Equity Group has announced a 21.4% increase in its Q1 2018 net profit to Sh 5.9 Billion up from sh 4.9 billion the previous year.
Key Highlights
- Customers’ deposits grew by 10% to sh 382.4 billion
- Total interest income was up 10.5% to sh 12.7 Billion
- Net interest income was up 10.5% to sh 9.8 Billion while Non-interest income grew by 6.0% to sh 6.7Billion
- Total operating expenses went up 4.3% to sh 7.8 Billion while loan loss provision expense declined 55% to sh 358.9 Million
- Profit Before Tax grew 20.7% to sh 8.3 Billion while net profit grew by 21.4% to Sh 5.9 Billion
- Net loans and advances +3.5% to Sh 271.1 Billion as Non Performing Loans declined by 7.2% to sh 18.1 Billion
