EQUITY GROUP HOLDINGS PLC UNAUDITED FINANCIAL STATEMENTS AND

OTHER DISCLOSURES FOR THE PERIOD ENDED 30TH JUNE, 2023

EQUITY BANK (KENYA) LIMITED

EQUITY GROUP HOLDINGS PLC

BANK

COMPANY

GROUP

STATEMENT OF FINANCIAL POSITION AS AT

  1. ASSETS
  1. Cash (both local & foreign)
  2. Balances due from Central Bank of Kenya
  3. Kenya Government and other securities held for dealing purposes
  4. Financial assets at fair value through profit or loss
  5. Investment securities:
  1. Amortised cost:
    1. Kenya Government securities
    2. Other securities
  3. Fair value through other comprehensive income (FVOCI):
    1. Kenya Government securities
    2. Other securities
  1. Deposits and balances due from local banking institutions
  2. Deposits and balances due from banking institutions abroad
  3. Tax recoverable
  4. Loans and advances to customers (net)
  5. Balances due from group companies
  6. Investments in associates
  7. Investments in subsidiary companies
  8. Investments in joint ventures
  9. Investment properties
  10. Property and equipment
  11. Prepaid lease rentals
  12. Intangible assets
  13. Deferred tax asset
  14. Retirement benefit asset
  15. Other assets
  16. TOTAL ASSETS
  1. LIABILITIES
  1. Balances due to Central Bank of Kenya
  2. Customer deposits
  3. Deposits and balances due to local banking institutions
  4. Deposits and balances due to foreign banking institutions
  5. Other money market deposits
  6. Borrowed funds
  7. Balances due to group companies
  8. Tax payable
  9. Dividends payable
  10. Deferred tax liability
  11. Retirement benefit liability
  12. Other liabilities
  13. TOTAL LIABILITIES
  1. SHAREHOLDERS' FUNDS
  1. Paid up / assigned capital
  2. Share premium / (discount)
  3. Revaluation reserve
  4. Retained earnings / accumulated losses
  5. Statutory loan loss reserve
  6. Other reserves
  7. Proposed dividends
  8. Non-controllinginterests
  9. TOTAL SHAREHOLDERS' FUNDS
  10. TOTAL LIABILITIES AND SHAREHOLDERS' FUNDS

STATEMENT OF COMPREHENSIVE INCOME

1. INTEREST INCOME

  1. Loans and advances
  2. Government securities
  3. Deposits and placements with banking institutions
  4. Other interest Income
  5. Total interest income

2. INTEREST EXPENSES

  1. Customer deposits
  2. Deposits and placements from banking institutions
  3. Other interest expense
  4. Total interest expenses
  1. NET INTEREST INCOME
  2. NON-INTERESTINCOME
  1. Fees and commissions income on loans & advances
  2. Other fees and commissions income
  3. Foreign exchange trading income
  4. Dividend income
  5. Other income
  6. Total non-interest income
  1. TOTAL OPERATING INCOME
  2. OPERATING EXPENSES
  1. Loan loss provision
  2. Staff costs
  3. Directors' emoluments
  4. Rental charges
  5. Depreciation on property and equipment
  6. Amortisation charges
  7. Other operating expenses
  8. Total operating expenses

7.0 Profit / (loss) before tax and exceptional items

30th Jun

31st Dec

31st Mar

30th Jun

30th Jun

31st Dec

31st Mar

30th Jun

30th Jun

31st Dec

31st Mar

30th Jun

2022

2022

2023

2023

2022

2022

2023

2023

2022

2022

2023

2023

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

(Un-Audited)

(Audited)

(Un-Audited)(Un-Audited)

(Un-Audited)

(Audited)

(Un-Audited)

(Un-Audited)

(Un-Audited)

(Audited)

(Un-Audited)(Un-Audited)

