Equity Bank has posted a slim 0.6 per cent net profit growth in its 2015 full year financial results. The bank’s net profit crawled from Sh. 17.2 billion to Sh. 17.3 billion.
Equity’s net loans ad advances grew by 26 per cent to Sh. 269.9 billion, with 1.9 million customers applying for loans online. The bank’s stock brokerage arm recorded a profit growth of over 800 per cent.
The bank’s branch in DR. Congo contributed 6 per cent to the group’s assets. During the releasing of the results, Equity bank CEO James Mwangi revealed that it had issued 1.7 million Equitel sim cards by December 2015, over 90 per cent of which were active on mobile banking.
Following the results, the board of Equity bank recommended a dividend payout of Sh. 2 per share, equivalent to a total pay of Sh. 7.5 billion.
