Equity Group Managing Director James Mwangi. Equity had reported a Sh6.15 billion after-tax profit in a corresponding period last year. The move saw its total operating costs increase by nearly 50 per cent to Sh12.8 billion from Sh8.78 billion. As a result, Equity was forced to recall a Sh9.5 billion dividend payout the board had proposed to be paid to shareholders. SEE ALSO: Co-operative Bank reports Sh5.1 billion pre-tax profitKCB Group, Co-operative Bank and Family Bank have also seen their loan-loss provisions surge.

Source: Standard Digital May 28, 2020 15:16 UTC