Kenya’s Equity Bank Monday reported an 18 per cent rise in profit after tax for the six months to June to Sh10.1 billion from Sh8.6 billion on improved borrowing.
The bank’s Chief Executive James Mwangi said that net interest income grew by 37 per cent to Sh21.2 billion.
The bank operates subsidiaries in Uganda, South Sudan, Tanzania, Rwanda and Democratic Republic of Congo.
The bank reported that deposits grew to Sh320.8 billion from Sh301.0 billion.
Kenyan Members of Parliament have endorsed a Bill aimed at capping interest rates which may reduce bank earnings.
The Bill is awaiting assent by the President.