Today Equity Bank is a remarkable institution. It has become the most highly capitalised bank in Kenya with total shareholders funds of more than $250 million as of March 2008, serving more than 2 million customers, through 76 branches and more than 350 ATMs. But in 1993, the Central Bank of Kenya confirmed that, as Equity Building Society, it was technically insolvent, had poor board supervision and inadequate management. This note outlines the success factors underlying this remarkable change.