Equity Bank’s #ticker:EQTY three-year-old subsidiary in the Democratic Republic of Congo (DRC) has become its most profitable subsidiary, the lender has disclosed, underlining the potential in the resource-rich central African nation.
Equity Bank Congo made a Sh700 million profit before taxation in the six months ended June, a 140 per cent growth compared to the same period last year. The DRC business has powered ahead of Uganda’s which grew by 24 per cent to Sh680 million, Rwanda’s 58 per cent to Sh440 million, Tanzania’s 41 per cent to Sh360 million, and South Sudan’s 224 per cent to Sh150 million.
