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Equity profits hit Sh12.2b as customers take up more loans

Equity Bank CEO James Mwangi

Equity Bank has posted a 14 per cent rise in after-tax profits for the nine months to September, with the lender’s boss dispelling fears the current high interest rates would slow down profitability in the full year.

Net profits rose to Sh12.2 billion on account of double-digit growth in loans advanced to customers, and a sharp increase in fees and commissions.

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