29% growth in Balance Sheet to Kshs 1.305 trillion from Kshs 1.015 trillion
29% growth in customer deposits to Kshs 959 billion from Kshs 740.8 billion
Emerges the largest bank in Kenya and in the region by all key parameters: balance sheet, profitability, market capitalisation and customer base
Improvement in NPLs from 11% to 8.3% and increase of provision coverage from 89% to 98%
99% growth in Profit After Tax to Kshs 40.1 billion from Kshs 20.1 billion
98% growth in earnings per share to Kshs 10.40 from Kshs 5.20
Record dividend pay-out of Kshs 11.3 billion, a 50% increase from last dividend pay-out for 2018
Nairobi, Equity Centre 22 nd March 2022 –
"When COVID- 19 struck, Equity Group sought its true north, its purpose and commitment to support its members. The Board and Management decided to focus on saving lives and livelihoods, giving dignity, and expanding opportunities for wealth creation while keeping the lights of the economies on.
Against a backdrop of uncertainty, the Group focused on supporting customers and in the process increased and accelerated loan disbursements and growth by over 29% and 23% for the two years respectively while the economy was plummeting to a GDP growth rate of negative 0.1% from a high of 5.8%. Equity was committed to save the businesses of its customers while maintaining livelihoods. As the COVID-19 pandemic mutated into a social, humanitarian, and economic crisis, Equity Group rolled out social investments of Kshs 5.8 billion to complement Government’s health and social responses in the East and Central Africa region. Equity Group MD and CEO Dr. James Mwangi served on the Kenya National Emergency Response Fund for COVID-19 Board as Chairman of the Health Committee.
Equity Group Chairman Professor Isaac Macharia served as the Chairman of the Board’s Health Technical Advisory Committee while Dr. Joanne Korir, Equity Group Foundation’s Head of Health, served as the Committee Secretary. The Group leveraged on its Equity Afia clinic network to spearhead a COVID- 19 health awareness campaign for staff and customers, keeping the doors of its 51 clinics open and cumulatively recording over 701,000 patient visits. The Group, jointly with Mastercard Foundation and Dr. Mwangi’s family contributed Kshs 1.7 billion of which Kshs 1.3 billion went into the COVID-19 health response focused on building capacity, including repurposing and funding local manufacturers to establish PPE manufacturing facilities, and […]