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In FY 2023, Equity Group’s performance was outstanding. The company’s decisions and operations led to these financial achievements, setting new records in the industry.

Equity Group’s proposal to pay a record dividend of Kshs. 15.1 billion for the second consecutive year indicates its commitment to rewarding shareholders.

With Kshs 4.00 dividends per share out of Kshs 11.10 earnings per share, the company demonstrates a strong payout ratio of 36%. This consistent performance in dividend payouts reflects the company’s financial stability and shareholder value proposition.

Financial Performance

In FY 2023, Equity Group reported a profit after tax of Kshs 43.7 billion, driven by significant growth in key income streams. Net interest income surged by 21% to Kshs 104.2 billion, showcasing the company’s strength in core banking operations.

The Non-funded income increased by 30% to Kshs 75.9 billio.This showed diversified revenue sources and the Group’s effective business model.

One of Equity Group’s great achievements in FY 2023 was its remarkable growth in gross trade finance revenue.

The revenue soared by 90% to Kshs 11 billion from Kshs 5.8 billion, driven by a 106% surge in trade finance-related lending and a 26% increase in trade finance guarantees and off-balance sheet items.

This performance in trade finance underscores the Group’s expertise in facilitating trade and supporting economic activities across the region.

The substantial increase in trade finance revenue demonstrates Equity Group’s strong position in the market and its ability to meet the needs of businesses.

It also highlights the Group’s commitment to driving economic development and fostering trade relationships in the region. Overall, Equity Group’s performance in trade finance in FY 2023 is a testament to its focus and operational excellence.

Regional Presence and Leadership

Equity Group’s success in FY 2023 was bolstered by its regional banking subsidiaries, which played a pivotal role. These subsidiaries contributed significantly to the company’s overall performance, accounting for 50% of assets, 51% of revenue, and 56% of profit before tax.

This highlights the strategic importance of regional expansion in driving growth and profitability for Equity Group. The Group’s strong presence in regional markets positions it as a leader in the financial services sector.

Equity Group’s regional subsidiaries demonstrate a deep understanding of local dynamics and customer needs. This regional focus has been key to the Group’s success and underscores its commitment to serving diverse markets.

Equity Group’s stellar performance in FY 2023 has far-reaching implications for shareholders, investors, and the economy. The company’s fast growth across various income streams ensures sustained dividend payouts, providing shareholders with stable returns on their investments.

Additionally, this growth reinforces Equity Group’s position as a financial leader in the region, attracting more investors and boosting confidence in the market.

Equity Bank Sets the Bar High with a 15.1 Billion Record Dividend for Shareholders

Equity Group’s success contributes significantly to the well-being of the Kenyan and regional economies. By encouraging economic development and investments, the company plays a crucial role in driving prosperity and creating opportunities for businesses and individuals alike.

In conclusion, Equity Group’s growth journey in FY 2023 exemplifies excellence in financial management, strategic vision, and operational efficiency.

Shareholders and investors stand to benefit from the company’s strong performance, while the broader economy reaps the rewards of a thriving financial sector.

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