Equity to cool off State securities as half-year profit hits Sh34.6b

Equity Group Holdings has revealed plans to reduce its exposure to government securities by over 80 per cent as it reallocates its balance sheet to reflect the changing economic climate...
✨ Key Highlights
Equity Group Holdings plans to significantly reduce its exposure to government securities by over 80 percent, shifting investments to private sector loans. This strategic reallocation follows a drop in the Central Bank Rate and aims to optimize profitability.
- Equity Group's half-year profit after tax increased by 17 percent to Sh34.6 billion.
- Group Chief Executive James Mwangi stated the goal is to decrease government securities from Sh540 billion to approximately Sh75 billion, freeing up about Sh450 billion for loans.
- The bank's net loans grew by 4 percent to Sh825.1 billion, with the Group's non-performing loans (NPLs) slightly easing to 13.7 percent.
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