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Equity climbs out of bond paper losses
Equity Group Managing Director and CEO James Mwangi (center), Group Executive Director Mary Wamae (right) and Chief Operating Officer Samuel Kirubi during the release of 2023 half-year financial results at their headquarters in Nairobi on August 15, 2023. PHOTO | LUCY WANJIRU | NMG
Equity Group’s unrealised paper losses on its bond holdings shrank nearly six times in the year to June 2022 on the back of falling yields on its Eurobond investments in the period.
The lender said in its 2022 half-year financials that the fair value losses on the bonds stood at Sh6.8 billion, down from Sh38.9 billion a year earlier.
