Equity Group ranked world’s 4th strongest banking brand

Kenyan financial services company Equity Group has been recognised as one of the strongest banking brands globally.

In the 2023 Brand Finance’s Brand Strength and Brand Value rankings, Equity climbed one place to fourth position in the World’s Top 10 Strongest Banking Brands.

The lender emerged with a Brand Strength Index score of 92.4 out of 100 and an elite AAA+ brand strength rating, marking a 1.6 points BSI improvement on its 2022 debut ranking.

This is its second consecutive appearance in the Brand Finance Banking 500 rankings.

Equity also climbed 47 places in its brand value ranking to position 291 from last year’s 338 after recording a significant growth in brand value to Ksh.69 billion (USD 531.7 million) from Ksh.44 billion (USD 338 million) in 2022.

“We are delighted to see that Equity has once again been recognized as one of the strongest banking brands in the world by Brand Finance. We are excited that 4 of the top 10 banks are from the African continent and that in a span of 1 year the Bank’s brand value has ascended by 37% and improved its ranking inching one step closer to position 1 globally,” Group Managing Director and CEO, James Mwangi, said.

According to Declan Ahern, Director of Brand Finance, the rise of mobile banking is among the key factors that have made lenders across the globe recover significantly post-COVID-19.

“There has been an improvement in digital banking services, government stimulus measures have been relatively successful, and the rise of mobile banking and online platforms have contributed to the sector’s positive performance,” he said.

The World’s Top 500 most valuable and strongest banking brands are included in the annual Brand Finance Banking 500 ranking.