
Similarly, the Bank also won the African Banker Awards category for Africa Socially Responsible Bank of the Year for the second time in a row.
The panel of judges sought concrete examples of projects and initiatives within the institutions that have had a sustainable impact on the communities they are geared towards.
The Group through its subsidiary, Equity Group Foundation (EGF), has identified seven thematic areas to focus on that include; Education & Leadership Development, Food & Agriculture, Health, Enterprise Development &Financial Education, Social Protection, Energy & Environment, and Innovation.
EGF has to date mobilized over kes. 44.7 billion to support these initiatives.
“We have combined financial services and doing good, social impact investments, in our business model for the betterment of our communities and we are glad that our work and the impact is being recognized,” added Dr. Mwangi.
Under the health pillar, EGF mobilized kes1.1 billion (USD11 million) for the purchase of PPE for frontline medical personnel dealing with COVID-19 patients in public hospitals in Kenya.
The African Banker Awards is a prestigious continental recognition awards ceremony that recognizes reforms, rapid modernization, consolidation, integration, and expansion of Africa’s banking and financial system.
Recognizing the personalities and banks that are driving Africa’s rapidly transforming financial sector, the African Banker Awards bring together industry leaders from Africa and the world.
