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Equity’s first-quarter profit up 8 percent to Sh12.8 billion

Regional lender Equity Group has reported an eight percent jump in net earnings to Kes12.8 billion in the period ended March 30 on higher income. In the period under focus, the lender saw a 21 percent surge in interest income to close the quarter at Kes32.4 billion compared to Kes26.7 billion reported during the comparable quarter last year. “Customer deposits grew to Kes1.11 trillion up from Kes900 billion while the loan book grew to Kes756 billion up from Kes623 billion,” Equity Group CEO Dr James Mwangi said. Equity Group’s net loans went up by 21 percent to Kes756 billion from Kes623.6 billion. “Our NPL is…

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