• About Us
  • Archives
  • SWG Registration
Samrack Media
Mahiga Homes
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events
No Result
View All Result
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events
No Result
View All Result
Samrack Media
No Result
View All Result

Equity Group’s Q3 Profits hit KSh 17.3 billion

samrack by samrack
November 12, 2019
in Africa, Business, Diaspora, Kenya, Kenya Diaspora News, News, U.S Diaspora
A A
0
Equity Group’s Q3 Profits hit KSh 17.3 billion
Share this
FacebookTwitterPinterestEmailWhatsAppLinkedIn

Equity Group’s Q3 Profits hit KSh 17.3 billion

Equity Group’s third-quarter earnings rose to KSh 17.3 billion at the end of September 2019 up from KSh 15.5 billion last year.

Equity Group is the first listed lender to announce its third-quarter results. The announcement has come soon after parliament voted to amend the Finance Bill 2019 and scrap the Rate Cap law.

In the first nine months of 2019, Equity Group posted an increase in net interest income to KSh 32.3 billion from KSh 29.56 billion reported in a similar period last year.

In a regime of credit squeeze to the retail sector, income from loans and advances to customers increased from KSh 25.8 billion to KSh 28.98 billion while total non-interest income increased from KSh 19.8 billion to KSh 22.5 billion.

This improved financial performance is against the backdrop of the Rate Cap law, which saw many lenders shift to safer havens such as Government paper.

The Group earnings in Fees and Commissions posted a marginal increase from KSh 4.27 billion to KSh 4.29 billion.

The lender’s balance sheet also grew in size to KSh 677.1 billion compared to KSh 560.3 billion last year.

Gross non-performing loans and advances grew from KSh 26.5 billion to KSh 30.6 billion while the Group’s net NPL exposure declined from Sh 2. 5 billion last year to KSh 922.7 million at the end of September this year.

When the NSE closed yesterday Equity Group Holdings shares traded at KSh 48.50.

Equity Group, with subsidiaries in Uganda, Tanzania, South Sudan, Rwanda and the Democratic Republic of the Congo, is considered one of the most profitable after state-owned KCB Group.

In its latest expansion sprees, Equity has roped in Atlas Mara Limited (ATMA) and is keen to buy the firm’s banking business in Zambia, Mozambique, Tanzania and Rwanda.

This deal includes buying 62 percent of Banque  Populaire du Rwanda, 100 percent of African Banking Corporation of Zambia, African Banking Corporation of Mozambique and African Banking Corporation of Tanzania.

The transaction requires approval from regulators and shareholders from the five countries involved.

Equity Bank Group has also commenced talks to buy a chunk of Banque Commerciale du Congo (BCDC), the second-largest commercial bank in the Democratic Republic of the Congo.

 

Tags: Equity Group’s Q3 Profits hit KSh 17.3 billion
Previous Post

Sunday service at Nyangati St. John Catholic church in Kutus, Kirinyaga County briefly disrupted

Next Post

Kenya Among Top Nations With Fastest Growth of Software Developers

Related Posts

Diaspora:How KEMEN  President, Anthony Kamnao “Cheated Death” after a gruesome accident
Diaspora

Diaspora:How KEMEN President, Anthony Kamnao “Cheated Death” after a gruesome accident

February 3, 2023
Death Announcement Of Eric Gakure of Worcester MA
Diaspora

Death Announcement Of Eric Gakure of Worcester MA

January 31, 2023
Ruto didn’t win August 2022 election, should resign – Raila
Kenya

Ruto didn’t win August 2022 election, should resign – Raila

January 28, 2023
Peter Francis Muhia Ndungu Of Brockton Massachusetts
Diaspora

Death Announcement of Peter Francis Muhia Ndungu Of Brockton Massachusetts

January 28, 2023
Diaspora

Canadian Embassy Wades into Kenyan-Canadian Nurse Lucy Njeri’s Alleged Murder Plot

January 26, 2023
US Man Involved in a $250 Million Fraud Scheme to Forfeit Properties He Acquired in Kenya
Business

US Man Involved in a $250 Million Fraud Scheme to Forfeit Properties He Acquired in Kenya

January 26, 2023
Next Post
Kenya Among Top Nations With Fastest Growth of Software Developers

Kenya Among Top Nations With Fastest Growth of Software Developers

Please login to join discussion
ADVERTISEMENT
ADVERTISEMENT
Royal Gardens Ngong Royal Gardens Ngong Royal Gardens Ngong
ADVERTISEMENT
KIBS VILLA HOMES:(ABNB) Relax into Luxury: Monthly ABNB rates are negotiable Call:508-479-1517 / 254714428680 KIBS VILLA HOMES:(ABNB) Relax into Luxury: Monthly ABNB rates are negotiable Call:508-479-1517 / 254714428680 KIBS VILLA HOMES:(ABNB) Relax into Luxury: Monthly ABNB rates are negotiable Call:508-479-1517 / 254714428680
ADVERTISEMENT

Latest News

Diaspora:How KEMEN President, Anthony Kamnao “Cheated Death” after a gruesome accident

Death Announcement Of Eric Gakure of Worcester MA

Ruto didn’t win August 2022 election, should resign – Raila

Death Announcement of Peter Francis Muhia Ndungu Of Brockton Massachusetts

Canadian Embassy Wades into Kenyan-Canadian Nurse Lucy Njeri’s Alleged Murder Plot

US Man Involved in a $250 Million Fraud Scheme to Forfeit Properties He Acquired in Kenya

Mizizi Africa Homes diversifies into land selling with ‘Buy, We Build’ Concept

Equity Bank’s Wings to Fly Scholarship selection process commences

Transition/Death Announcement of Christine Ntagengwa of Attleboro,Massachusetts

Women of Hope: Valentines Dinner: $70 P/Person 11 Feb 2023 Guest Speaker:Rev.Dr.G.G Gitahi Time 7PM EST

We are grateful for your monthly or one-off donations To Samrack Media: Cash App No: 781-888-8770 $SAMRACK001

Money

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency

by samrack
November 19, 2021
0

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency This week sees the launch of a new initiative to equip...

A simple guide to Government Bonds investing in Kenya

A simple guide to Government Bonds investing in Kenya

by samrack
September 17, 2021
0

A simple guide to Government Bonds investing in Kenya A treasury bond (T-bond) is a medium term to long term...

Politics

Ruto didn’t win August 2022 election, should resign – Raila

Ruto didn’t win August 2022 election, should resign – Raila

by samrack
January 28, 2023
0

Ruto didn't win August 2022 election, should resign - Raila According to Raila, Ruto did not win the August 9...

NEW SCARY DEVELOPMENTS IN KENYA

NEW SCARY DEVELOPMENTS IN KENYA

by samrack
January 21, 2023
0

NEW SCARY DEVELOPMENTS IN KENYA Will Martha Karua's case at the East African Court of Appeal, the new Ruto's revelation...

  • About Us
  • Archives
  • SWG Registration

© 2023 SAMRACK - Diaspora News & Updates; design by: Samrack.

No Result
View All Result
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events

© 2023 SAMRACK - Diaspora News & Updates; design by: Samrack.

Page generated in 1.011 seconds. Stats plugin by www.blog.ca