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Equity Bank profits up 18per cent but registers drop in new loans

Dr. James Mwangi CEO Equity Bank during release of Equity Bank 2016 Half Year Results where the bank announced an 18% profit before tax on 22nd August 2016. PHOTO:WILBERFORCE OKWIRI

Equity Bank has reported a shrinking loan book for the first time ever in its six-month operating results released yesterday.

The March to June period was specifically difficult, with the total outstanding loans dipping by more than Sh6 billion to point to sluggish demand for credit from the private sector.

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