{"id":471429,"date":"2021-05-26T16:02:22","date_gmt":"2021-05-26T16:02:22","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=471429"},"modified":"2021-05-26T16:02:22","modified_gmt":"2021-05-26T16:02:22","slug":"kenya-equity-group-net-profit-grows-sharply-in-the-first-quarter-of-2021","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2021\/05\/26\/kenya-equity-group-net-profit-grows-sharply-in-the-first-quarter-of-2021\/","title":{"rendered":"Kenya: Equity Group net profit grows sharply in the first quarter of 2021"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p>Equity Group on Wednesday (May 26th) reported net income up 64% to 8.7 billion shillings (81 million USD), thanks to strong growth in interest and non-interest income.<\/p>\n<p>\u201cOur strategy, primary focus, inclusiveness, accessibility, reach, agility and quality have proven to be resilient and sustainable,\u201d said James Mwangi, Group CEO.<\/p>\n<p>Regarding net interest income, it increased by 28% to 14.8 billion shillings (138 million USD), in line with a 29% growth of the loan portfolio to 487.7 billion shillings (4.5 billion For its part, non-interest income rose 30% to 25.5 billion shillings (237 million USD), giving the lender a high income position.<\/p>\n<p>In addition, the banking establishment noted that its subsidiaries in Tanzania, Rwanda, Uganda and DR Congo recorded growth in their net income. This resulted in an increase in the group&#8217;s results. Regional subsidiaries now represent 40% of total deposits and total assets.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Equity Group on Wednesday (May 26th) reported net income up 64% to 8.7 billion shillings (81 million USD), thanks to strong growth in interest and non-interest income. \u201cOur strategy, primary focus, inclusiveness, accessibility, reach, agility and quality have proven to be resilient and sustainable,\u201d said James Mwangi, Group CEO. Regarding net interest income, it increased<\/p>\n","protected":false},"author":536116,"featured_media":471430,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[16158,11996],"tags":[16991,17576,53,17831],"class_list":{"0":"post-471429","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-bank","8":"category-finance-en","9":"tag-16991","10":"tag-equity-group","11":"tag-kenya","12":"tag-the-first-quarter","13":"post_format-post-format-aside","14":"pmpro-has-access"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Kenya: Equity Group net profit grows sharply in the first quarter of 2021 - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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