Equity Bank has named Mr. Moses Okoth Nyabanda, currently the Group Chief Finance & Strategy Execution Officer, as the Interim Managing Director of Equity Bank Kenya, pending the Central Bank of Kenya’s approval.
This decision comes in response to Mr. Gerald Warui’s early retirement request, which the bank has accepted. The bank expressed its deep appreciation for Warui’s years of service, during which he held various leadership roles, including overseeing operations, customer service, and human resources, before ultimately becoming the Managing Director of Equity Bank Kenya.
Okoth steps into this role with extensive experience, having served as the Managing Director and Country Senior Partner for PricewaterhouseCoopers (PwC) in Rwanda. His background includes leading teams, developing strategies, and fostering business growth in Kenya, Rwanda, Uganda, and the United Kingdom.
At PwC, Okoth was instrumental in improving operational processes, leading digital initiatives, and managing expenses. Since joining Equity Group, he has been a key member of the executive team, committed to upholding the group’s core values and enhancing customer satisfaction.
Throughout his career, Okoth has distinguished himself as a disciplined and methodical leader, known for creating strong control systems and increasing efficiency. The bank is confident that Okoth will successfully guide Equity Bank Kenya towards continued growth, while also boosting customer satisfaction and employee morale.
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Equity Group, which owns Equity Bank, is the largest financial services provider in the region, with a market capitalization of Kshs 152.8 billion as of August 16, 2024.
The group’s assets amount to Kshs 1,746 billion, with customer deposits totaling Kshs 1,299.5 billion, serving a customer base of 20.7 million. Its extensive network includes 403 branches, 84,398 agents, over 1.1 million Pay with Equity (PWE) merchants, and 37,755 Point-of-Sale (POS) Merchants.
Equity Group’s strong brand, solid financial performance, and significant digital presence have earned it recognition as the second most powerful financial brand globally in 2024, according to Brand Finance.