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Equity Bank Q3 results will be announced on 06.11.2012
youcan'tstopusnow
#11 Posted : Tuesday, November 06, 2012 4:11:41 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
King G wrote:
youcan'tstopusnow wrote:

"Agents (transcations) will overtake bank branches by Dec and overtake ATMs by June 2013," Mwangi said.


Is this possible and how? how come i dont see this agents or they are doing good business in the rural set-up

Agency banking is big. Sample this from @kenyainvestor's half year report. Note the industry growth since last year:

"Nearly a quarter of banks in the country have now undertaken agency banking.
As at the end of June 2012, 10 banks had contracted 12,054 agents compared to 6 banks that had contracted
6,513 agents during the first half of 2011. This is an 85% rise in the number of agents
compared to the branch
network by 94 branches or 8.5% to 1,196.
During its half year results presentation, Equity Bank announced that it had more than doubled its number of
agents to 5,004 from 2300.
Their agents now handle 24% of bank transactions, up from 8%, with the C.E.O Dr. James Mwangi projecting that agencies will overtake branches in terms of transactions and volume of money, though he did not give a specific timeframe.
CBK said that at the end of June, the agency network facilitated 18.7 Million transactions valued at Kshs. 93 Billion"
http://www.kenyainvestin...ort-top-5_1174.html?m=1
GOD BLESS YOUR LIFE
wazuaguest
#12 Posted : Tuesday, November 06, 2012 8:22:26 PM
Rank: Member

Joined: 2/9/2012
Posts: 576
youcan'tstopusnow wrote:
King G wrote:
youcan'tstopusnow wrote:

"Agents (transcations) will overtake bank branches by Dec and overtake ATMs by June 2013," Mwangi said.


Is this possible and how? how come i dont see this agents or they are doing good business in the rural set-up

Agency banking is big. Sample this from @kenyainvestor's half year report. Note the industry growth since last year:

"Nearly a quarter of banks in the country have now undertaken agency banking.
As at the end of June 2012, 10 banks had contracted 12,054 agents compared to 6 banks that had contracted
6,513 agents during the first half of 2011. This is an 85% rise in the number of agents
compared to the branch
network by 94 branches or 8.5% to 1,196.
During its half year results presentation, Equity Bank announced that it had more than doubled its number of
agents to 5,004 from 2300.
Their agents now handle 24% of bank transactions, up from 8%, with the C.E.O Dr. James Mwangi projecting that agencies will overtake branches in terms of transactions and volume of money, though he did not give a specific timeframe.
CBK said that at the end of June, the agency network facilitated 18.7 Million transactions valued at Kshs. 93 Billion"
http://www.kenyainvestin...ort-top-5_1174.html?m=1


Agency banking is the next Mpesa.
Africa belongs to Africans.
mwenza
#13 Posted : Wednesday, November 07, 2012 10:51:38 AM
Rank: Elder

Joined: 4/22/2009
Posts: 2,863
guru267 wrote:
VituVingiSana wrote:
Member will be a-OK. Not 100% increases (year-on-year) like seen in the past but 30-50%


Try 12-15% growth in PAT.. They will be affected by the change in tax rate!!



Phenomenal Prediction.
IF YOU EXPECT ME TO POST ANYTHING POSITIVE ABOUT ASENO, YOU MAY AS WELL SIT ON A PIN
hisah
#14 Posted : Friday, November 30, 2012 3:01:07 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
CEO of Equity Bank Kenya named Forbes Africa 2012 Person of the Year | Beat Dangote, Elumelu & Others to Clinch the Award - http://bit.ly/QuqHdG


Quote:
James Mwangi, the CEO of Equity Bank, Kenya has been named the 2012 Forbes Africa Person of the Year by Forbes Magazine. Mwangi beat four other nominees to earn the honour during a ceremony held last night in Lagos.

Dr Mwangi was honored for playing a central role in making Equity Bank the largest bank in East and Central Africa, with more than seven million accounts in Kenya alone. He has also played a crucial role in ensuring banking services, including loans, are available to low income people who previously have in the past been left out of banking services.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
kryptonite
#15 Posted : Friday, November 30, 2012 4:03:54 PM
Rank: Member

Joined: 2/1/2010
Posts: 272
Location: Nairobi
After smooth CEO changeovers at NBK,BBK,KCB, I wonder what Jamo's succession plan is like...
The harder you work, the luckier you get
murchr
#16 Posted : Friday, November 30, 2012 4:39:51 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
kryptonite wrote:
After smooth CEO changeovers at NBK,BBK,KCB, I wonder what Jamo's succession plan is like...


Former KWS Director
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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