Equity Bank #ticker:EQTY has overtaken KCB Group #ticker:KCB as Kenya’s most profitable lender on back of aggressive expansion of foreign subsidiaries in a year when earnings plunged due to Covid-19 pandemic.
Equity Bank net profit dropped 11 per cent to Sh19.7 billion, racing ahead of KCB whose earnings fell 22 per cent to Sh19.6 billion with the performance of the foreign subsidiaries setting the two rivals apart.
