Equity Bank will inherit over 20,000 depositors and 3,700 loan customers in the teachers-owned Spire Bank by November after signing a buyout deal that will see Mwalimu Sacco pay Sh1.7 billion to the top-tier lender.
The deal is expected to give Equity a new foothold in the race for the teachers' client base, with the purchase making it home to over 100,000 teachers accessing its services across the country.
