Equity ranked 2nd strongest banking brand globally
By Print Reporter, March 14, 2024Equity Group confirmed its position as one of the strongest banking brands globally by scoring highly in the 2024 Brand Finance’s Brand Strength and Brand Value rankings.
For the third consecutive year, Equity has surged in the Brand Finance Banking 500 rankings, ascending from 4th place in 2023 to an impressive 2nd position in the World’s Top 10 Strongest Banking Brands.
With a remarkable Brand Strength Index score of 92.5 out of 100 and an elite AAA+ brand strength rating, Equity has solidified its reputation on the global stage.
Substantial increase
The feat reflects a noteworthy 0.1 point improvement in its Brand Strength Index since its debut ranking in 2022.
Moreover, Equity’s brand value has seen a substantial increase of $22 million, soaring from last year’s $428 million to an impressive $450 million (Sh64 billion).
This remarkable growth has secured Equity the 10th position among the most valuable banking brands in Africa. Equity Group Managing Director and CEO, James Mwangi (pictured) said the group is thrilled to witness another milestone in its journey towards being recognised as the strongest financial brand globally.
“Our unwavering commitment to strong governance structures, customer-centric practices, and a culture of excellence has been the cornerstone of our brand’s sustainable evolution,” he said in a statement.
Mwangi said the ranking reaffirms the group’s dedication to transforming lives, fostering dignity, and expanding opportunities for wealth creation, which resonates deeply with our customers, industry, and stakeholders.
“As we continue to anchor our business on our purpose, this achievement propels us to push the boundaries of innovation and excellence, setting new standards and pioneering transformative solutions in the financial industry.”
Each year, Brand Finance rigorously evaluates 5,000 of the world’s largest brands, publishing nearly 100 reports that rank brands across various sectors and countries.
The Brand Finance Banking 500 report, considered the industry’s most authoritative publication, assesses the brand value of the world’s financial institutions using quantitative and qualitative metrics, including brand strength, loyalty rates, and revenue forecasts.