Equity has been ranked as the second topmost valuable brand in Kenya, according to Brand Finance, an organization that specializes in brand valuation across all sectors.
Brand Finance undertakes the world’s largest study on brand valuation, across all sectors and geographies each year that saw Equity ranked in position 69 in Africa.
For the first time this year, Brand Finance launched the Africa150 ranking; a ranking of Africa’s most valuable and strongest brands.
Equity, with a customer base of 14.2 million customers emerged among the topmost rated brands during the period.
Equity Group is ranked the 2nd highest valued company by market capitalization at the Nairobi Stock Exchange at sh 132.3Billion.
Equity was a front runner amongst banking sector peers in the region. The Bank’s ranking is evidence of the Group’s continued brand growth and influence in the society in which it operates.
“This recognition is a testament to Equity’s commitment to living its purpose of transforming lives, giving dignity and expanding opportunities for wealth creation. Over time Equity has established itself as a Social and Economic brand, scaling on both fronts, owing to its unique approach. The Group has and will continue to impact lives and livelihoods of people in communities where it operates by using existing infrastructure, strategic partnerships and a strong brand.” Commenting on the ranking James Mwangi, Equity Group Managing Director and CEO said.
The company assessed the impact of COVID-19 based on the effect of the outbreak on enterprise value, compared to what it was in January this year.
Despite the business disruption caused by the COVID-19 pandemic, Equity’s strategy has ensured it remains committed to its customers through its product and service offering. As at end of the year 2019, Equity’s balance sheet size stood at sh 673.7 billion, making it among the top 10 ranking banks in Africa, based on financial soundness, return on risk, and profitability. In the year under review, Equity registered a 14% increase in profit after tax, which was driven by a 23% growth in the loan book.
Brand Finance is a London based organization that evaluates the strength and value of more than 5000 global brands every year, since 2008.
The company evaluates the strength of brands and quantifies their financial value to help organizations of all kinds make strategic decisions.
The brand directory holds all the Brand Finance rankings, specialist reports and whitepapers published since 2007. With over 40 sectors and industries covered in 46 countries, Brandirectory is the most comprehensive collection of original brand valuations, brand strength analyses and royalty rate calculations.
By Christabel Airo