The International Finance Corporation (IFC) has acquired a 6.7 percent stake in Equity Group to become the lender’s second-largest shareholder.
The stake is equivalent to Ksh.13.9 billion, bought from Britam Holdings in April.
“As Equity Group, we are delighted to welcome IFC, a member of the World
Equity Bank has secured a Ksh.19.1 billion (US$.165 million) funding kitty from International Finance Corporation (IFC) to support Micro, Small and Medium Enterprises (MSMEs) in Africa.
This will see small businesses majorly involved in climate-smart businesses on the continent benefit from the multibillion financing programme.
Twenty six (26) Kenyan companies have committed trade investments worth Ksh.115.4 billion (US$.1.6Billion) in the Democratic Republic of Congo.
The 26 traders are part of the Kenya delegation that participated in last year’s Kenya-DRC Trade Mission organized by the Government of Kenya and the Government of
Banks’ net profit through the 12 months to December 31, 2021, rose to Ksh.141.5 billion from Ksh.80.29 billion in 2020.
The profit record is for all lenders listed on the Nairobi Securities Exchange (NSE), as shown by Metropol Harvest.
The rise in earnings is anchored on the
Equity Bank nearly doubled its full-year profit for the year ended December 31, 2021 post to Ksh.39.1 billion.
In a corresponding period for the year 2020, the Nairobi Security Exchange (NSE) listed institution posted a profit of Ksh.19.7 billion.
According to the bank, it cut loan loss
The International Finance Corporation, a member of the World Bank has lent Ksh18.6 billion to the Kenyan banking subsidiary of Equity Group.
The loan from IFC will support hundreds of Kenyan businesses in the manufacturing, health, trade, transport, and consumer goods sectors.
Equity Group Managing Director and
Equity Bank Rwanda has launched the mentorship and leadership development program, the Equity Leaders Program (ELP), an initiative aimed at supporting young academically gifted students through access to education in public universities around the globe.
The program is set to benefit 32 top-performing male and female
Equity Group Holding’s net profit grew 79 percent in nine months to September 30, 2021, in what the lender has attributed to resilience, a versatile business model, and diversification strategy.
The lender posted Ksh.26.9 billion net profit for the period
under review compared to the Ksh.15 billion
Equity Bank Kenya has received two international standards certifications on its service and information security management systems, cementing its commitment to prioritising customer safety and satisfaction.
The two certifications, ISO 20000 and ISO 27001 on IT Service and Information Security Management Systems respectively, were issued by
Five hundred thousand financial institutions in Kenya are holding more than Ksh241 billion in unclaimed assets, according to recent reports by Unclaimed Financial Assets Authority (UFAA).
The government has ordered the institutions to remit all
unclaimed assets in their possession to the unclaimed financial assets
authority in the