In Summary
- Mwangi said that the growth speaks to the group embedded social and trust capital that has seen the group’s brand rated the fourth strongest financial brand on Earth
- According to Mwangi, Equity’s group business has recorded recovery and growth momentum after the COVID 19 operating environment
Equity Group has weathered a turbulent macroeconomic environment to register a 21 percent growth with a total assets reaching Ksh. 1.537.7 Trillion.
Speaking while releasing the 1 quarter results 2023 Equity Group Managing Director and CEO James Mwangi said that the growth speaks to the group embedded social and trust capital that has seen the group’s brand rated the fourth strongest financial brand on Earth.
“The strong growth speaks to the group’s embedded social and trust capital that has seen the Group’s brand rated the forth strong financial brand on earth. We are working to anchor the strength of the brand on customer experience its capabilities and superior product offering,” said Mwangi.
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More transactions done digitally after COVID
According to Mwangi, Equity’s group business has recorded recovery and growth momentum after the COVID 19 operating environment.
The value of transactions in branches has grown by 40 percent to 990.5 billion up from 708.3bilion transactions.
The value of transactions on Agency channel has grown by 44 percent to 681.6 billion transactions, up from 472.3 billion transaction.
“The COVID environment acted as tailwind for digital transactions adoption by our customers and we have emerged out of 3 year billion transaction,” added Mwangi.
The group’s regional expansion and product diversification strategy has delivered almost 50:50 split of business between the anchor Kenya business and the regional banking subsidiaries and non-banking business.
By Jeremick Joe
