Equity Bank Reports 21% Growth in Q1 Earnings
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.
* 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