Equity Bank has announced a 12% growth in profits before tax, in the half year ending June 2015.
The tremendous growth in profits stands at Kshs. 12.1B up from last year's Kshs. 10.8B in the same period.
This is according to the banks Chief Executive James Mwangi, who made the announcement on Tuesday.
Mwangi attributed the tremendous growth to interest income, growth in subsidiaries and improvement in quality of lending.
The rise in profits was also driven by non-funded income including commissions and gains from foreign exchange trading which jumped by 30 percent to 10.81 billion shillings.
Equity banks has one of the largest numbers of depositors in East Africa.
The bank operates in Uganda, Tanzania, Rwanda and South Sudan as well as in Democratic Republic of Congo-albeit through acquisition.
Equity made an entry into telecommunications through its telco subsidiary -Equitel- last month.
The service is currently estimated to have over a million subscribers.
