Equity Bank Group Holdings Posts  Pre Tax Profit up 18pc to KSh 21.5Bn

Equity Bank Group Holdings has reported an 18 percent  rise in its Pre Tax Profit  to KSh21.5 billion from KSh18.14 billion in the corresponding 2015 period in its Quarter 3 period.

Dr. James Mwangi, Chief Executive Officer, attributed the positive results to their Innovative products  that have reduced the cost of doing business.

“We shall continue to focus on enhancing customer experience and managing relationships with our customers,” Said Mwangi.

Interest income grew by 26% to KSh 39.8billion while interest expense grew by 25% to KSh 7.5billion as at Q3 2016

Gross loans for the Group grew  from KSh 274.9billion to KSh 282.9billion between Sept 2015 to Sept 2016.

Total Deposits for the Group grew from KSh 317 billion in Sept 2015 to KSh 331.4billion in Sept 2016

The Group assets grew to close at KSh 468  billion as at Sept 2016 from KSh 445.8billion in Sept 2015. This was driven by a stable deposit base.

Related: Digitizing the Banking Sector The Equity Bank Way