Equity Group has crossed the Sh1 trillion rubicon to become the first bank in Eastern and Central Africa to cross the historic and instrumental mark.  

The milestone was achieved after the successful migration of the Banque Commercial Du Congo (BCDC) to Equity’s Finacle core banking platform.

The fete by Equity sheds light on the financial sector in Eastern Africa as it seeks to compete with contemporaries in South Africa, West Africa and North Africa for project and development finance.

Equity Group CEO Dr James Mwangi witnessed the migration of BCDC to Equity’s core banking platform Kinshasa in the Democratic Republic of Congo.

“We are delighted to witness this milestone that has shattered the psychological barrier of a trillion-shilling balance sheet,” said Dr Mwangi.

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He lauded the benefits Equity Bank customers will reap from the BCDC acquisition.

“The benefits to our customers will be immense. The bank is also the most capitalized in East and Central Africa with over Sh142 billion giving it a single lending obligor of Sh35 billion.

“Equity banking subsidiaries will now be in a position to leverage the Group’s strength to extend large corporate loans across all the countries where Equity operates.”

Dr Mwangi said BCDC was bringing to the Group 112 years of corporate banking experience and will be key in strengthening Equity’s supreme banking experience.

BCDC, on the other hand, is set to benefit from the dynamic and disruptive business model and technology with the two brands expected to create a formidable financial institution in DRC.


Speaking during the migration, BCDC MD Yves Cuypers lauded the move saying Equity will help it enhance financial services to citizens of DRC.

“We are excited at the possibilities that Equity Group Holdings brings to our BCDC customers. By becoming part of a large international financial services Group, our customers will enjoy a wider choice of products and services and most importantly, they will immediately be able to access modern technologically driven banking, including a versatile mobile banking experience, international card payment options and merchants, access to a wide range of payment outlets and a broad digital banking footprint,” Cuypers said.