Dr James Mwangi, Equity Group CEO. [Wilberforce Okwiri, Standard]Equity Group has recorded after tax profit of Sh8.7billion in the first quarter of 2021 compared to Sh5.3billion same period last year, the lender said on Wednesday. Interest income grew by 32 per cent while non-funded income grew by 30 per cent to contribute 42 per cent of total income. Take a surveyOf the 31 per cent of the loan book, or Sh171 billion Covid-19 accommodated or rescheduled loan book, Sh59 billion has resumed repayment with Sh 5 billion fully repaid and Sh3 billion behind schedule in repayment. Sh66 billion is expected to resume repayment within six months by 30th September 2021.

Source: Standard Digital May 26, 2021 07:55 UTC