Equity nets Sh4.5 billion three month pre-tax profit

EQUITY Bank earned an average profit of Sh50 million daily in January, February and March bringing its profit before tax for the first quarter of this year to Sh 4.5 billion. This is a 21 per cent growth from Sh3.7 billion reported by the country's largest bank by customer base in a similar period last year.Net profits for the period upto March 31 grew to Sh3.2 billion, a 22 per cent growth from Sh2.6 billion the previous year. The bank said the results were boosted by cost management, efficiency, a growing loan book and reduction in fixed deposits which lead to a fall in the cost of funds...