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Browsing: Equity South Sudan
- The strong performance of key subsidiaries in Rwanda, DRC, and Kenya largely drove growth in customer deposits.
- Equity South Sudan emerged as a standout performer, posting a 48% jump in revenue.
- Collectively, the subsidiaries accounted for 55% of the group’s revenue and 58% of pre-provision operating profits.
In the six months to June 2024, regional lender Equity Group posted strong results amid a tough macroeconomic environment marked by high interest rates and currency woes.
An analysis of the Group’s performance shows that subsidiaries spread in Rwanda, the Democratic Republic of Congo (DRC), Kenya, and South Sudan played a pivotal role in bolstering its financial performance.
The subsidiaries’ performance helped cushion the lender from the impact of external pressures on the overall earnings.
Equity Group reported a 12.5 per cent year-on-year jump in net earnings, reaching $230.2 million (KSH29.62 billion) in the first half of 2024. This growth was underpinned by …