Hope for dividend boom after Sh244bn record banks profits
Equity Group CEO James Mwangi. The value of loans issued digitally by Equity Group rose to 19 per cent of total loans issued in the nine months to September last year.
Banks have reaped a record Sh244.1 billion in profit before tax for the full financial year ended December 31, 2022, driven by increased lending, setting the stage for payment of juicy dividends for shareholders.
Lending to the government through Treasury bills and bonds by banks grew by Sh196 billion in 2022, while loans extended to the private sector increased by Sh380 billion during the same period, according to data from the Central Bank of Kenya (CBK).
