Equity Bank: The Real Thing?

The Sanford C. Bernstein & Co. Center for Leadership and Ethics Case Series It seemed almost too good to be true: over a six-year period, Kenya's Equity Bank had grown its assets more than twentyfold and reached 5.9 million customers from fewer than half a million. Behind the bank's growth was a charismatic chief executive, who had a mission to provide banking to poor clients. His strategy was supported by technology investments, allowing the bank to expand services such as mobile banking and ATMs. But growth had slowed after 2007, prompting questions about whether Equity Bank had hit a saturation point amid a tough competitive landscape. In this case students examine Equity Bank's financial statements, the Kenyan banking industry, and the bank's culture to examine the implications of this slowdown and how it might impact the bank's strategy going forward.