EQUITY GROUP HOLDINGS PLC REPORTS HALF YEAR PROFIT AFTER TAX OF KSHS 29.6 BILLION

Against a backdrop of continued macroeconomic headwinds of high interest rates and volatile exchange rates across the markets that the Group operates in, Equity Group Holdings Plc (EGH) continues to demonstrate resilience, recording a balance sheet growth of 6% which is above the prevailing inflation rate of 4%, bringing its total assets as at 30th June 2024 to Kshs.1.75 trillion with the regional subsidiaries accounting for 49.7%.

· Total Assets grow by 6% to Kshs 1.75 trillion

· Deposits grow by 11% to Kshs 1.3 trillion

· Half-year profit after tax up by 12% to Kshs 29.6 billion

· Regional businesses contribute 49.7% of total assets and 50.2% of profit before tax for the period

· EGH continues product diversification with the receipt of a General Insurance license. — – Highest market capitalization in Sub-Saharan Africa.

From left to right: Equity Group Chief Finance Officer, Moses Nyabanda, Equity Group Managing Director and CEO, Dr. James Mwangi and Equity Group Chief Internal Auditor, Beth Kithinji, during the H1 2024 Investor Briefing event.

Equity Group Holdings has registered a 12% growth in profit after tax to Kshs. 29.6 billion for the period ended 30th June 2024 compared to a similar period last year. Deposits grew by 11% to Kshs. 1.3 trillion up from Kshs. 1.2 trillion while total assets grew by 6% to Kshs. 1.75 trillion up from Kshs. 1.64 trillion. Regional businesses contributed 49.7% of total assets and 50.2% of profit before tax for the period. The Group also diversified with the receipt of a General Insurance license and recorded highest market capitalization in Sub-Saharan Africa.

From left to right:  Equity Group Managing Director and CEO, Dr. James Mwangi and Sally Jepkorir, a shareholder, during the H1 2024 Investor Briefing event.

Equity Group Holdings has registered a 12% growth in profit after tax to Kshs. 29.6 billion for the period ended 30th June 2024 compared to a similar period last year. Deposits grew by 11% to Kshs. 1.3 trillion up from Kshs. 1.2 trillion while total assets grew by 6% to Kshs. 1.75 trillion up from Kshs. 1.64 trillion. Regional businesses contributed 49.7% of total assets and 50.2% of profit before tax for the period. The Group also diversified with the receipt of a General Insurance license and recorded highest market capitalization in Sub-Saharan Africa.

From left to right: Equity Life Assurance (Kenya) Limited Managing Director, Angela Okinda, Equity Group Managing Director and CEO, Dr. James Mwangi and Equity Group Chief Risk Officer, Sam Gitwekere, during the H1 2024 Investor Briefing event.

Equity Group Holdings has registered a 12% growth in profit after tax to Kshs. 29.6 billion for the period ended 30th June 2024 compared to a similar period last year. Deposits grew by 11% to Kshs. 1.3 trillion up from Kshs. 1.2 trillion while total assets grew by 6% to Kshs. 1.75 trillion up from Kshs. 1.64 trillion. Regional businesses contributed 49.7% of total assets and 50.2% of profit before tax for the period. The Group also diversified with the receipt of a General Insurance license and recorded highest market capitalization in Sub-Saharan Africa.

ADVERTISEMENT dalanews.co.ke https://g.page/r/CerTmAWCtzj4EBM/review ¬¬¬¬¬¬¬¬¬¬ÿÛ C