wrongturn
Elder Lister
Interest income lifts Equity Q1 net profit by 33.7pc
Equity Group net profit for the first three months to March rose 36 percent to Sh11.86 billion.
www.businessdailyafrica.com
Equity Group net profit for the first three months to March rose 36 percent to Sh11.86 billion driven by strong growth in both interest and non-interest income.
The bank’s earnings rose from Sh8.72 billion recorded in a similar quarter in 2021.
Net interest income grew 31 percent to Sh26.67 billion in line with 28 percent growth in loan book to Sh623.56 billion.
Non-interest income, which is mainly derived from fees and commission, rose by 22 percent to Sh31.27 billion, giving the lender a high-income position.