VISION
"...to be the preferred micro finance services provider
contributing to the economic prosperity of Africa..."
MISSION
We mobilise resources and offer credit to maximise value
and economically empower the micro-finance clients by
offering customer–focused quality financial services.
POSITIONING
The Listening, Caring Financial Partner.
MOTTO
“... growing together in trust...”
CORE VALUES
• Professionalism
•
Integrity
• Creativity and Innovation
• Teamwork
• Unity of Purpose
• Respect and dedication to customer care
• Effective Corporate Governance
Financing a Working Nation
Table of CONTENTS
PAGE
Message from the Chairman
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1
Message from the CEO
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4
Financial Highlights
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8
Key Achievements
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10
Statement on CSR
(Corporate Social Responsibility)
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14
Report and Financial Statements
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22
We Partner
Equity has partnered with like-minded local
and international development partners to
further her mission and vision. These
partnerships have created opportunities for
capacity building and knowledge sharing.
We Care
As a socially responsible corporate citizen, Equity Bank
has been responsive to community needs.
We Listen
In our business approach we are market-led, innovative and
customer focused.
1
A n n u a l R e p o r t
a n d F i n a n c i a l S t a t e m e n t s 2 0 0 5
Trading Environment
The trading environment was favourable in 2005. The economy
performed well. Preliminary estimates by the Central Bank indicate
that the growth rate exceeded 5%. The financial environment was also
favourable. Inflation was falling for most of 2005, as the combined
effect of drought and crude oil prices that ignited inflation in the latter
half of 2004 dissipated. The inflation rate had fallen to 4% in October
2005, from a peak of 18% in October 2004, before rising again to 7.6%
by December as the effects of drought translated into higher food
prices. Interest rates were reasonably stable throughout the year with
the benchmark 91 day Treasury bill rate fluctuating marginally around
8%. In 2005, the shilling strengthe