From left, Equity BCDC Managing Director Celestin Muntuabu, Equity Group MD and CEO Dr James Mwangi and Equity Life Assurance (Kenya) Limited Managing Director Angela Okinda during the company's Q3 2023 investor briefing at its head office in Nairobi on November 20, 2023.
Equity Group has posted a 3.7 percent rise in net profit to Sh34.6 billion in the first nine months of trading from Sh33.4 billion, helped by subsidiaries despite the earnings in Kenya dipping by a fifth.
The growth in profit from businesses outside Kenya, excluding South Sudan, helped the group escape a decline in earnings despite its single largest contributor to profits—Equity Bank Kenya—posting a 20 percent drop in net profits to Sh19.34 billion.
