Thread by @MaudhuiHouse

“We have fortified and strengthened the breath and depth of our management, aligning it to strategy and execution, creating a two tier team” ~ Equity Group CEO James Mwangi
#Equity2021Q1Results

“ We could improve in the areas of credit management but our overall strategy has enabled us to jump faster than expected” ~ @KeEquityBank CEO Dr James Mwangi

#Equity2021Q1Results

“Non Funded Income has gone up by 30% to KES 10.7 B , up from KES 8.3 B during a similar period last year, this means that we have bounced back to our pre-covid days” ~ @KeEquityBank CEO Dr James Mwangi.

#Equity2021Q1Results

Investments in G overnment Securities up by 36% to KES 358.9 B up from KES 189.9 B

#Equity2021Q1Results

Deposits growth +58% KES .790.6 Bn, Loans growth +29% KES 487.7 billion.

#Equity2021Q1Results

“Assets up by 54% Ksh.1.066 trilion. Ultimately, its not the size that matters but the quality. We want to sweat our balance sheet so it can produce more” ~ @KeEquityBank CEO Dr James Mwangi.

#Equity2021Q1Results

Equity Group Profit After Tax (PAT) for the quarter ended March has grown by a notable 64 percent to KES.8.7 billion. The Group's revenue in the period was up 29% to KES.25.5 Billion.

#Equity2021Q1Results

“The future is here with us with 98% of our transactions outside the branch. The mobile phone is the most popular device, ATMs and branches are the most un-popular. This is a story of efficiency” ~ @KeEquityBank CEO Dr James Mwangi.

#Equity2021Q1Results

“Fixed cost channels are only two for us, for the rest, the customers are serving themselves and meeting the cost of investment. We were lucky to have predicted the future just before COVID-19” ~ Dr James Mwangi

#Equity2021Q1Results

“Our NPLs (Non Performing Loans) stand at 11.3% against an industry average of 14.6%” ~ Dr James Mwangi.

#Equity2021Q1Results

“We restructured KES.171bn of customer loans, customers have already resumed payments on KES.59 billion while an additional KES.66 billion in repayments resume in six months” ~ Dr James Mwangi, CEO @KeEquityBank

#Equity2021Q1Results

During the period, total costs up 8% to KES 13.8Bn from KES.12.7B. Earnings per share for the bank now at KES2.30 from KES1.40

#Equity2021Q1Results

“I can only summarize the performance in two words; ‘Resilience and Sustainable’ against a significant crisis” ~ Dr James Mwangi , CEO Equity Bank Group

#Equity2021Q1Results