Equity Group has reaffirmed its status as one of the most robust banking brands worldwide, in the 2024 Brand Finance’s Brand Strength and Brand Value rankings.
Securing the second position in the World’s Top 10 Strongest Banking Brands, Equity Group attained a remarkable Brand Strength Index score of 92.5 out of 100, accompanied by an esteemed AAA+ brand strength rating.
This marks Equity Group’s third consecutive appearance in the Brand Finance Banking 500 rankings, following its fourth-place achievement in 2023.
Furthermore, Equity experienced a USD 22 million surge in brand value, elevating from USD 428 million to USD 450 million (Sh64 billion) compared to the previous year, positioning it as the tenth most valuable banking brand in Africa.
Leading the list, Bank Central Asia (BCA) claimed the top spot, showcasing its diverse banking services including transaction banking, corporate banking, commercial and small and medium enterprise banking, individual banking, and treasury and international banking.
Banca Transilvania S.A., headquartered in Cluj-Napoca, Romania, secured the third position, while First National Bank (South Africa) and KCB (Kenya) ranked fourth and fifth, respectively.
In response to the ranking, Equity Group’s managing director and CEO, James Mwangi, expressed his delight, emphasizing the bank’s continuous journey towards global recognition as the strongest financial brand.
Mwangi attributed this success to Equity’s robust governance structures, core values, customer-centric approach, performance orientation, culture of excellence, and effective execution.
He emphasized that Equity’s purpose of transforming lives, fostering dignity, and enhancing opportunities for wealth creation resonates with customers, the industry, and stakeholders, as reflected in its global ranking.
Furthermore, Mwangi highlighted the significance of Africa’s representation, with four of the top ten strongest banks emerging from the continent.
Annually, Brand Finance evaluates 5,000 leading brands and publishes comprehensive reports, including the Brand Finance Banking 500 ranking, which encompasses the world’s most valuable and strongest banking brands.
While trust remains pivotal in customer decision-making within the banking sector, Brand Finance’s research underscores the importance of articulating a sense of purpose and delivering tailored products and services to meet customer needs.
Equity Group Holdings Plc, a non-operating holding company, operates banking subsidiaries in Kenya, Rwanda, Tanzania, Uganda, South Sudan, and the Democratic Republic of Congo.
Additionally, it maintains a Commercial Representative Office in Ethiopia and non-banking subsidiaries in Kenya, offering investment banking, stock-broking, insurance, custodial services, payment services, and telecommunication services.
