NCBA and Equity’s 2020 profits reduce on account of Covid-19

Equity Bank CEO James Mwangi (R) during the release of 2020 Financial Results

Equity Bank and NCBA have recorded reduced profits for the financial year ending December last year, one that was disrupted by the Covid-19 pandemic.

The two leaders announced their financial results yesterday, with Equity recording a net profit of Sh20.1 billion for the 2020 financial year, representing an 11 per cent drop, compared to earnings reported over a similar period last year.