Equity Bank posts 24 percent profit growth in first quarter results

Equity Bank Group has posted a profit after tax of 19.1 billion shillings for the first quarter of the year, translating to a 24 percent growth in earnings. The bank’s subsidiaries also improved, contributing 50 percent of the lender’s deposits, up from 47 percent, while accounting for 54 percent of the lender’s loan uptake. Here is Jimmy Mbogoh with more on the lender’s performance.