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    EQTY   KE0000000554

EQUITY GROUP HOLDINGS PLC

(EQTY)
  Report
End-of-day quote. End-of-day quote Nairobi Stock Exchange - 07/23
47.85 KES   -0.31%
05/28EQUITY : Registers 14% dip in profit after tax on kshs 3 billion provisions on loans
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05/26EQUITY : Investor Presentation Q1 2021
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05/26Kenyan lender Equity Group's Q1 profit surges 67%
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Kenyan lender Equity Group's Q1 profit surges 67%

05/26/2021 | 03:01am EDT
FILE PHOTO: Equity Bank's Chief Executive Officer James Mwangi addresses investors at the Equity Bank headquarters in the Upper Hill district of Nairobi

NAIROBI (Reuters) - Equity Group, Kenya's biggest lender by customers, on Wednesday posted a 67% jump in its pretax profit for the first quarter to 11.70 billion shillings ($108.69 million), after provisions for bad debts more than halved.

Lenders in the East African nation boosted provisions for defaults in the first quarter of last year, after the onset of the coronavirus crisis forced the central bank to authorise loan restructurings for distressed borrowers.

Those loan restructurings ended earlier this year.

The bank's income from transactions increased by nearly a third to 10.7 billion shillings, Equity Group CEO James Mwangi told an investor briefing.

"This means the bank has bounced back to pre-COVID days," he said.

Staff costs at Equity, which also operates in neighbouring Uganda and Tanzania, dropped by about 800 million shillings from a year earlier, the group said.

($1 = 107.6500 Kenyan shillings)

(Reporting by Omar Mohammed and Duncan Miriri; Editing by Shri Navaratnam and Devika Syamnath)


© Reuters 2021
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Financials
Sales 2021 107 B 987 M 987 M
Net income 2021 32 318 M 299 M 299 M
Net Debt 2021 - - -
P/E ratio 2021 5,43x
Yield 2021 5,97%
Capitalization 181 B 1 667 M 1 669 M
Capi. / Sales 2021 1,69x
Capi. / Sales 2022 1,43x
Nbr of Employees 7 119
Free-Float 77,4%
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Mean consensus OUTPERFORM
Number of Analysts 11
Last Close Price 47,85 KES
Average target price 49,18 KES
Spread / Average Target 2,77%
EPS Revisions
Managers and Directors
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