Equity Bank has reported its financials for the third quarter of 2018 with net income rising by 8.1 per cent to Sh 15.8 Billion.
The lender’s total interest income during the period grew by 8.6 per cent to Sh 38.4 Billion while net interest income rose by 7 per cent to Sh 30 Billion.
However, the total non-interest income declined by 7 per cent to Sh 20 Billion on the back of a 20 per cent decline in other income while foreign exchange income fell by 7.4 per cent to Sh 2.4 Billion.
Net loans and advances to customers grew 8.6 per cent to Sh 288 Billion while customer deposits went up by about 9 per cent to Sh 402 Billion.
During the period, the bank increased its investments in government paper by 24 per cent to Sh 159 Billion.
The Group’s total assets also increased by 8 per cent to Sh 560 Billion while liabilities increased by nearly 10 per cent to Sh 470 Billion.