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Report of the DirectorsAs at 31st December 2007The directors have pleasure in submitting their report together with,the audited financial statements for the year ended 31 December2007 in accordance with Section 22 of the Banking Act and Section157 of the Kenyan Companies Act, which discloses the state of affairsof the Bank.1. ACTIVITIESThe Bank is engaged in the business of banking and provisionof financial services and is licensed by the Central Bank of Kenyaunder the Banking Act.2. RESULTSThe results for the year are set out on page 32.* Senegalese – Alternate to Peter Gachuba** Retired by rotation on 30th March 2007 and werere-elected*** Retired by rotation on 30th March 2007 and did not seekre- election**** British - Appointed on 21st December 2007Article 100 of the Articles of Association of the Bank provides forretirement of directors by rotation.6. AUDITORSThe auditors, Ernst & Young, have indicated their willingness tocontinue in office in accordance with Section 159(2) of the KenyanCompanies Act and subject to Section 24(1) of the Banking Act.3. RESERVESBy order of the BoardThe reserves of the Bank are set out on page 61, note 29 of thisreport.4. DIVIDENDSThe Board has recommended a dividend of 40% of par value(KShs 2.00 per share) subject to the approval of shareholders atthe Annual General Meeting. Helios EB Investors who becameshareholders on 21st December 2007 will not be entitled to anydividend for the year 2007.Mary Wangari WamaeCompany Secretary22nd May 20085. DIRECTORSThe directors who served during the year and to the date of thisreport are set out below:Peter Kahara Munga - ChairmanJames Njuguna Mwangi - Chief Executive/ManagingDirectorBenson Irungu Wairegi ** - Vice-chairmanFredrick Mwangi Muchoki **Peter Njeru GachubaWagane Diouf *Beatrice Makanga Sabana***Julius Kangogo Kipng’etichLinus Wang’ombe GitahiErnest Mattho NzovuBabatunde Temitope Soyoye****Temitope Olugbeminiyi Lawani****262007 Annual Report and Financial Statements
Ripoti ya WakurugenziKwa mwaka uliomalizika tarehe 31 Disemba 2007Wakurugenzi wanafuraha kuwasilisha ripoti yao pamoja na Taarifa yaHesabu za Pesa iliyokaguliwa kwa mwaka uliomalizika 31 Disemba2007 kulingana na kifungu cha 22 cha sheria za Benki na kifungu 157cha sheria za Makampuni nchini Kenya, ambazo zinabainisha hali yakifedha ya benki.1. SHUGHULIBenki inajishughulisha na biashara ya benki na utoaji hudumaza kifedha na imepewa leseni na Benki Kuu ya Kenya chini yakifungu cha sheria cha Benki.2. MATOKEOLinus Wang’ombe GitahiErnest Mattho NzovuBabatunde Temitope Soyoye****Temitope Olugbeminiyi Lawani***** Msenegalese – Anayebadilishana na Peter Gachuba** Alistaafu kwa zamu mnamo 30 Machi 2007 nakuchaguliwa upya*** Alistaafu kwa zamu mnamo30 Machi 2007 nahakujiwasilisha kuchaguliwa tena**** Mwingereza – Aliteuliwa tarehe 21 Disemba 2007Kifungu cha sheria cha 100 cha Katiba na Sheria za Kampunikinawezesha wakurugenzi kustaafu kwa zamu.Matokeo ya mwaka yamewekwa katika ukurasa wa 23.6. WAKAGUZI3. AKIBAAkiba za Benki zimewekwa katika ukurasa wa 61, ukumbusho 29wa ripoti hii.Wakaguzi wa hesabu za pesa, Ernst & Young, wamedhihirisha niayao ya kuendelea kufanya kazi hii kulingana na Sehemu 159(2) yaSheria za Makampuni nchini Kenya na kuambatana na Sehemu24(1) ya Sheria za Benki.4. MGAO WA FAIDAHalmashauri imependekeza mgao wa faida wa asilimia 40%kuambatana na thamani (ya shilingi 2 kwa kila hisa) iwapowenyehisa wataidhinisha kwenye Mkutano Mkuu wa Mwaka.Wawekezaji wa Helios EB ambao walijiunga kuwa wanachamamnamo tarehe 21 Disemba 2007 hawatapata mgao wowote wafaida wa mwaka wa 2007.5. WAKURUGENZIWakurugenzi ambao walihudumu wakati wa kipindi cha mwakahuo hadi wakati wa kutolewa ripoti hii wameorodheshwa hapochini:Kwa Amri ya HalmashauriMary Wangari WamaeKatibu wa Kampuni22 Mei 2008Peter Kahara MungaJames Njuguna MwangiBenson Irungu Wairegi **Fredrick Mwangi Muchoki **Peter Njeru GachubaWagane Diouf *Beatrice Makanga Sabana***Julius Kangogo Kipng’etich- Mwenyekiti- Afisa Mkuu Mtendaji/Mkurugenzi Mkuu- Naibu-Mwenyekiti2007 Annual Report and Financial Statements 27
Page 3: Notice of Annual General MeetingNot
Page 6: Chairman’s Statement continued“
Page 9 and 10: Taarifa ya Mwenyekiti inaendeleaZai
Page 11 and 12: Ceo’s Statement“ … the annual
Page 13 and 14: Taarifa ya Afisa Mkuu na Mkurugenzi
Page 16 and 17: Financial HighlightsGROWTH IN GROSS
Page 18 and 19: Key AchievementsAugust 2007 - Our u
Page 21 and 22: Statement on Corporate Social Respo
Page 23 and 24: Board of DirectorscontinuedPeter Ga
Page 25: Senior ManagementPeter Makau, Direc
Page 30 and 31: Statement of Directors Responsibili
Page 33 and 34: Balance SheetAs at 31st December 20
Page 35 and 36: Statement of Changes in EquityFor t
Page 37 and 38: Notes to the Financial StatementsFo
Page 53: Notes to the Financial StatementsFo
Page 58: Notes to the Financial StatementsFo
Page 67 and 68: Countrywide Branch NetworkHEAD OFFI
Page 69 and 70: Notes / Maelezo2007 Annual Report a
Page 71 and 72: Proxy FormThe Company SecretaryEqui

Contents - Equity Bank Group

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