Equity Group has registered a 10 per cent growth in profit after tax to Sh17.46 billion from Sh15.83 billion in the third quarter supported by increased interest from lending. The Group’s net interest income grew by 10 per cent to Sh32.29 billion from Sh29.47 billion in the three months to September. Loans and advances to customers grew by Sh60.5 billion to Sh348.9 billion up from Sh288.4 billion reflecting a growth of 21 per cent. Non-funded income grew by 14 per cent to Sh22.54 billion up from Sh19.83 billion to lift total income by 11 per cent to Sh54.83 billion up from Sh49.3 billion. "The faster growth in total income above net interest income reflects the success of the strategic pursuit of the Group to grow quality income through non-funded income growth," Mwangi added.

Source: The Star November 12, 2019 09:36 UTC