Equity Bank defies rate cap to post Sh19b net profit

James Mwangi Managing Director & Chief Executive Officer Equity Bank of Kenya chats with Mary Wamae Executive Director Equity Bank during an Investor Briefing Financial Year 2017 performance. [Photo by Wilberforce Okwiri/Standard]

Equity Bank has defied the odds to post a 13.9 per cent growth in net profit to Sh18.9 billion for the year ended December 31, 2017.

In the results released yesterday, the listed lender broke the trend in the banking industry in a year where its peers - Kenya Commercial Bank, Barclays, Co-operative, Stanbic and NIC banks - all recorded a drop in profitability.