Equity Group’s Profit Surges in Q3’2022 to 28pct

• This was largely attributable to a 32% and 25.6% uptick in Non-Funded Income (NFI) and Total Interest Income.

David Indeje is Khusoko’s Digital Editor, covering East African markets.
Equity Bank Branch Kimathi Street Nairobi_

Equity Group, Kenya’s biggest lender by assets, reported Ksh 34.4 billion in Q3 2022 Profit After Tax (PAT), a 28% year-on-year (YOY) increase compared to Q3 2021 (Ksh26.9 billion).

The Group recorded a 15% growth in assets to Kshs 1,363.7 billion in total assets, driven by a 15% growth in customer deposits of Kshs 1,007.3 billion to surpass Kshs 1 trillion for the first time in the history of the Group. Loans and Advances grew by 21% to reach Kshs.673.9 billion.

https://twitter.com/KeEquityBank/status/1594952958147436545?s=20&t=kjPfauU-vqvZGYIx93PR3A

“Deliberate and intentional strategic decisions have delivered better performance, and quality income mix and stronger balance sheet,” said Dr James Mwangi, the Group CEO & Managing Director, as he released the results Tuesday.

Equity Names Samuel Kirubi as Group Chief Operating Officer


 

 

 

David Indeje is Khusoko’s Digital Editor, covering East African markets.

In my role as Community Engagement Editor For Khusoko, I care about our audience. engaging them, getting news delivered to them across a variety of platforms, and expanding the diversity of voices on our website.

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