Awards for Excellence 2008: Kenya
Best bank: Equity Bank
Last year’s award to went to Equity Bank, thanks to its efforts to encourage the unbanked to get involved with the banking sector. This year there was no doubt that it should win the award again. In fact several bankers we talked to threatened to boycott Euromoney if Equity didn’t win the award; one banker went so far as to say that it deserved the best bank in Africa award.
Why the enthusiasm? It is all attributable to the bank’s management and staff. "I have never seen an organization like them in my life," eulogizes one banker. "Their return on equity, commitment to detail, work ethic and leadership is unprecedented."
Other banks are doing their best to match Equity’s efforts – Kenya Commercial Bank is well managed and expanding into other regional markets – but for the time being, Equity Bank is out in front and will take some catching.