Earnings Report /

Equity Group: 9M 21 – Robust top line and lower provisions boost earnings; retain Hold

  • Digital banking franchise continues to support non-interest revenue growth even as margins remain low

  • Asset quality improves with management raising coverage levels. Q4 21 outlook remains positive

  • We retain our Hold recommendation with a TP of KES 46.00

Faith Mwangi
Faith Mwangi

Equity Research Analyst, Financials (East Africa)

Tellimer Research
9 November 2021
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