Equity rated best bank in Think Business awards

Kenya’s second-biggest lender by assets, Equity Group #ticker:EQTY, shrugged off competition to win the overall best bank at the 2019 Think Business Awards.

Equity won in sustainable corporate responsibility, mobile banking, small and medium enterprises (SME) banking. It also won in the digital banking category and was best in agriculture and livestock financing.

Barclays Bank of Kenya #ticker:BBK was named the best lender in asset financing. ABC Bank won in the category for lenders with the lowest charges for individuals while Stanbic Bank was named the best in mortgage-financing.

Credit Bank emerged as the best bank in its category — Tier III — and the second runners up in the SME banking category. Sumak Micro Finance bank that last December received Sh2 billion ($20 million) loan from US-based Social Investment Managers & Advisors (Sima) to boost its SME loan portfolio was named the best microfinance bank in livestock and agriculture financing.

Maisha MicroFinance Bank, the first micro lender to launch a mobile money savings and loan product backed by Airtel in 2017 won in the product innovation category for micro-financiers.

Paramount Bank was feted for having the lowest charges for SMEs while Century Bank was the best emerging microfinance lender.

In the individual category, Barclays Bank scooped two out of the three awards with the lender’s corporate banking director James Agin wining the Best Corporate Banker of the year.

Alex Muriu, Barclays Bank digital marketing manager was named the young banker of the year while Rose Kimani of Faulu MicroFinance Bank won the lifetime Achievement Award.

Think Business, now in its 14th edition, recognises banks and micro-lenders for outstanding product innovation and services to both retailers and Small and Medium Enterprises.