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NAIROBI, March 19 (Reuters) - Equity Group, Kenya’s second biggest bank by assets, reported on Thursday a 14% rise in 2019 profit after tax, helped by a jump in loans to customers.
The group, which also operates in South Sudan, Tanzania, Rwanda, Uganda and the Democratic Republic of Congo, said profit climbed to 22.6 billion shillings ($215 million). Loans to customers grew 23% to 366.4 billion shillings.
The bank said its subsidiaries contributed 18% of the profit, up from 14% in 2018.
Total assets rose to 673.7 billion shillings from 573.4 billion shillings in 2018, it said.
$1 = 104.9500 Kenyan shillings Reporting by George Obulutsa; Editing by Edmund Blair