Equity Bank Tanzania Limited
TypePrivate
IndustryFinancial services
Founded2012
HeadquartersGolden Jubilee Towers, Ohio Street Dar es Salaam, Tanzania
Number of locations
14 branches (2020)
Area served
Tanzania
Key people
Raymond Mbilinyi - Non-Executive Chairman
Robert Kiboti - Managing Director
Products
RevenueUS$19.1 million (2020)
Total assetsUS$259.1 million (2020)
OwnerEquity Group Holdings
Number of employees
399 (Q4:2019)
ParentEquity Group Holdings Limited
Websitetz.equitybankgroup.com

Equity Bank Tanzania Limited, is a commercial bank in Tanzania, the second-largest economy in the East African Community. It is licensed by the Bank of Tanzania, the country's central bank and national banking regulator.[1][2] The bank is a member of the Equity Group Holdings Limited, a large financial services conglomerate, headquartered in Nairobi, Kenya, with subsidiaries in Kenya, Rwanda, South Sudan, Tanzania, Uganda, Democratic Republic of the Congo and a representative office in Ethiopia.[3]

Overview

As of September 2014, Equity Bank Tanzania Limited owned total assets valued at US$143.42 million, with US$107.68 million in customer deposits and a loan book of US$87.1 million.[4] As at 31 June 2016, his bank was the leading originator of mortgage loans in Tanzania, accounting for an estimated TSh 96 billion (approx. US$45 million) in total mortgage loans.[5] At that time, this translated in about 20 percent market share of all mortgage loans in the country.[5]

In 2019, Equity Group Holdings Limited began talks to acquire four banks in Tanzania, Rwanda, Zambia and Mozambique from Atlas Mara in a share deal valued at KSh 10.6 billion (US$965 million) where the company had recorded a pre-tax loss of KSh 559 million (US$5.09 million). The transaction deal was dropped so that Equity Group Holdings Limited could stock their reserves and have cash flow during the COVID-19 pandemic that was being reported worldwide.[6]

By December 2020, Equity Bank Tanzania Limited recorded a total value of $162 million (KSh 17.8 billion) in customer deposits, a loan book worth $138 million( KSh 15.2 million) and asset value worth $259 million (KSh 28.5 billion).[7]

Equity Group Holdings Limited

Equity Group Holdings Limited is a large financial services group in East Africa.[8] As of March 2014, As of August 2021, the group had an asset base valued at over US$10.2 billion (KSh 1.12 trillion), with a total customer base in excess of 14 million.[9][7] The companies that comprise the Equity Bank Group include the following:[10]

  1. Equity Bank Kenya Limited – Nairobi, Kenya Kenya
  2. Equity Bank Rwanda Limited – Kigali, Rwanda Rwanda
  3. Equity Bank South Sudan Limited – Juba, South Sudan South Sudan
  4. Equity Bank Tanzania Limited – Dar es Salaam, Tanzania Tanzania
  5. Equity Bank Uganda Limited – Kampala, Uganda Uganda
  6. Equity Banque Commerciale du Congo – Kinshasa, Democratic Republic of the Congo Democratic Republic of the Congo
  7. Equity Consulting Group Limited – Nairobi, Kenya Kenya
  8. Equity Insurance Agency Limited – Nairobi, Kenya Kenya
  9. Equity Nominees Limited – Nairobi, Kenya Kenya
  10. Equity Investment Services Limited – Nairobi, Kenya Kenya
  11. Finserve Africa Limited – Nairobi, Kenya Kenya
  12. Equity Group Foundation – Nairobi, Kenya Kenya

Shares of the stock of Equity Group Holdings Limited, are listed on the Nairobi Stock Exchange (NSE), under the symbol EQTY. The Group's stock is also cross-listed on the Uganda Securities Exchange (USE), under the symbol EBL.

See also

References

  1. ↑ Bank of Tanzania (2019). "Directory of Commercial Banks Operating In Tanzania". Dar es Salaam: Bank of Tanzania (BOT). Retrieved 5 July 2019.
  2. ↑ Bank of Tanzania (20 February 2012). "Bank of Tanzania Issues Commercial Banking License To Equity Bank Tanzania Limited" (PDF). Bank of Tanzania. Retrieved 13 November 2014.
  3. ↑ Victor Juma (5 July 2019). "Equity deal adds 2,641 new staff to payroll". Business Daily Africa. Nairobi. Retrieved 5 July 2019.
  4. ↑ MXM (October 2013). "MFI Report: Equity Bank Tanzania Limited". MixMarket.Org (MXM). Retrieved 3 December 2014.
  5. 1 2 Business Daily Correspondent (23 September 2016). "Equity Bank dominates mortgage lending in Tanzania". Business Daily Africa. Nairobi. Retrieved 24 September 2016. {{cite web}}: |author= has generic name (help)
  6. ↑ "Kenya: Why Equity Bank broke off talks with Atlas Mara". The Africa Report.com. 6 July 2020. Retrieved 14 September 2021.
  7. 1 2 "Investor Relations | Equity Group Holdings". Retrieved 14 September 2021.
  8. ↑ Jackson Okoth, and Reuters (31 October 2014). "Equity Bank Posts 25% Jump In 9-Month Pretax Profit". The Standard (Kenya). Retrieved 13 November 2014. {{cite web}}: |first= has generic name (help)
  9. ↑ Kangethe, Kennedy (17 April 2014). "Equity Group In 20 Percent Profit Rise to KSh3.8 Billion". Capital FM Online (Nairobi) via AllAfrica.com. Retrieved 13 November 2014.
  10. ↑ Wahito, Margaret (31 October 2014). "Equity Bank Restructuring To Form New Holding Company". Capital FM Online (Nairobi). Retrieved 13 November 2014.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.