Lending income rise boosts Equity profitEquity Group has posted a 10 per cent growth in its nine-month profit after tax to Sh17.46 billion. Group Chief Executive James Mwangi said yesterday the bank continued to register growth in both interest and non-interest income despite the effect of interest rate cap during the period under review. During the period under review, Equity Group saw interest income grow from Sh38 billion last year to Sh42 billion this year. Non-funded income similarly went up by 14 per cent from Sh19.8 billion last year to Sh22.54 billion this year. “We have developed a recipe for operating in the interest rate caps regime.”Do not miss out on the latest news.

Source: Standard Digital November 12, 2019 21:05 UTC