Equity Group has been named Africa’s best bank in this year’s Euromoney Awards for Excellence and for the second time the continent’s Best Digital Bank.
According to Euromoney, the regional lender managed a rare feat for banks in the continent, to become a domestic champion and substantial regional player in East Africa.
This year, Euromoney introduced The Excellence in Leadership award category that recognized the efforts made by banks in responding to the COVID-19 pandemic for its employees, clients, own business, societies and economies.
Equity was recognized for its proactive involvement in initiatives that have benefited the community in which it operates, more so during the current COVID-19 pandemic.
Through its subsidiary, Equity Group Foundation (EGF) and with support from the Mastercard Foundation and the family of Dr James Mwangi, Equity committed Ksh 1.1 billion (USD $11 million) to provide Personal Protective Equipment (PPE) to frontline medical staff dealing with COVID-19 patients in public hospitals in Kenya and another USD 2M (one million each for Rwanda and DRC) to support Rwanda procure 22,250 testing kits and DRC to procure PPEs.
Commenting on the award, Equity Group Managing Director and CEO, Dr. James Mwangi said, “We are proud to receive three awards from Euromoney for our role in the community, as we continue to support our customers and clients. These awards are a true reflection of our commitment as a Bank to transform lives, give dignity, and expand opportunities for wealth creation for our customers.”
“Under the stewardship of chief executive, James Mwangi, the Group has come a long way from a traditional brick-and-mortar institution. After two years of extensive investment in digital technology, it now better reflects the changing needs and behaviour of its customer base,” noted Euromoney in their statement.
Stanbic Bank Kenya was named the best investment bank in Kenya making it their second win with the Global Institution.
The award is recognition to Stanbic Bank’s ability to deliver solutions across a range of products and services to its customers and further demonstrates a breadth of capabilities in terms of client-driven business across debt, equity, Mergers & Acquisitions, corporate advisory, and areas such as foreign exchange and cash management.
Stanbic Bank Head of Corporate and Investment Banking Mr. Anton Marais said, “This recognition speaks volumes of our track record and is a pleasing achievement in Kenya’s highly competitive investment banking environment where we are up against both local and international competitors.”