Equity Group web revenue in Q3 grows to Ksh 40.9B

Equity Group made Ksh 40.9 billion in web revenue through the first 9 months of this yr pushed by an 11PC development in curiosity revenue.

However, gross non-performing loans and advances elevated by 0.7pc to Ksh 125.3 billion whereas non-funded revenue elevated marginally to Ksh 58.3 billion and web curiosity revenue hit Ksh 80.6 billion pushing whole curiosity revenue to Ksh 138.9 billion.

Net non-preforming loans stood at Ksh 54 billion additionally marginally reducing from Ksh 58 billion beforehand as non performing loans protection stood at 67.1pc.

Operating bills elevated 27pc to Ksh 54 billion the chunk of which was pushed by workers prices at Ksh 23.9 billion.

Interest expense grew by 18pc at Ksh 43.5 billion with curiosity revenue rising by 13pc at Ksh 125.9 billion.

Customer deposits elevated 9pc to Ksh 1.3 trillion which in flip led to a discount of borrowed funds from worldwide lenders by 64pc at Ksh 76.4 billion from Ksh 214 billion.

The lender didn’t declare any interim dividend to shareholders.