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Equity bank posts positive 2021 quarter one results
May 27, 2021 Written by NICHOLAS BAMULANZEKI Equity Group MD & CEO Dr. James Mwangi (centre), Equity Group Board Chair Prof. Isaac Macharia (left) & Equity Group Executive Director Mary Wamae
Kenya s biggest bank, Equity Group Holdings Plc has posted strong quarter one results showing a 54 per cent growth in total assets and 64 per cent in profit after tax.
The Group registered a balance sheet expansion of 54 per cent to reach Kshs 1.07 trillion driven by a 58 per cent growth in customer deposits underpinned by Kshs 140 billion shareholders’ funds.
A liquid balance sheet with Kshs 500 billion of cash, cash equivalents, and government securities refle