14,488,220

13,946,713

13,948,695

14,102,641

10,859,032

14,409,974

14,681,792

13,575,521

61,153,399

66,708,559

87,619,727

74,754,312

21,301,356

18,765,647

27,368,152

19,880,406

-

-

-

-

21,301,356

18,765,647

27,368,152

19,880,406

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

312,480,585

320,258,862

316,855,889

389,322,950

-

-

-

-

365,023,144

393,983,864

392,468,517

485,643,083

11,257,558

15,681,217

15,852,091

15,100,580

-

-

-

-

13,947,410

25,457,163

28,152,044

25,707,559

11,257,558

9,571,137

9,383,951

9,611,811

-

-

-

-

13,089,974

12,237,041

13,135,215

13,896,941

-

6,110,080

6,468,140

5,488,769

-

-

-

-

857,436

13,220,122

15,016,829

11,810,618

301,223,027

304,577,645

301,003,798

374,222,370

-

-

-

-

351,075,734

368,526,701

364,316,473

459,935,524

223,370,051

206,633,893

202,818,448

264,598,342

-

-

-

-

223,714,830

206,972,825

202,818,448

264,598,342

77,852,976

97,943,752

98,185,350

109,624,028

-

-

-

-

127,360,904

161,553,876

161,498,025

195,337,182

10,842,600

18,438,640

9,548,650

2,907,324

-

-

-

-

77,509,597

81,095,947

82,846,745

60,579,123

21,875,393

25,671,494

16,538,031

12,674,436

-

-

-

-

54,468,714

65,798,488

60,569,141

64,610,632

320,446

850,525

-

-

79,288

147,360

164,703

247,745

692,514

1,727,814

1,048,108

1,277,555

417,482,499

429,821,383

448,929,590

459,421,000

-

-

-

-

650,556,497

706,588,156

756,333,641

817,186,428

695,701

959,928

853,429

2,060,553

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

100,000

82,412,820

93,432,939

93,439,183

93,339,183

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,937,254

6,115,091

6,538,248

6,899,953

4,564,924

5,764,696

5,577,192

5,740,202

9,573

8,876

9,337

8,851

16,489,753

18,898,943

20,464,541

21,483,187

-

-

-

-

-

-

-

-

-

-

-

-

10,186,982

10,892,789

11,381,106

12,415,595

-

-

-

-

12,004,994

12,527,909

13,085,035

14,577,093

27,482,238

22,989,070

27,416,137

27,073,698

135,969

318,517

621,529

872,246

31,910,711

27,244,000

33,143,375

32,401,242

-

-

-

-

-

-

-

-

-

-

-

-

24,031,149

25,652,013

24,891,908

27,234,640

298,286

1,727,823

1,710,128

2,009,811

36,812,951

47,556,158

56,191,441

45,493,755

865,752,093

894,011,760

903,308,779

972,933,445

93,794,968

110,045,489

110,626,672

110,053,357

1,333,860,884

1,447,010,576

1,537,676,671

1,644,786,769

-

-

-

-

-

-

-

-

-

-

-

-

522,752,600

517,217,504

544,137,669

565,195,620

-

-

-

-

970,942,913

1,052,161,597

1,111,168,760

1,175,252,106

-

-

-

500,000

-

-

-

-

-

-

-

500,000

105,184,999

130,153,486

111,375,175

120,466,319

-

-

-

-

-

-

-

-

40,666,961

43,849,440

41,813,803

69,269,257

-

-

-

-

42,077,633

43,849,440

44,934,218

70,904,760

90,126,053

88,174,860

89,321,186

91,109,639

11,979,902

12,629,259

13,723,626

14,418,987

120,522,956

113,692,466

114,113,375

117,468,421

9,319

-

-

-

-

-

-

-

-

-

-

-

-

-

2,583,344

1,270,967

-

-

-

-

849,148

1,830,443

5,721,609

3,517,034

-

-

-

-

2,171,343

-

-

10,827,190

2,171,343

-

