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  1. Homepage
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  7. Summary
    EQTY   KE0000000554

EQUITY GROUP HOLDINGS PLC

(EQTY)
  Report
End-of-day quote. End-of-day quote Nairobi Stock Exchange - 07/28
48.15 KES   -0.72%
05/28EQUITY : Registers 14% dip in profit after tax on kshs 3 billion provisions on loans
PU
05/26EQUITY : Investor Presentation Q1 2021
PU
05/26Kenyan lender Equity Group's Q1 profit surges 67%
RE
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Equity : Financial Statements as at 31st March 2021

05/10/2021 | 06:00pm EDT

EQUITY GROUP HOLDINGS PLC UN-AUDITED FINANCIAL STATEMENTS

AND OTHER DISCLOSURES FOR THE PERIOD ENDED 31ST MARCH 2021

EQUITY BANK (KENYA) LIMITED

EQUITY GROUP HOLDINGS PLC

BANK

COMPANY

GROUP

STATEMENT OF FINANCIAL POSITION AS AT

31st Mar

31st Dec

31st Mar

31st Mar

31st Dec

31st Mar

31st Mar

31st Dec

31st Mar

2020

2020

2021

2020

2020

2021

2020

2020

2021

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

A.

ASSETS

Un-Audited

Audited

Un-Audited

Un-Audited

Audited

Un-Audited

Un-Audited

Audited

Un-Audited

1. Cash (both local & foreign)

10,691,593

13,027,022

12,144,613

13,056,741

8,818,038

8,862,544

24,702,503

44,484,008

41,256,194

2.

Balances due from Central Bank of Kenya

15,375,969

16,633,521

16,237,082

-

-

-

15,375,969

16,633,521

16,237,082

3. Kenya Government and other securities held for dealing

purposes

-

-

-

-

-

-

-

-

-

4. Financial assets at fair value through profit and loss

-

-

-

-

-

-

-

-

-

5.

Investment securities:

173,241,943

195,157,006

234,854,002

-

-

-

189,878,441

217,407,885

258,948,036

a)

Held to maturity:

15,813,900

13,390,327

13,099,792

-

-

-

18,660,039

15,842,417

15,534,961

a. Kenya Government securities

15,196,620

13,390,327

13,099,792

-

-

-

15,196,620

13,390,327

13,099,792

b. Other securities

617,280

-

-

-

-

-

3,463,419

2,452,090

2,435,169

b)

Available for sale:

157,428,043

181,766,679

221,754,210

-

-

-

171,218,402

201,565,468

243,413,075

a. Kenya Government securities

142,385,141

162,290,072

169,836,898

-

-

-

142,385,141

162,309,318

169,856,144

b. Other securities

15,042,902

19,476,607

51,917,312

-

-

-

28,833,261

39,256,150

73,556,931

6. Deposits and balances due from local banking institutions

2,579,500

9,516,400

2,000,000

-

-

-

15,472,363

29,543,160

59,709,402

7.

Deposits and balances due from banking institutions abroad

8,793,030

80,808,444

89,209,007

-

-

-

19,616,267

156,432,181

123,787,942

8.

Tax recoverable

-

-

-

-

54,326

54,326

115,701

279,439

249,227

9. Loans and advances to customers (net)

284,234,137

313,065,151

322,515,520

-

-

-

379,215,389

477,847,189

487,736,312

10.

Balances due from group companies

78,825

612,423

452,153

-

-

-

-

-

-

11.

Investments in associates

-

-

-

-

-

-

-

-

-

12.

Investments in subsidiary companies

-

-

-

70,193,742

80,451,544

80,451,544

-

-

-

13.

Investments in joint ventures

-

-

-

-

-

-

-

-

-

14. Investment properties

-

-

-

-

-

-

-

5,575,912

5,465,510

15.

Property and equipment

5,727,060

5,334,684

5,433,424

12,516

11,814

11,521

11,374,618

15,903,898

15,905,974

16.

Prepaid lease rentals

-

-

-

-

-

-

-

-

-

17.

Intangible assets

6,708,922

6,496,942

6,664,649

-

-

-

7,713,921

9,621,193

9,543,466

18.

Deferred tax asset

6,016,906

11,268,837

11,229,896

84,481

90,055

90,055

7,469,869

13,206,930

13,108,082

19.

