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EquityBCDC’s accelerated march to “high returns” resumed during the first quarter of 2022, with approximately $12m in net income. Furthermore, the group plans to pursue its investment strategy.
According to an investor note released in May, Equity Bank Group’s Congolese subsidiary EquityBCDC recorded a first quarter net banking revenue of KSh6.2bn ($53.6m), with an after-tax profit of KSh1.4bn ($12.1m). This is nearly four times the level of its net profit during the first quarter of 2021 (KSh0.4bn), which was hit hard by the Covid-19 pandemic, and more than the profit achieved in the whole of 2019.
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