Equity Bank records Q1 2022 earnings of US$100m, up 34% from year prior

Published On: May 18, 2022By Tags: Pan-African

Equity Bank records Q1 2022 attributable earnings of US$100m, up 34% from US$79m year prior.

Highlights:

  • Equity Bank realised an annualised Return on Equity of 26% in Q1 2022.
  • Profit before tax, Return on Assets (ROA) and percentange country contribution:
    PBT – US$m Kenya EA ex Kenya DRC
    Q1 2022 $93.0 $25.6 $15.7
    Q1 2021 $85.0 $15.5 $5.5
    Growth 15% 73% 200%
    Q1 2022 ROA 5.1% 5.8% 2.0%
    Contribution Q1 22 69% 19% 12%
                           Q1 21 80% 15% 5%
  • Net interest margin/total assets increased to 6.1% from 5.6% year prior, due to a 28% increase in loans to US$5.4bn.
  • Non-performing loans declined to 3.7% from 5.0% year prior.
  • Bad debt charge-off increased to US$16m (1.1% of loans) from US$12m (0.9% of loans) in Q1 2022.
  • Non-performing loans declined to 8.2% from 11.1% in Q1 2021.

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About the Author: Hartland-Peel Africa Equity Research

Sub-Saharan Africa ex SA: Equity, debt and FX research covering sixteen countries and advising institutional investors. Proprietary data base of sixteen African stock markets, 250+ companies which is one of the most extensive and complete. New issues, IPO’s and distribution of equity on privatisation. Development of lending and corporate finance opportunities for the bank, privatisation and asset management. An ‘A’ rated equity analyst by South African institutional investors as polled by the Financial Mail in 1998 and 1999.

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