The lender attributes the performance to growth in transactions income which offset a drop in interest income.
Equity says it recorded double digit growth in profitability for subsidiaries.
Equity Group #ticker:EQTY has announced a 14 per cent rise in net profit in the year ended December 2017.
The lender's after-tax earnings stood at Sh18.9 billion in the period compared to Sh16.6 billion the year before.
The firm attributes the performance to growth in transactions income which offset a drop in interest income.
Equity chief executive James Mwangi welcomed planned reforms to the rate cap law that he says slowed down lending by banks last year, adding that the move will support banking sector growth and recovery of the economy.
"The impression given is that the interest capping would have been dealt with by September. This will have positive implications for the credit market," he said during an investor briefing Thursday morning.
The lender says it recorded double digit growth in profitability for subsidiaries which cumulatively grew 14 per cent growth in profitability compared to 7 per cent in 2016.