-

10,827,190

-

-

-

-

-

-

-

-

923,188

1,642,018

1,888,324

2,166,689

-

-

-

-

-

-

-

-

1,272,019

1,856,467

1,920,274

1,967,525

16,010,800

17,089,079

16,646,633

19,072,747

4,118,497

561,257

754,282

4,338,122

44,714,689

49,766,873

67,245,663

67,850,895

774,750,732

796,484,369

805,877,810

866,884,549

18,269,742

13,190,516

14,477,908

29,584,299

1,183,473,889

1,264,799,304

1,346,992,223

1,450,454,620

30,000,000

30,000,000

30,000,000

30,000,000

1,886,837

1,886,837

1,886,837

1,886,837

1,886,837

1,886,837

1,886,837

1,886,837

9,964,132

9,964,132

9,964,132

9,964,132

15,325,264

15,325,264

15,325,264

15,325,264

15,325,264

15,325,264

15,325,264

15,325,264

(33,569,920)

(24,588,128)

(31,925,928)

(31,662,815)

-

-

-

(43,614,715)

(32,172,564)

(36,908,115)

(32,673,685)

84,607,149

82,151,387

89,392,765

97,747,579

58,313,125

79,642,872

63,841,964

63,256,957

170,023,872

189,572,966

186,783,370

199,938,822

-

-

-

-

-

-

-

-

91,910

1,582,327

1,582,327

1,582,327

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15,094,699

-

-

-

15,094,699

-

-

-

-

-

-

-

-

-

6,673,827

6,016,442

6,920,066

8,272,584

91,001,361

97,527,391

97,430,969

106,048,896

75,525,226

96,854,973

96,148,764

80,469,058

150,386,995

182,211,272

190,684,448

194,332,149

865,752,093

894,011,760

903,308,779

972,933,445

93,794,968

110,045,489

110,626,672

110,053,357

1,333,860,884

1,447,010,576

1,537,676,671

1,644,786,769

21,553,374

47,698,257

11,883,190

26,230,781

-

-

-

-

35,275,032

78,231,754

20,715,620

44,761,406

16,491,826

33,872,981

8,607,757

18,188,531

-

-

-

-

19,112,464

40,024,145

10,665,204

22,696,971

197,574

665,419

372,285

675,565

499,369

701,929

275,001

544,587

489,376

1,214,903

1,009,217

2,204,076

25,278

50,543

18,032

53,950

-

-

-

-

96,128

163,606

49,534

132,077

38,268,052

82,287,200

20,881,264

45,148,827

499,369

701,929

275,001

544,587

54,973,000

119,634,408

32,439,575

69,794,530

7,550,393

16,118,404

5,097,381

11,141,961

-

-

-

-

10,483,594

22,426,524

7,419,946

16,124,972

179,797

1,271,317

626,875

1,293,839

-

-

-

-

1,037,796

2,906,208

974,034

1,911,497

2,834,751

6,486,212

2,164,036

4,764,614

332,744

814,259

294,966

648,410

3,647,771

8,302,634

2,360,698

5,367,994

10,564,941

23,875,933

7,888,292

17,200,414

332,744

814,259

294,966

648,410

15,169,161

33,635,366

10,754,678

23,404,463

27,703,111

58,411,267

12,992,972

27,948,413

166,625

(112,330)

(19,965)

(103,823)

39,803,839

85,999,042

21,684,897

46,390,067

3,664,792

7,554,588

1,643,274

3,612,347

-

-

-

-

4,225,510

8,893,241

2,001,946

4,628,859

4,816,737

9,581,330

3,265,241

6,410,654

-

-

-

-

12,653,558

28,126,834

9,121,603

18,721,968

2,678,725

6,483,484

1,550,522

2,835,329

-

-

-

-

5,028,280

12,969,690

5,164,992

8,446,264

-

-

-

-

-

22,140,458

-

299,683

-

-

-

-

1,063,346

3,920,373

1,802,134

3,712,334

(120,533)

(549,130)

(940,843)

(1,837,018)

3,937,147

9,946,415

2,095,116

4,693,264

12,223,600

27,539,775

8,261,171

16,570,664

(120,533)

