James Mwangi, the group’s Chief Executive Officer, in Nairobi, Kenya on November 10, 2020. Equity Group recorded a 14 percent decline in net profit for the nine months period to September 30, 2020. PHOTO | KANYIRI WAHITO | NMG
Equity Group recorded a 14 percent decline in net profit for the nine months period to September 30.
This was largely as a result of rising operational costs, increased provisioning for bad loans and the poor performances of some of its regional subsidiaries as the Covid-19 pandemic wreaked havoc on the banking sector.
