DRC, South Sudan units top Equity’s earnings in first quarter

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Equity Group Managing Director and CEO Dr James Mwangi an event at their headquarters in Nairobi, Kenya on May 13, 2024. PHOTO | NMG

Equity Group’s net profit grew by 25.1 percent in the three months to March 31, 2024, boosted by substantial contributions from regional subsidiaries in the Democratic Republic of Congo (DRC) and South Sudan.

The Nairobi Securities Exchange-listed lender’s net earnings increased to Ksh15.39 billion ($118.38 million) from Ksh12.3 billion ($93.893million) in the same period last year.