Equity Bank Congo & BCDC Bank receive approval to merge
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Equity Group has received regulatory approval to merge its subsidiary Equity Bank Congo (EBC) and Banque Commercial Du Congo (BCDC). Going forward, the new bank will be known as Equity Banque Commercial du Congo (Equity BCDC).
The Group received approval from the Central Bank of Congo to merge the two subsidiaries (BCDC and EBC) into one bank. The Group will also execute planned change of brand identities for the Bank branches and other outlets of both Equity Bank Congo and BCDC.
Mr. Yves Cuypers, CEO and Chairman of the Executive Committee at BCDC and Mr. Celestin Muntuabu, Managing Director EBC, and their principal deputies will remain in leadership. The management committee with the combined board members will constitute the pioneer board of Equity BCDC.
Equity Uganda launches new brand identity for sustainable growth
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Equity Uganda, a subsidiary of Equity Group Holdings, has today unveiled a new brand identity in line with the Group’s ongoing transformation journey. The new identity is aimed at creating a sustainable growth path and service delivery in today’s dynamic financial services environment.
With the new identity, Equity Uganda will present itself as a unified brand. The new logo now features
Equity without an entity name such as
Bank to signify a one-stop-shop and a consolidated business model for its inclusive range of financial services.
Commenting on the launch of the transformation, Managing Director Equity Uganda, Samuel Kirubi said that the new look is symbolic of Equity’s next phase of transformation to a unified brand offering integrated financial services in line with its vision of championing the socio-economic prosperity of the people of Africa.
Equity Bank Group Hits Ksh 1 Trillion Balance Sheet Mark
By Juma / Published December 24, 2020 | 10:30 am
Equity Group Holdings hit a balance sheet of 1 trillion shillings on Wednesday, becoming the first publicly listed lender in Eastern and Central Africa to reach the milestone, beating other players such as KECB Group and Absa Bank.
In a statement, Equity Group said that the 1 trillion mark on its balance sheet was achieved following the acquisition and integration of its business with Banque Commerciale Du Congo (BCDC).
In August 2020, Equity Group Holdings PLC announced the completion of its acquisition of a 66.53 percent stake in the Banque Commerciale Du Congo (BCDC) at a cost of USD 95 Million.
Equity Group crosses Ksh. 1 trillion balance sheet mark after acquisition of BCDC Bank
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Equity Group has announced that it has crossed the Ksh. 1 trillion ($10 billion) balance sheet mark after the successful migration of BCDC Bank to Equity’s Finacle core banking platform.
BCDC customers will enjoy a shared platform that Equity Group operates in six countries, giving them access to a multi-currency and multi-country platform that supports real time cross border transactions.
Speaking when announcing this milestone from Kinshasa Congo where he was witnessing the migration of BCDC to Equity’s core banking platform, Dr. Mwangi said, “We are delighted to witness this milestone that has shattered the psychological barrier of a trillion-shilling balance sheet. ” He added, “The benefits to our customers will be immense. The bank is also the most capitalized in East and Central Africa with over Ksh. 142 billion giving it a single lending obligor of Ksh. 35 billion. Equit
THE STANDARD By
Sara Okuoro |
December 23rd 2020 at 13:02:00 GMT +0300
Equity Group CEO Dr James Mwangi.
Equity is the first bank in East and Central Africa to achieve the trillion-shilling balance sheet milestone after migrating Banque Commercial Du Congo (BCDC) to its core banking platform.
The one trillion mark by Equity lifts the visibility of the financial sector in Eastern Africa significantly to compete favorably with financial institutions in South Africa, West Africa and North Africa for project and development finance.
“We are delighted to witness this milestone that has shattered the psychological barrier of a trillion-shilling balance sheet,” said Equity Group CEO Dr James Mwangi.