Tuesday, 5 May 2015

Diversification strategy pays off as Equity Group Holdings posts a 13% growth in PBT and welcomes new Strategic Investor

Diversification strategy pays off as Equity Group Holdings posts a 13% growth in PBT and welcomes new Strategic InvestorRegional financial services provider, Equity Group Holdings, has recorded a 13% increase in Profit before Tax in the first quarter of 2015.

The Group's pre-tax profits for the period increased by 13% to KShs 6.1 billion up from KShs 5.4 billion posted over the same period last year.

The performance is largely attributed to growth in intermediation business and successful outcomes from the revenue diversification initiatives under implementation.

Speaking during an investors briefing session at the Group's Equity Center headquarters in Nairobi, Equity Group Holdings CEO & Managing Director Dr. James Mwangi expressed optimism that the Group's performance will remain positive over the year.

"The Group's sustained investments in mobile and agency banking, payment systems and money transfer as well as diaspora remittances and operating expenses optimization initiatives will continue to contribute to the positive growth trajectory. We are highly optimistic that the growth momentum will be maintained throughout the year with a number of new products and services set to be launched in the coming months," said Dr Mwangi.

Other areas of continuing focus will be the SME sector, optimization of delivery channels, merchant acquiring business and payment processing, diaspora banking and remittance processing, regional expansion and further diversification into other financial services products. Read More...

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