Equity Analysis /
Kenya

Equity Group: Equity Group: Q1 18 – lower provisions support strong start

    Faith Mwangi
    Faith Mwangi

    Equity Research Analyst, Financials (East Africa)

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    Tellimer Research
    18 May 2018
    Published byTellimer Research
    Q1 18 EPS grew by an impressive 21% yoy to KES 1.55. The numbers were stronger than those of KCB, with key highlights including: 1) a 55% yoy decline in loan loss provisions, as NPLs remained stable qoq at 6.6%; 2) a 10% yoy increase in net interest income; and 3) modest cost growth of 4% yoy.