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Kenya's Equity Bank posts 18 per cent rises in 2014 pretax profit

By Reuters | March 10th 2015

Kenya's Equity Bank Ltd reported on Tuesday an 18 percent rise in full-year pretax profit at 22.4 billion shillings ($245.1 million) due to a rise in net interest income and loan book.

The lender, the biggest in the east African country by the number of depositors, said net interest income rose 10 percent to 29.2 billion shillings in 2014, while the loan book grew 25 percent to 214.2 billion shillings.

Chief Executive James Mwangi said improving macro economic factors in Kenya, where the currency has been stable and inflation is falling, is likely to have a "very positive" impact on the company's performance in the coming weeks

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