Equity bank has been recognized among the top 1000 best banks globally by the Financial Times Banker Magazine.
Equity was ranked at position 754 out of 1000 global banks, a ranking that was based on an array of metrics including the size of the lender, financial soundness, profits on capital, and return on assets. The lender jumped 90 spots from last year’s position 844.
Equity was ranked position 62 on Capital Assets Ratio and Financial Soundness, which is an improvement of 13 spots, from last year.
The lender also ranked at position 20 overall on Return on Assets, and position 55 on Profit on Capital. According to the publication, Return on Assets was at 3.35%; Profit on Capital was at 23% and Capital Assets Ratio was 14.56%.
Continentally, Equity was placed in position 22 of the best banks in Africa.
Equity bank CEO Dr James Mwangi, welcomed the recognition.
“We are humbled that despite being a regional bank operating in Africa, we have made it among the top 754 banks in the world and demonstrated our efficiency and quality by being ranked among the top 62 global banks in the most important three parameters; Soundness or Financial Stability, Return on Assets and Return on Equity.” He said.
Equity bank has over 14 million customers