Retirement benefit asset

-

-

-

-

-

-

-

-

-

20. Other assets

17,238,373

15,729,337

17,236,287

248,100

550,967

550,967

22,250,654

28,157,999

34,494,752

21. TOTAL ASSETS

530,686,258

667,649,767

717,976,633

83,595,580

89,976,744

90,020,957

693,185,695

1,015,093,315

1,066,441,979

  1. LIABILITIES

22.

Balances due to Central Bank of Kenya

-

-

-

-

-

-

-

-

-

23.

Customer deposits

369,890,884

420,236,822

431,449,035

-

-

-

499,328,941

740,197,229

789,943,370

24.

Deposits and balances due to local banking institutions

-

603,550

613,234

-

-

-

-

603,550

613,234

25.

Deposits and balances due to foreign banking institutions

29,541,007

75,907,728

121,590,296

-

-

-

-

-

-

26.

Other money market deposits

5,026,430

5,674,800

600,000

-

-

-

2,513,660

9,927,450

1,103,740

27.

Borrowed funds

39,832,786

64,279,082

63,412,842

-

10,937,529

11,089,759

52,593,634

87,220,864

88,449,389

28.

Balances due to group companies

26,319

153,152

14,245

3,666,124

20,830

98,595

-

-

-

29.

Tax payable

3,355,773

720,990

2,816,549

38,789

-

-

4,169,437

1,640,859

4,235,604

30.

Dividends payable

-

-

-

-

-

-

-

-

-

31.

Deferred tax liability

-

-

-

-

-

-

138,590

1,338,555

1,340,669

32.

Retirement benefit liability

-

-

-

-

-

-

-

2,404,916

2,407,093

33.

Other liabilities

10,384,570

13,376,223

11,071,351

436,567

420,000

422,003

18,037,912

33,119,092

37,911,240

34.

TOTAL LIABILITIES

458,057,769

580,952,347

631,567,552

4,141,480

11,378,359

11,610,357

576,782,174

876,452,515

926,004,339

  1. SHAREHOLDERS' FUNDS

35.

Paid up / assigned capital

30,000,000

30,000,000

30,000,000

1,886,837

1,886,837

1,886,837

1,886,837

1,886,837

1,886,837

36.

Share premium / (discount)

9,964,132

9,964,132

9,964,132

16,062,607

15,325,264

15,325,264

16,062,607

15,325,264

15,325,264

37.

Revaluation reserve

1,246,547

5,160,545

(2,272,995)

-

-

-

(7,816,667)

(4,378,592)

(11,305,803)

38.

Retained earnings / accumulated losses

31,417,810

41,572,743

48,717,944

61,504,656

61,386,284

61,198,499

104,433,749

118,765,898

127,395,841

39.

Statutory loan loss reserve

-

-

-

-

-

738,780

576,960

576,960

40.

Other reserves

-

-

-

-

-

-

-

-

41.

Proposed dividends

-

-

-

-

-

-

-

-

-

42.

Non controlling interests

-

-

-

-

-

-

1,098,215

6,464,433

6,558,541

43.

TOTAL SHAREHOLDERS' FUNDS

72,628,489

86,697,420

86,409,081

79,454,100

78,598,385

78,410,600

116,403,521

138,640,800

140,437,640

44.

TOTAL LIABILITIES AND SHAREHOLDERS' FUNDS

530,686,258

667,649,767

717,976,633

83,595,580

89,976,744

90,020,957

693,185,695

1,015,093,315

1,066,441,979

STATEMENT OF COMPREHENSIVE INCOME

1. INTEREST INCOME

1.1

Loans and advances

7,293,372

34,069,068

8,850,330

-

-

-

10,767,246

52,033,992

14,164,207

1.2

Government securities

4,156,241

19,086,254

5,225,834

-

-

-

4,516,558

20,936,048

5,876,752

1.3

Deposits and placements with banking institutions

106,398

247,435

82,650

255,095

422,924

38,847

119,210

548,485

271,985

1.4

Other interest Income

16,386

246,308

12,735

-

-

-

20,198

246,308

28,418

1.5

Total interest income

11,572,397

53,649,065

14,171,549

255,095

422,924

38,847

15,423,212

73,764,833

20,341,362

2. INTEREST EXPENSES

2.1

Customer deposits

2,443,905

10,602,273

2,678,481

-

-

-

2,821,123

13,717,169

4,163,045

2.2

Deposits and placements from banking institutions

7,101

69,538

22,267

-

-

-

130,191

1,324,960

308,608

2.3

Other interest expense

747,591

2,956,656

770,624

-

12,529

142,775

926,737

3,573,913

1,051,364

2.4

Total interest expenses

3,198,597

13,628,467

3,471,372

-

12,529

142,775

3,878,051

18,616,042

5,523,017

3.

