Equity Bank Kenya Limited was incorporated in 2014 as a result of the corporate restructure of Equity Group Holdings Limited. Prior to November 2014, Equity Group Holdings Limited operated both as a licensed bank and a holding company for its subsidiaries.
On October 31, 2014, Equity Bank announced its intention to incorporate a new wholly owned subsidiary, Equity Bank Kenya Limited, to which it would transfer its Kenyan banking business, assets and liabilities. The rationale for the re-organisation is that by converting Equity Group Holdings Limited into a non-trading holding company (as defined under the Banking Act) that owns both banking and non-banking subsidiary companies and provides strategic, brand, risk and talent management to its subsidiaries, the Group will be better placed to invest and to develop the existing and new businesses as part of its third phase of growth and transformation.
As of September 2014, Equity Bank Tanzania Limited owned total assets valued at US$143.42 million, with US$107.68 million in customer deposits and a loan book of US$87.1 million.
Equity Group Holdings Limited
Equity Group Holdings Limited is a large financial services group in East Africa.As of March 2014, The group had an asset base valued at over US$3.45 billion (KES:295 billion), with a total customer base in excess of 8.7 million, in the region the group serves. The companies that comprise the Equity Bank Group include the following:
EBRL is a medium-sized financial services provider in Rwanda, with an estimated total asset valuation of about US$133.25 million (RWF:90.7 billion), as of 30 September 2014. The shareholders' equity was not publicly known at that time.
History
The bank was granted a banking license by the National Bank of Rwanda, in 2011 and commenced banking services in the fourth quarter of 2011. Rwanda was the fourth East African country where the Equity Bank Group has opened a subsidiary. Operations in Tanzania commenced during the first quarter of 2012. The bank group maintains financial services subsidiaries in Kenya, Rwanda, South Sudan, Uganda and Tanzania. Operations in Burundi are planned to begin in the next five years.
Ownership
Equity Bank Rwanda Limited is a 100% subsidiary of the Equity Group Holdings Limited. Headquartered in Nairobi, Kenya, Equity Group Holdings Limited is the second largest financial services provider in East Africa, by assets, behind Kenya Commercial Bank Group (KCB Group). As of September 2014, Equity Group Holdings' asset base was valued at over US$3.83 billion (KES:339.44 billion), with shareholders' equity in excess of US$644.6 million (KES:57.1 billion). At that time, the group's customer base was estimated at over 9.2 million in the five East Arican countries that it serves, making it the largest commercial bank on the African continent, by customer numbers.
Return on Equity stood at 9.27 percent, more than double the Bank's IPO prospectus ROE of 4.22 percent. The Bank’s healthy profit was backed by growth in its core lending business ... The Bank also saw ...
... at the cost of Rs470bn, for which it would not seek any bank loan, but rather, would make revenue-sharing agreements with the NHA and equity partners like Development Finance Institutions (DFIs).
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Abu DhabiCommercialBank... The bank is delivering an annual Return on Equity exceeding 15% each year, while maintaining healthy regulatory ratios and an adequate capital position to fuel future growth.
Accordingly, actual results could materially differ from forward-looking statements for a variety of reasons, including, but not limited to local, regional, national and international economic ...
The $415 million funding package includes construction, term debt and tax equity financing from Natixis Corporate & Investment Banking (CIB) and AdvantageCapital... Advantage Capital is providing $125 million in tax equity for the project.
The preference for Shariah-compliant services is evident from the growth in Islamic banks’ deposits and the fact that over 50 per cent of equities listed in Pakistan's capital market are Shariah-compliant.
... (TIS) for specific income, advance tax etc.Similarly, there are filings done by Indian employers with the ReserveBank of India (RBI) for equity shares allotted under ESOP or similar global scheme.
Similar to some other equity markets, BTC reacted with caution following last week’s Bank of Japan rate hike and it continues to correlate closely with equities, falling sharply on 27th January as ...
