Equity Bank Posts a 0.6% Increase in Profit After Tax to KES 17.3 Billion

Kenya’s Equity Bank Group has posted a 0.6% increase in full-year 2015 Profit After Tax of KES 17.3 Billion from 2014’s KES 17.2 Billion.

Highlights

Pretax profit rose to KES 24 Billion shillings ($236.6 million) from 22.4 billion shillings posted in 2014.

Net interest income rose to KES 34.1 billion shillings from 29.2 billion shillings posted the previous year.

Loan book rose to 269.9 billion shillings from 214.2 billion shillings while the ratio of non-performing loans to total loans fell to 3.3% from 4.2% in 2014.

Total assets rose to KES 428.1 billion shillings from KES 344.6 billion shillings, while customer deposits rose to 302.2 billion shillings from 245.6 billion shillings.

Dividend Payment

Equity Bank Board has recommended a dividend payout of KES 7.5 Billion which is equivalent to KES 2 per share.

Challanges,Future Prospects & South Sudan Market

The Bank’s CEO Dr James Mwangi said there were also challenges from a depreciation in regional currencies against the dollar and a slow performance at the lender’s business in South Sudan but noted that they had an exit strategy when the South Sudan Goverment devalued its currency by over 100%.

Related Post; Technology helps boost KCB’s FY-2015 pretax profit by 12% to Ksh 26.5 Billion

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Download EQUITY GROUP HOLDINGS LIMITED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENEDED 31ST DEC 2015.pdf

Africa Sokoni