NET INTEREST INCOME

8,373,800

40,020,598

10,700,177

255,095

410,395

(103,928)

11,545,161

55,148,791

14,818,345

4. NON-INTEREST INCOME

4.1 Fees and commissions income on loans & advances

1,284,960

5,770,609

1,452,169

-

-

-

1,401,477

6,619,616

1,656,485

4.2

Other fees and commissions income

2,664,907

8,384,805

2,091,237

-

-

-

4,002,812

16,052,314

4,910,995

4.3

Foreign exchange trading income

695,548

3,690,302

807,407

-

-

-

1,094,954

6,210,112

2,000,715

4.4

Dividend income

-

-

-

100,000

606,800

-

-

-

-

4.5

Other income

1,006,254

5,932,193

1,481,654

32,326

10,046

(2,085)

1,813,918

9,626,039

2,294,952

4.6

Total non-interest income

5,651,669

23,777,909

5,832,467

132,326

616,846

(2,085)

8,313,161

38,508,081

10,863,147

5.

TOTAL OPERATING INCOME

14,025,469

63,798,507

16,532,644

387,421

1,027,241

(106,013)

19,858,322

93,656,872

25,681,492

6. OPERATING EXPENSES

6.1

Loan loss provision

2,629,002

23,357,937

888,328

-

-

-

3,116,721

26,631,273

1,268,178

6.2

Staff costs

2,033,679

9,694,384

2,065,730

4,705

28,328

2,085

3,233,191

15,418,429

4,026,054

6.3

Directors' emoluments

4,478

22,685

7,257

5,096

24,906

8,982

21,714

123,778

52,949

6.4

Rental charges

58,342

212,461

47,669

-

3,530

-

100,858

377,478

148,925

6.5

Depreciation on property and equipment

758,079

2,897,288

674,469

413

1,797

437

1,236,542

5,349,609

1,322,394

6.6

Ammortisation charges

251,133

1,014,002

253,763

-

-

-

321,481

1,251,548

483,670

6.7

Other operating expenses

3,296,454

12,392,407

3,312,674

23,351

753,238

70,268

4,824,154

23,512,357

6,674,168

6.8

Total operating expenses

9,031,167

49,591,164

7,249,890

33,565

811,799

81,772

12,854,661

72,664,472

13,976,338

7.

Profit / (loss) before tax and exceptional items

4,994,302

14,207,343

9,282,754

353,856

215,442

(187,785)

7,003,661

20,992,400

11,705,154

EQUITY GROUP HOLDINGS PLC UN-AUDITED FINANCIAL STATEMENTS

AND OTHER DISCLOSURES FOR THE PERIOD ENDED 31ST MARCH 2021

EQUITY BANK (KENYA) LIMITED

EQUITY GROUP HOLDINGS PLC

BANK

COMPANY

GROUP

STATEMENT OF COMPREHENSIVE INCOME

31st Mar

31st Dec

31st Mar

31st Mar

31st Dec

31st Mar

31st Mar

31st Dec

31st Mar

2020

2020

2021

2020

2020

2021

2020

2020

2021

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Un-Audited

Audited

Un-Audited

Un-Audited

Audited

Un-Audited

Un-Audited

Audited

Un-Audited

8.0 Exceptional items-Gain on bargain purchase

-

-

-

-

-

-

-

1,177,390

-

9.

Profit / (loss) after exceptional items

4,994,302

14,207,343

9,282,754

353,856

215,442

(187,785)

7,003,661

22,169,790

11,705,154

10.0

Current tax

(2,098,291)

(7,599,106)

(2,098,612)

(76,157)

(61,687)

-

(2,671,465)

(10,306,675)

(2,945,108)

11.0

Deferred tax

952,629

7,395,831

(38,941)

-

5,574

-

992,727

8,236,431

(35,995)

12. Profit / (loss) after tax and exceptional items

3,848,640

14,004,068

7,145,201

277,699

159,329

(187,785)

5,324,923

20,099,546

8,724,051

12.1

Minority Interest

-

-

-

-

-

-

(40,833)

(310,148)

(94,108)

13.