21,591,328

(940,843)

(1,537,335)

25,844,495

59,936,180

18,383,657

36,490,355

39,926,711

85,951,042

21,254,143

44,519,077

46,092

21,478,998

(960,808)

(1,641,158)

65,648,334

145,935,222

40,068,554

82,880,422

2,199,753

7,836,716

1,848,209

3,615,950

-

-

-

-

4,086,983

15,414,322

3,476,580

7,095,601

6,039,544

14,163,580

3,704,986

7,985,957

6,128

37,646

3,663

8,238

10,818,825

24,776,799

6,629,022

14,231,696

17,724

48,924

26,376

40,820

18,295

55,328

14,711

59,396

77,874

230,637

77,294

162,897

84,301

255,920

56,445

121,838

2,162

3,262

292

1,374

177,663

429,879

101,386

212,974

1,205,238

2,484,836

560,630

1,136,950

900

1,821

487

973

2,485,915

5,289,202

1,322,555

2,776,920

493,473

1,014,627

259,435

517,476

-

-

-

-

1,018,760

2,082,281

326,040

653,517

7,803,024

18,144,384

5,393,687

10,845,292

94,112

309,598

28,910

133,455

16,064,377

37,868,317

11,254,638

22,585,033

17,843,057

43,948,987

11,849,768

24,264,283

121,597

407,655

48,063

203,436

34,730,397

86,091,437

23,187,515

47,718,638

22,083,654

42,002,055

9,404,375

20,254,794

(75,505)

21,071,343

(1,008,871)

(1,844,594)

30,917,937

59,843,785

16,881,039

35,161,784

EQUITY GROUP HOLDINGS PLC UNAUDITED FINANCIAL STATEMENTS AND

OTHER DISCLOSURES FOR THE PERIOD ENDED 30TH JUNE, 2023

EQUITY BANK (KENYA) LIMITED

EQUITY GROUP HOLDINGS PLC

BANK

COMPANY

GROUP

STATEMENT OF COMPREHENSIVE INCOME (continued)

30th Jun

31st Dec

31st Mar

30th Jun

30th Jun

31st Dec

31st Mar

30th Jun

30th Jun

31st Dec

31st Mar

30th Jun

2022

2022

2023

2023

2022

2022

2023

2023

2022

2022

2023

2023

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

Shs. '000'

(Un-Audited)

(Audited)

(Un-Audited)

(Un-Audited)

(Un-Audited)

(Audited)

(Un-Audited)

(Un-Audited)

(Un-Audited)

(Audited)

(Un-Audited)

(Un-Audited)

8.0

Exceptional items

-

-

-

-

-

-

-

-

-

-

-

-

9.0

Profit / (loss) after exceptional items

22,083,654

42,002,055

9,404,375

20,254,794

(75,505)

21,071,343

(1,008,871)

(1,844,594)

30,917,937

59,843,785

16,881,039

35,161,784

10.

Current tax

(4,388,220)

(8,319,090)

(3,445,301)

(5,711,222)

-

-

-

-

(6,688,246)

(12,689,391)

(5,631,156)

(9,527,746)

11.

Deferred tax

154,151

(289,142)

1,282,295

1,052,619

22,652

205,550

302,661

553,378

200,784

(1,051,853)

1,549,968

694,274

12.

Profit / (loss) after tax and exceptional items

17,849,585

33,393,823

7,241,369

15,596,191

(52,853)

21,276,893

(706,210)

(1,291,216)

24,430,475

46,102,541

12,799,851

26,328,312

12.1

Non-controlling Interest

-

-

-

-

-

-

-

-

(685,200)

(1,208,545)

(493,915)

(867,757)

13.

Profit / (loss) after tax and exceptional items and

17,849,585

33,393,823

7,241,369

15,596,191

(52,853)

21,276,893

(706,210)

(1,291,216)

23,745,275

44,893,996

12,305,936

25,460,555

non-controlling interest

14.

