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.
Equity Group reports strong Q3 performance#Equity2022Q3Results pic.twitter.com/a5boGh41vG
— Equity Bank Kenya (@KeEquityBank) November 22, 2022
“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.
