{"id":102062,"date":"2024-11-12T15:02:59","date_gmt":"2024-11-12T15:02:59","guid":{"rendered":"https:\/\/chezaspin.com\/blog\/index.php\/2024\/11\/12\/equity-group-net-profit-in-q3-grows-to-ksh-40-9b\/"},"modified":"2024-11-12T15:02:59","modified_gmt":"2024-11-12T15:02:59","slug":"equity-group-net-profit-in-q3-grows-to-ksh-40-9b","status":"publish","type":"post","link":"https:\/\/chezaspin.com\/blog\/equity-group-net-profit-in-q3-grows-to-ksh-40-9b\/","title":{"rendered":"Equity Group net profit in Q3 grows to Ksh 40.9B"},"content":{"rendered":"<p><strong>Equity Group made Ksh 40.9 billion in net profit during the first nine months of this year driven by an 11PC growth in interest income.<\/strong><\/p>\n<p>However, gross non-performing loans and advances increased by 0.7pc to Ksh 125.3 billion while non-funded income increased marginally to Ksh 58.3 billion and net interest income hit Ksh 80.6 billion pushing total interest income to Ksh 138.9 billion.<\/p>\n<p>Net non-preforming loans stood at Ksh 54 billion also marginally decreasing from Ksh 58 billion previously as non performing loans coverage stood at 67.1pc.<\/p>\n<p>Operating expenses increased 27pc to Ksh 54 billion the chunk of which was pushed by staff costs at Ksh 23.9 billion.<\/p>\n<p>Interest expense grew by 18pc at Ksh 43.5 billion with interest income growing by 13pc at Ksh 125.9 billion.<\/p>\n<p>Customer deposits increased 9pc to Ksh 1.3 trillion which in turn led to a reduction of borrowed funds from international lenders by 64pc at Ksh 76.4 billion from Ksh 214 billion.<\/p>\n<p>The lender did not declare any interim dividend to shareholders.<\/p>\n<p>The post <a href=\"https:\/\/www.kbc.co.ke\/equity-group-net-profit-in-q3-grows-to-ksh-40-9b\/\">Equity Group net profit in Q3 grows to Ksh 40.9B<\/a> first appeared on <a href=\"https:\/\/www.kbc.co.ke\/\">KBC<\/a>.<\/p>\n<p>The post <a href=\"https:\/\/www.kbc.co.ke\/equity-group-net-profit-in-q3-grows-to-ksh-40-9b\/\">Equity Group net profit in Q3 grows to Ksh 40.9B<\/a> appeared first on <a href=\"https:\/\/www.kbc.co.ke\/\">KBC<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Equity Group made Ksh 40.9 billion in net profit during the first nine months of this year driven by an 11PC growth in interest income. However, gross non-performing loans and advances increased by 0.7pc to Ksh 125.3 billion while non-funded income increased marginally to Ksh 58.3 billion and net interest income hit Ksh 80.6 billion [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-102062","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/102062","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/comments?post=102062"}],"version-history":[{"count":0,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/102062\/revisions"}],"wp:attachment":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/media?parent=102062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/categories?post=102062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/tags?post=102062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}