May 24, 2024

Equity Bank Leads As The Most Valuable Brand in Kenya

Equity Bank Leads As The Most Valuable Brand in Kenya

Equity Bank has once again solidified its position as the undisputed king of Kenyan brands, with a brand value increase of 1% to KES 65.8 billion. This is according to the latest rankings by Brand Finance, a globally renowned brand valuation firm.

This achievement is particularly impressive considering the challenging economic climate, highlighting the bank’s remarkable resilience and robust growth trajectory. Despite navigating a demanding financial landscape marked by increased loan provisions and a net profit decline, Equity Bank has demonstrated exceptional financial management skills.

This is evident in their significant boost in net interest income, showcasing their agility in adapting to market conditions and their continued revenue generation prowess.

Further solidifying their leadership, Equity Bank maintains an impressive Brand Strength Index score of 92.46, demonstrating a strong connection with their customers through high consumer perception in areas like familiarity, consideration, and recommendation. This score, nearly consistent with last year’s, highlights the bank’s commitment to building trust and loyalty with its customer base.

Beyond Equity Bank’s individual success, the Kenyan brand landscape as a whole witnessed significant growth this year. CIC Insurance Group emerged as the fastest-growing brand, experiencing a remarkable 63% surge in brand value to KES 1.9 billion.

This impressive growth is primarily attributed to their enhanced Brand Strength Index score, indicating a significant improvement in customer perception and brand equity. Their AAA- rating further signifies strong customer confidence and trust, solidifying their position within the market.

Other notable mentions include NCBA Bank, which witnessed a 44% increase in brand value, and Centum Investment Company, experiencing a 36% rise. Kenya Airways also saw a positive trajectory, achieving a 38% boost in brand value. These figures collectively paint a promising picture for the future of Kenyan brands, showcasing their strategic adaptability and resilience in the face of operational and economic challenges.

Equity Bank offers a comprehensive suite of digital banking solutions, designed to provide customers with convenient and secure access to their finances:

  • Mobile Banking: Access funds, build savings, transfer funds, pay bills, buy goods and services, manage card services, access loan services, buy airtime and data, and download transaction receipts and statements. Accessible by dialing *247# and following the prompts.
  • Online Banking: Manage monthly payments, update payment card information, receive paperless statements, and use tools like Courtesy Pay overdraft protection. You can also open a bank account instantly, manage personal finances, and pay bills.
  • Self Service Portal: Kenyans living abroad can access the equity diaspora self service portal.

Read Also : Equity Bank Opens Mariakani Branch

Equity Bank Kenya Limited offers a variety of products and services, including:

  • Banking: Opening accounts, paying and sending money, saving and investing, borrowing, insuring, and giving back.
  • Digital Banking: Online bill pay, card swap, paperless statements, budgeting tools, and courtesy pay overdraft protection.
  • Financing Products for Employees: Loans for consumption, equipment and goods acquisition, real estate acquisition, training, and study fees.
  • Agrobusiness Offer: Agricultural savings, financing for activity development, and financing for agricultural equipment purchase.

For any inquiries or assistance, customers can reach out to the equity bank customer care through the equity bank contact at +254 763 000 000. You can also download the equity bank app for added convenience. International transfers can also be made through the equity bank swift code EQBLKENA XXX.