Equity Group has reported a 14% growth in profit after tax growth to Kshs 22.6 billion for the year ended 31st December 2019. The bank’s loan book grew by 23% to Kshs 366.4 billion its balance sheet rose by 17% to reach Kshs. 673.7 billion.
In a statement, the bank said net loans constituted 54% of the total assets while government securities and cash equivalents contributed 26% and 13% of the total asset allocation respectively.
The bank notes that it asset classes distribution across the market segments stands at; 59% SMEs, 22% consumers, 13% large enterprises and 3% each for micro and agriculture. Its risk profile is at 64% for local currency and 36% of foreign currency assets.
With a 14% growth in earnings per share of Kshs.5.93 up from Kshs 5.22, the bank’s Board of Directors proposed a 25% enhanced dividend payout of Kshs.2.50 up from Kshs.2.00 per share.
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