- Group MD Mwangi said he was delighted to see that once again, the bank has made a step towards being recognised as the strongest financial brand in the world.
- It was Equity Group’s third consecutive appearance in the Brand Finance Banking 500 rankings.
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Equity Group has fortified its position as one of the strongest banking brands globally by scoring highly in the 2024 Brand Finance’s Brand Strength and Brand Value rankings.
Equity Group has been ranked the second strongest banking brand in the World’s Top 10 Strongest Banking Brands with a Brand Strength Index score of 92.5 out of 100 and an elite AAA+ brand strength rating.
It was Equity Group’s third consecutive appearance in the Brand Finance Banking 500 rankings. In 2023, clinched the fourth position.
Equity also saw its brand value rise by USD 22 million from last year’s brand value of USD 428 million to USD 450 million (Sh64 billion), earning it the tenth position in the most valuable banking brand in Africa.
Bank Central Asia (BCA) took the number one position.
It is an Indian bank offering transaction banking, corporate banking, commercial and small and medium enterprise banking, individual banking, and treasury and international banking.
Banca Transilvania S.A. a banking institution with headquarters in Cluj-Napoca, Romania took the third position.
First National Bank (South Africa) and KCB (Kenya) were fourth and fifth respectively.
Speaking on the ranking, Equity Group managing director and CEO James Mwangi said he was delighted to see that once again, the bank has made a step towards being recognized as the strongest financial brand in the world.
“Our strong governance structures, practices, core values, commitment to customer centricity, performance focus, organizational culture of excellence and execution continues to be the foundation on which the brand is sustainably evolving, building and developing,” he said.
Mwangi said the ranking as the second strongest banking brand globally is a testament that Equity’s purpose of transforming lives, giving dignity, and expanding opportunities for wealth creation is continuing to prove to be relevant to customers, industry, and stakeholders.
“We are further excited to see that four of the top strongest 10 banks in the ranking are also from Africa,” he said.
Every year, leading brand valuation consultancy, Brand Finance, puts 5,000 of the biggest brands to the test and publishes nearly 100 reports, ranking brands across all sectors and countries.
The World’s Top 500 most valuable and strongest banking brands are included in the annual Brand Finance Banking 500 ranking.
While trust remains a dominant driver of customer choice when it comes to banking services, Brand Finance’s research found that articulating a sense of purpose, as well as delivering products and services when, where, and how the customer wants to access them is equally important.
Equity Group Holdings Plc is a non-operating holding company with banking subsidiaries in Kenya, Rwanda, Tanzania, Uganda, South Sudan, and the Democratic Republic of Congo.
It has a Commercial Representative Office in Ethiopia and non-banking subsidiaries in Kenya that are engaged in providing investment banking and stock-broking, insurance, custodial services, payment services, and telecommunication services.