Equity Bank makes a profit of 40 billion in the midst of a pandemic

Two years on and we are still not quite out of the woods yet with the COVID-19 Pandemic, however, we can safely say, going by CS Ministry of Health, Mutahi Kagwe’s recent lift on the wearing of masks, we are on our way out.

Equity, one of Kenya’s largest banks, made a profit this year of 40 billion. The question everyone is asking, is how did they do it in the midst of a pandemic?

“We are going to pay a dividend of Sh11.3 billion, which is a 50 percent increase of the last dividend payout,” Equity chief executive James Mwangi said. The last time Equity paid dividends was in 2018, with a distribution of Sh2 per share or a total of Sh7.5 billion. This was after freezing payouts in 2019 and 2020 to conserve cash in the wake of the Covid-19 pandemic.


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