Equity Group’s balance sheet has crossed the Ksh 1 trillion mark after migrating Congo’s Banque Commercial Du Congo (BCDC) into its core banking platform. The BCDC migration made it the first bank in Eastern and Central Africa to achieve the Ksh 1,000,000,000 milestone.
The Bank is one the most capitalized bank in the region. Equity Group CEO Dr. James Mwangi says in a press statement that the milestone will enable the bank group to extend large corporate loans across its regional footprint.
“The benefits to our customers will be immense. The bank is also the most capitalized in East and Central Africa with over Ksh. 142 billion giving it a single lending obligor of Ksh. 35 billion. Equity banking subsidiaries will now be in a position to leverage the Group’s strength to extend large corporate loans across all the countries where Equity operates,” Mwangi said.
The BCDC migration gives Equity group over 112 corporate banking experience, strengthening Equity’s supreme banking experience. On the other hand, the migration will provide BCDC superior security features, giving its customers access to real-time cross-border transactions and a multicurrency and multicountry through Equity’s regional footprint.
READ ALSO: Equity Group Completes Acquisition of 66.53pc Stake in BCDC for $95M
