Equity Bank has appointed Moses Okoth Nyabanda as the new acting Managing Director (MD) for the Kenyan unit pending regulatory approval from the Central Bank of Kenya.

He replaces Gerald Warui, who is going for an early retirement.

Before his appointment, Nyabanda served as the Equity Group Holdings Chief Finance & Strategy Execution Officer.

Similarly, he was the MD and Country Senior Partner for PricewaterhouseCoopers (PwC) in Rwanda and a PwC Eastern Africa leadership team member before joining Equity.

“The Board is confident that under Mr. Nyabanda’s leadership, Equity Bank Kenya will continue to deliver sustainable profitable growth, while enhancing our customer value proposition and employee engagement.”

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In the half year ending June, Equity Group’s profit after tax grew by 12 percent to Kes 29.6 billion compared to a similar period last year.

The lender attributed the performance to high-interest income and improved performance by regional subsidiaries.