Other comprehensive income

14.1

Gains / (losses) from translating the financial

-

-

-

-

-

-

-

-

637,071

2,936,236

3,080,628

6,306,780

statements of foreign operations

(33,247,845)

(24,266,053)

(7,337,800)

(7,074,687)

-

-

-

-

(38,945,243)

(29,019,919)

(7,816,743)

(6,807,633)

14.2

Fair value changes in FVOCI financial assets

14.3

Remeasurement of defined benefit obligation

-

-

-

-

-

-

-

-

-

(572,765)

-

-

14.4

Share of other comprehensive income of associates

-

-

-

-

-

-

-

-

-

-

-

-

14.5

Income tax relating to components of other

-

-

-

-

-

-

-

-

-

-

-

-

comprehensive income

15.

Other comprehensive income for the year, net of tax

(33,247,845)

(24,266,053)

(7,337,800)

(7,074,687)

-

-

-

-

(38,308,172)

(26,656,448)

(4,736,115)

(500,853)

16.

Total comprehensive income for the year

(15,398,260)

9,127,770

(96,431)

8,521,504

(52,853)

21,276,893

(706,210)

(1,291,216)

(13,877,697)

19,446,093

8,063,736

25,827,459

Earnings per share - basic & diluted

594.99

1,113.13

241.38

519.87

(0.01)

5.64

(0.19)

(0.34)

6.29

11.90

3.26

6.75

Dividend per share - declared

-

600.00

-

-

-

4.00

-

-

-

4.00

-

-

OTHER DISCLOSURES

  1. NON-PERFORMINGLOANS AND ADVANCES

a)

Gross non-performing loans and advances

39,863,271

39,144,391

53,523,707

66,481,687

-

-

-

-

61,029,124

63,134,379

80,286,325

97,510,526

b)

Less: interest in suspense

8,717,551

9,042,023

12,140,036

14,674,581

-

-

-

-

11,573,311

13,013,091

15,439,093

18,418,405

c)

Total non-performing loans and advances (a-b)

31,145,720

30,102,368

41,383,671

51,807,106

-

-

-

-

49,455,813

50,121,288

64,847,232

79,092,121

d)

Less: loan loss provision

19,743,662

19,735,572

23,219,285

23,247,655

-

-

-

-

27,525,839

31,512,828

34,377,208

34,720,550

e)

Net non- performing loans (c-d)

11,402,058

10,366,796

18,164,386

28,559,450

-

-

-

-

21,929,974

18,608,460

30,470,024

44,371,571

f)

Discounted value of securities

11,142,736

10,366,796

11,982,650

22,393,687

-

-

-

-

18,754,047

17,039,445

22,264,669

37,740,355

g)

Net NPLs exposure (e-f)

259,322

-

6,181,736

6,165,763

-

-

-

-

3,175,927

1,569,015

8,205,355

6,631,216

2)

INSIDER LOANS AND ADVANCES

a)

Directors, shareholders and associates

5,753,915

6,442,159

6,557,260

6,549,640

-

-

-

-

7,697,408

7,961,065

7,988,215

8,499,906

b)

Employees

7,170,767

8,080,930

8,331,122

8,624,077

-

-

-

-

11,181,089

14,232,484

14,706,329

15,321,241

c)

Total insider loans and advances and other facilities

12,924,682

14,523,089

14,888,382

15,173,717

-

-

-

-

18,878,497

22,193,549

22,694,544

23,821,147

  1. OFF BALANCE SHEET ITEMS

a)

Letter of credit, guarantees and acceptances

111,168,657

113,169,840

128,407,446

129,162,945

-

-

-

-

158,418,363

162,553,364

176,274,545

178,647,438

b)

Forwards,swaps and options

22,272,897

14,333,691

22,764,841

24,291,397

-

-

-

-

30,330,788

25,753,954

55,412,736

53,159,310

c)

Other contigent liabilities

-

-

-

-

-

-

-

-

-

-

-

-

d)