Profit / (loss) after tax and exceptional items and interest

3,848,640

14,004,068

7,145,201

277,699

159,329

(187,785)

5,284,090

19,789,398

8,629,943

14.

Other comprehensive income

14.1 Gains / (losses) from translating the financial statements of

foreign operations

-

-

-

-

-

-

398,823

(224,348)

534,645

14.2 Fair value changes in available for sale financial assets

(1,134,366)

2,779,632

(7,433,540)

-

-

-

(1,096,890)

2,964,356

(7,461,856)

14.3 Revaluation surplus on property and equipment

-

-

-

-

-

-

-

-

-

14.4 Share of other comprehensive income of associates

-

-

-

-

-

-

-

-

-

14.5

Income tax relating to components of other comprehensive

income

-

-

-

-

-

-

-

-

-

15. Other comprehensive income for the year net of tax

(1,134,366)

2,779,632

(7,433,540)

-

-

-

(698,067)

2,740,008

(6,927,211)

16. Total comprehensive income for the year

2,714,274

16,783,700

(288,339)

277,699

159,329

(187,785)

4,626,856

22,839,554

1,796,840

EARNINGS PER SHARE- BASIC & DILUTED

128.29

466.80

238.17

0.07

0.04

(0.05)

1.41

5.24

2.29

DIVIDEND PER SHARE -DECLARED

-

-

-

-

-

-

-

-

-

OTHER DISCLOSURES

  1. NON-PERFORMINGLOANS AND ADVANCES

a)

Gross non performing loans and advances

32,166,812

42,824,644

43,997,552

-

-

-

44,648,014

59,392,899

63,485,148

b)

Less interest in suspense

4,512,192

6,157,258

6,727,648

-

-

-

5,381,185

8,765,884

7,724,853

c)

Total non-performing loans and advances (a-b)

27,654,620

36,667,386

37,269,904

-

-

-

39,266,829

50,627,015

55,760,295

d)

Less loan loss provision

11,621,681

22,350,223

22,069,560

-

-

-

15,078,139

28,296,995

27,508,847

e) Net non- performing loans (c-d)

16,032,939

14,317,163

15,200,344

-

-

-

24,188,690

22,330,020

28,251,448

f)

Discounted value of securities

14,834,534

14,317,163

15,200,344

-

-

-

22,082,387

22,330,020

28,251,448

g) Net NPLs exposure (e-f)

1,198,405

-

-

-

-

-

2,106,303

-

-

  1. INSIDER LOANS AND ADVANCES

a)

Directors, shareholders and associates

3,180,962

4,635,346

4,782,919

-

-

-

3,366,758

5,484,014

5,272,890

b) Employees

4,997,314

5,776,376

5,938,347

-

-

-

6,503,435

7,919,910

8,521,838

c)

Total insider loans and advances and other facilities

8,178,276

10,411,722

10,721,266

-

-

-

9,870,193

13,403,924

13,794,728

  1. OFF BALANCE SHEET ITEMS

a)

Letter of credit, guarantees and acceptances

76,635,876

73,879,069

74,200,975

-

-

-

93,159,724

104,002,031

98,200,699

b)

Forwards,swaps and options

40,321,292

35,124,888

30,557,250

-

-

-

40,321,292

35,124,888

30,557,250

c)

Other contigent liabilities

-

-

-

-

-

-

-

-

-

d)

Total contigent liabilities

116,957,168

109,003,957

104,758,225

-

-

-

133,481,016

139,126,919

128,757,949

  1. CAPITAL STRENGTH

a)

Core capital

63,440,715

70,268,038

73,879,580

-

-

-

109,148,317

119,668,525

125,159,768

b)

Minimum statutory capital

1,000,000

1,000,000

1,000,000

-

-

-

4,173,124

4,173,124

4,173,124

c)

Excess / (defficiency)

62,440,715

69,268,038

72,879,580

-

-

-

104,975,193

115,495,401

120,986,644

d)

Supplementary capital

21,060,000

21,850,000

21,870,000

-

-

-

21,843,884

33,609,907

33,677,458

e)

Total capital (a+d)

84,500,715

92,118,038

95,749,580

-

-

-

130,992,201

153,278,432

158,837,226

f)

