The country’s biggest banks by assets made a net income of Sh26.3 billion in the review period compared to Sh14.8 billion a year.
The lender could post record net earnings of Sh35 billion for the full year ending December if it sustains the momentum, a move that could see it declare a dividend of more than Sh2.5 per share based on its new policy of distributing at least 30 percent of net income.
Equity suspended dividends in 2019 and 2020, citing the need to fortify its balance sheet at a time when it was still pursuing acquisitions in the region including in the Democratic Republic of Congo (DRC).
Equity Group #ticker:EQTY reported a 77.8 percent jump in net profit in the nine months to September on higher income from lending and transactions.
The country’s biggest banks by assets made a net income of Sh26.3 billion in the review period compared to Sh14.8 billion a year.
