EQTY | Equity Group FY22 Earnings Note

Equity Group released their FY’22 earnings results posting a 14.64% & 15.35% climb in EPS & PAT respectively to KES 11.90/share and KES 46.10Bn respectively. Bottomline growth was driven by a 24.98% increase in net interest income and a 34.46% growth in non-interest income. Trailing ROaE & ROaA improved to 29.05% & 3.35% respectively in FY’22. NIMs remained adequate at 7.18% while the profit margin edged down to 31.59%. Better than our expectation of KES3.00 DPS, the board of directors recommended a final dividend of KES 4.00 representing a 33.33% increase from KES 3.00 paid out in FY’21.