Equity half-year profit up 18pc... to 10B

[Nefertiti]

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More star performance... they even have DRC branch

By REUTERS

Equity Bank Group reported an 18 per cent rise in first-half net profit on Monday to Sh10.1 billion from Sh8.6 billion helped by higher net interest income.

Chief Executive Officer James Mwangi told an investor briefing that net interest income rose 37 per cent to Sh21.2 billion.

Equity, which focuses on the lower-income part of the Kenyan market, also operates in Uganda, South Sudan, Tanzania, Rwanda and Democratic Republic of Congo.

First-half customer deposits rose to Sh320.8 billion from Sh301.0 billion, Mwangi said.

The bank said the value of transactions on its mobile phone banking service, launched in July 2015, stood at Sh97.8 billion at the end of June versus Sh49.5 billion in July 2015.

It said its total assets rose to Sh444.4 billion from Sh400.9 billion a year earlier.

http://www.nation.co.ke/business/Equity-Bank-H1-net-earnings-up-18pc/996-3353668-nfo3okz/

[veritas]

I know the manager there. Stand up guy. When I was in trouble and out of cash because of no Barclays, without hesitation he gave me cash from his own pocket.

They have one of the best micro-financing loan schemes in the world. When I was at one of their branches, a mama walked in with a goat and both were ushered in for a micro-loan interview. Suffice to say she left with a smile on her face. Apparently she got a loan to raise more goats. It's a humanitarian kind of bank from my experience.

http://ke.equitybankgroup.com/business/products/business-loans/micro-finance-loans

[Nefertiti]

  Goat loan

[hk]

The real key income driver going forward is going to be equitel money. They've started dispersing loans and also collecting deposits cheaply via equitel money. Equity is one of the more costly banks in Kenya however its ruthlessly efficient in approving and dispensing loans which has enable it to grab marketshare from the other banks. Its return on capital is below 10% it shows its actually under-performing.

[Georgesoros]

Goat!!!
Do they still do that?

I know the manager there. Stand up guy. When I was in trouble and out of cash because of no Barclays, without hesitation he gave me cash from his own pocket.

They have one of the best micro-financing loan schemes in the world. When I was at one of their branches, a mama walked in with a goat and both were ushered in for a micro-loan interview. Suffice to say she left with a smile on her face. Apparently she got a loan to raise more goats. It's a humanitarian kind of bank from my experience.

http://ke.equitybankgroup.com/business/products/business-loans/micro-finance-loans