EQUITY OUTDOES ITSELF AGAIN

From its humble beginnings in the 80’s in Central Province to its listing at the NSE, one thing is clear, that Equity has indeed come a long way. It’s also true that this is one stock to watch in the financial segment of NSE, and a good bet for short to long term growth.

The recently released financial report attests to this. Have a Look:

Pretax profit Ksh176M to Ksh503M up 186%,
Income from commissions & fees Ksh336M to Ksh673M,
Operating Income Ksh611M to Ksh1.17B up 92%,
Customer Deposits Ksh9.4B to Ksh20.2B up 112%,
Customer Accounts 668,449 to 1.15M accounts – 30% of all accounts in Kenya.
Loans and Advances Ksh7.1B to Ksh13.8B
Overhead Expenses Ksh434M to Ksh667M due to salary adjustments & additional staff.

The bank was in the last week rated by GCR of South Africa and had its long term upgrading in Kenya Shilling to A+ from A and Short term upgrading to Single A1 from A1(-).

In the last week, Equity has opened branches in Diani, Mombasa and Malindi.

Clearly, this is the bank to watch.