Total risk weighted assets

503,597,408

566,959,169

620,198,018

-

-

-

623,443,415

809,585,432

880,037,514

RATIOS

g) Core capital / total deposit liabilities

15.9%

14.1%

13.3%

-

-

-

21.9%

16.2%

15.8%

h)

Minimum statutory ratio

8.0%

8.0%

8.0%

-

-

-

8.0%

8.0%

8.0%

i)

Excess / (deficiency) (g-h)

7.9%

6.1%

5.3%

-

-

-

13.9%

8.2%

7.8%

j)

Core capital / total risk weighted assets

12.6%

12.4%

11.9%

-

-

-

17.5%

14.8%

14.2%

k)

Minimum statutory ratio

10.5%

10.5%

10.5%

-

-

-

10.5%

10.5%

10.5%

l)

Excess / (deficiency) (j-k)

2.1%

1.9%

1.4%

-

-

-

7.0%

4.3%

3.7%

m) Total capital/ total risk weighted assets

16.8%

16.2%

15.4%

-

-

-

21.0%

18.9%

18.0%

n)

Minimum statutory ratio

14.5%

14.5%

14.5%

-

-

-

14.5%

14.5%

14.5%

o) Excess / (deficiency) (m-n)

2.3%

1.7%

0.9%

-

-

-

6.5%

4.4%

3.5%

p) Adjusted core capital / total deposit liabilities*

16.0%

14.2%

13.4%

-

-

-

22.2%

16.2%

15.9%

q) Adjusted core capital / total risk weighted assets*

12.7%

12.5%

12.0%

-

-

-

17.8%

14.8%

14.3%

r) Adjusted total capital / total risk weighted assets*

16.9%

16.3%

15.5%

-

-

-

21.3%

19.0%

18.1%

  1. LIQUIDITY

a)

Liquidity ratio

54.9%

73.1%

81.5%

-

-

-

51.6%

59.3%

60.6%

b)

Minimum statutory ratio

20.0%

20.0%

20.0%

-

-

-

20.0%

20.0%

20.0%

c) Excess / (deficiency) (a-b)

34.9%

53.1%

61.5%

-

-

-

31.6%

39.3%

40.6%

*The adjusted capital ratios include the expected credit loss provisions added back to capital in line with the

CBK guidance note issued in April 2018 on implementation of IFRS 9. These financial statements are extracts

from the books of the institution. The complete set of financial statements, statutory and qualitative disclosures

can be accessed on the Institution's website www.equitygroupholdings.com. They may also be accessed at the

2020

institution's head office located at

Equity Centre, 9th floor, Hospital Road Upper Hill.

Bank of the Year 2020

• Best Bank in Africa

• Position 20 globally on Return on

• Bank of the Year - Kenya

Africa's SME Bank of the Year, 2020

• Best Digital Bank in Africa

Assets

• Bank of the Year - Uganda

• Excellence in Leadership in Africa

• Position 62 globally on

• Bank of the Year - South Sudan

Soundness (Capital Assets Ratio)

• Position 55 globally on Profits on

Capitals

Signed.................................................................

Signed.................................................................

• Position 754 Largest Bank

Globally

Dr. James Mwangi, CBS

Mrs. Mary Wamae

Group Managing Director & CEO

Group Executive Director

Equity Bank (Kenya) Limited and Equity Group Holdings Plc are regulated by the Central Bank of Kenya.

Disclaimer

Equity Group Holdings Limited published this content on 11 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 May 2021 07:44:04 UTC.


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Sales 2021 107 B 985 M 985 M
Net income 2021 32 318 M 298 M 298 M
Net Debt 2021 - - -
P/E ratio 2021 5,50x
Yield 2021 5,89%
Capitalization 182 B 1 673 M 1 675 M
Capi. / Sales 2021 1,70x
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Nbr of Employees 7 119
Free-Float 77,4%
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Number of Analysts 11
Last Close Price 48,50 KES
Average target price 49,18 KES
Spread / Average Target 1,40%
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James Njuguna Mwangi Group CEO & Non-Independent Executive Director
David Ngata Group Director-Finance
Isaac Muthure Macharia Non-Executive Chairman
Lanre Bamisebi Group Chief Information Officer
Evelyn Kamagaju Rutagwenda Independent Non-Executive Director