Equity Group Registers Jaw-Dropping Profits and Generous Dividends

Dr. James Mwangi, Group Managing Director and CEO, announced that Equity Group Holdings has once again put forward a record dividend of Kshs.15.1 billion

With a flourish of his hand and a twinkle in his eye, Dr. Mwangi revealed that Equity Group had notched up an astronomical profit after tax of Kshs 43.7 billion, sending shockwaves through the financial world and instantly propelling the company into a league of its own. But that was just the beginning of the financial rollercoaster ride that was about to unfold.

In a move that defied all expectations, Equity Group proposed a mind-boggling dividend payout of Kshs 15.1 billion, a figure so staggering that it seemed to defy the very laws of finance.

“The Kshs. 4 per share dividend amounts to a jaw-dropping 36% payout of the Kshs.43.7 billion ($330 Million) Profit After Tax,” exclaimed Dr. Mwangi, his voice ringing out with a confidence and swagger that spoke volumes about the company’s dominance in the financial arena.

But behind the headline-grabbing numbers lay a tale of resilience, strategic brilliance, and unwavering commitment to excellence. As Dr. Mwangi eloquently articulated, Equity Group had weathered multiple storms – from interest capping to the global COVID-19 pandemic, from supply chain disruptions to geopolitical tensions – and emerged stronger and more resilient than ever before.

Against this backdrop of adversity, Equity Group’s performance was nothing short of extraordinary. Net interest income soared by an impressive 21% to Kshs.104.2 billion, while non-funded income witnessed a staggering 30% growth to Kshs.75.9 billion, leaving competitors green with envy and investors clamoring for more.

But it wasn’t just about the numbers; it was about the company’s unwavering commitment to its customers, its employees, and the communities it served. With the number of customers swelling to a staggering 19.6 million and total assets ballooning to Kshs.1.822 trillion, Equity Group wasn’t just a financial institution – it was a force of nature, reshaping the very fabric of the financial universe.

And as if to underscore its unrivaled dominance, Equity Group completed the acquisition of Cogebanque in Rwanda, firmly establishing itself as the second largest bank in Rwanda and cementing its status as a regional powerhouse.

But perhaps the most remarkable aspect of Equity Group’s success story was its unwavering commitment to social impact and environmental sustainability. Through its Equity Group Foundation, the company touched the lives of millions, championing causes ranging from financial inclusion and entrepreneurship to environmental conservation and healthcare.

As Dr. Mwangi eloquently put it, “Equity is uniquely positioned to deliver on a positive and promising focus to all its stakeholders.” And as the dust settled on yet another record-breaking year, one thing was abundantly clear: Equity Group’s journey was far from over. 

With each passing year, its legacy of excellence and impact continued to grow, leaving an indelible mark on the hearts and minds of millions across Africa and beyond.