Equity Group Holdings on Tuesday reported pretax profit of Ksh.51.0 billion ($397 million) for the first nine months of 2024.
The record profit is up from Ksh.45.9 billion in the same period a year earlier.
Equity Group is Kenya’s largest lender by customers and also operates in Uganda, Tanzania, Rwanda, Burundi, South Sudan and Democratic Republic of Congo.
Equity said its net interest income rose to Ksh.80.59 billion, from Ksh.72.6 billion in the year-ago period.
During the release of financials, Equity Group Managing Director Dr. James Mwangi said “despite operating in a challenging environment, Equity Group remains committed to sustainable practices. Our recently unveiled Sustainability Report highlights the Group’s strategic approach to embedding sustainability.
Also Read: Equity Bank Increases Cost of Loan to 18.24%
As an early adopter of the Taskforce for Nature-related Financial Disclosures (TNFD) framework in Africa, and the Africa Natural Capital Alliance (ANCA) the Group is not only focused on sustainable customer solutions but also actively supports nature restoration, having achieved the significant milestone of planting 30 million trees.”
The bank is also on course to lead in climate finance by extending over $200 million in climate finance initiatives.
