Equity Bank has been ranked the best in Kenya in a report by the Banker Magazine. The bank was named among the Top 1000 Banks in the World in the same report.
According to the ranking, it recorded an improvement from last year’s 2nd position and number 799 globally with $848 Million in Tier 1 capital*. This shows that the financial institution has moved seven places up, compared with the 806th position placed last year.
In other categories, the bank ranked number 11 on Return on Assets*, 35th on soundness* based on Capital Assets Ratio*, 44th based on Profits on Capital* globally. Equity’s ranking in Kenya was based on Return on Assets and Capital Assets Ratio and 14.63 per cent increase in Tier 1 capital year on year.
According to The Banker, Africa’s economic fortunes improved over the 2017 review period following a difficult couple of years in which lower commodity prices hit the performance of the Africa continents’ largest markets.
The Banker July 2018 edition features the Top 1000 World Banks ranking, which has been setting the industry benchmark since 1970. The ranking provides each bank’s performance, strength and stability. This helps track bank performance, identify banking partners for the future and track the big movers and new arrivals by benchmarking on their size, growth, profitability (Return on assets, return on capital and cost to income ratio) as well as advantage in terms of Capital to assets ratio.