Total contigent liabilities

133,441,554

127,503,531

151,172,287

153,454,342

-

-

-

-

188,749,151

188,307,318

231,687,281

231,806,748

  1. CAPITAL STRENGTH

a)

Core capital

97,577,264

121,149,261

124,576,233

128,674,632

-

-

-

-

150,887,572

177,328,347

196,947,972

210,607,141

b)

Minimum statutory capital

1,000,000

1,000,000

1,000,000

1,000,000

-

-

-

-

4,173,124

4,173,124

4,173,124

4,173,124

c)

Excess / (deficiency)

96,577,264

120,149,261

123,576,233

127,674,632

-

-

-

-

146,714,448

173,155,223

192,774,848

206,434,017

d)

Supplementary capital

37,936,344

37,232,858

38,670,101

39,616,458

-

-

-

-

50,226,816

51,444,445

53,976,054

55,617,772

e)

Total capital (a+d)

135,513,608

158,382,119

163,246,334

168,291,090

-

-

-

-

201,114,388

228,772,792

250,924,026

266,224,913

f)

Total risk weighted assets

721,281,927

768,315,225

834,849,797

848,553,892

-

-

-

- 1,067,455,118 1,134,400,234 1,269,667,878 1,403,400,688

RATIOS

g)

Core capital / total deposit liabilities

15.5%

18.7%

19.0%

18.8%

-

-

-

-

15.5%

16.9%

17.7%

17.9%

h)

Minimum statutory ratio

8.0%

8.0%

8.0%

8.0%

-

-

-

-

8.0%

8.0%

8.0%

8.0%

i)

Excess / (deficiency) (g-h)

7.5%

10.7%

11.0%

10.8%

-

-

-

-

7.5%

8.9%

9.7%

9.9%

j)

Core capital / total risk weighted assets

13.5%

15.8%

14.9%

15.2%

-

-

-

-

14.1%

15.6%

15.5%

15.0%

k)

Minimum statutory ratio

10.5%

10.5%

10.5%

10.5%

-

-

-

-

10.5%

10.5%

10.5%

10.5%

l)

Excess / (deficiency) (j-k)

3.0%

5.3%

4.4%

4.7%

-

-

-

-

3.6%

5.1%

5.0%

4.5%

m)

Total capital/ total risk weighted assets

18.8%

20.6%

19.6%

19.8%

-

-

-

-

18.8%

20.2%

19.8%

19.0%

n)

Minimum statutory ratio

14.5%

14.5%

14.5%

14.5%

-

-

-

-

14.5%

14.5%

14.5%

14.5%

o)

Excess / (deficiency) (m-n)

4.3%

6.1%

5.1%

5.3%

-

-

-

-

4.3%

5.7%

5.3%

4.5%

  1. LIQUIDITY

a) Liquidity ratio

64.5%

67.5%

62.2%

64.7%

-

-

-

-

53.2%

52.1%

51.5%

51.1%

b)

Minimum statutory ratio

20.0%

20.0%

20.0%

20.0%

-

-

-

-

20.0%

20.0%

20.0%

20.0%

c)

Excess / (deficiency) (a-b)

44.5%

47.5%

42.2%

44.7%

-

-

-

-

33.2%

32.1%

31.5%

31.1%

These financial statements are extracts from the books of the institution.

The complete set of financial statements, statutory and qualitative disclosures can be accessed on the Institution's website www.equitygroupholdings.com.They may also be accessed at the institution's head office located at Equity Centre, 9th floor, Hospital Road Upper Hill.

Signed

Signed

Prof. Isaac Macharia

Dr. James Mwangi, CBS

Group Chairman

Group Managing Director & CEO

2023

The Most Valuable and Strongest Banking Brands

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• Position 4 - in the World

brands 2023

• Brand Strength Rating (BSR) of AAA+

• Position 291 - in the world

• Position 3 - in Africa

Equity Bank (Kenya) Limited and Equity Group Holdings Plc are regulated by the Central Bank of Kenya.

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Equity Group Holdings Limited published this content on 15 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 August 2023 07:41:03 UTC.