Equity Group has crossed the Ksh.1,000,000,000,000 rubicon becoming the first bank in Eastern and Central Africa to cross this mark. The milestone was achieved upon successful migration of BCDC to Equity’s Finacle core banking platform. The one trillion mark by Equity lifts the visibility of the financial sector in Eastern Africa significantly to compete favorably with financial institutions in South Africa, West Africa and North Africa for project and development finance.
Speaking when announcing this milestone from Kinshasa Congo where he was witnessing the migration of BCDC to Equity’s core banking platform, Dr. Mwangi said, “We are delighted to witness this milestone that has shattered the psychological barrier of a trillion-shilling balance sheet.” He added, “The benefits to our customers will be immense. The bank is also the most capitalized in East and Central Africa with over Ksh. 142 billion giving it a single lending obligor of Ksh. 35 billion. Equity banking subsidiaries will now be in a position to leverage the Group’s strength to extend large corporate loans across all the countries where Equity operates.