Equity Bank changes tack in growth plan as rate cap bites

Equity Centre that houses Equity Bank offices at Upper Hill. Photo:Wilberforce Okwiri

In the past decade, Equity Bank made its billions by largely focusing on the unbanked poor or the low-end market. They include watchmen, grocery sellers, small-scale farmers and the general informal sector.

This is the category Equity listed as typical customers - with cheap savings accounts and microloans backed by unusual guarantees.