Equity Bank reports drop in staff costs as 660 workers exit

Equity Bank staff numbers declined by 660 last year in what the lender attributed to natural attrition, pointing to a gloomy job market in the financial sector.

With the continued growth in the agency banking model, Equity Bank reported a four-per cent decline in staff costs to Sh10.3 billion from Sh10.8 billion with management expecting a further five per cent drop this year.