Equity Bank 2014 First Quarter Profit Up 21pc

(Last Updated On: April 17, 2014)

equity

Equity Bank has posted a 20.8% growth in net profit with figures standing at sh3.8 billion in the three months ending March. The bank’s profit mainly went up due to higher earnings from fees and commissions.

Equity Bank’s operating expenses did not experience any change but the interest expenses were up by 26% to stand at sh1.4 billion.

Analysts currently value the bank at sh42.3 per share (fair value) while its trading price is currently at sh32.25. So much room for growth.