Equity bank posts 'positive' 2021 quarter one results

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 reflecting the agility to redeploy funding seamlessly as the economies recover from the adverse impact of the Covid-19 multi-crisis.

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