Equity Analysis /

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

    Faith Mwangi
    Faith Mwangi

    Equity Research Analyst, Financials (East Africa)

    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.