Investor Briefing & Q Performance
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- Katrina Dawson
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1 Investor Briefing & Q Performance 1
2 Equity Group Holdings Limited Headquarters Equity Centre, Upperhill, Nairobi Equity Bank s repositioning to avoid the economic turbulence and to exploit the silver lining opportunities
3 Equity Group s Philosophies Our Purpose We exist to transform the lives and livelihoods of our people socially and economically by availing them modern inclusive financial services that maximise their opportunities. Our Vision To be the champion of the socio-economic prosperity of the people of Africa. Our Mission We offer inclusive, customer-focused financial services that socially and economically empower our clients and other stakeholders. Core Values Professionalism Integrity Creativity & Innovation Teamwork Unity of Purpose Respect & Dignity for Customers Effective Corporate Governance Positioning Statement Equity provides inclusive financial services that transform livelihoods, give dignity and expand opportunities. 1
4 Challenging Operating Environment Persists
5 Effects of worst drought recorded over the last 70 years Hydropower is the cheapest source of energy in Kenya; with prolonged drought, generation is constrained making In the uncertain timespower cash is king trade off between the government turn to more expensive sources of energy such as thermal power leading to higher power prices profitability and stability, soundness and resilience The drought has resulted in significant crop failure and loss of livestock, leading to higher food prices The rising food and energy prices have driven inflation to a five-year high of 11.4% in April 2017 whilst food subsidies may impact on monetary policy Importation of food may exert pressure on the exchange rate and fiscal discipline and monetary policy which will place further 45% pressure on the twin deficits 53% 48% The resultant importation of food may impact monetary policy and fiscal discipline affecting the level of deficits 40% Liquidity Ratio (Kenya) Though there has been an onset of the long rains in April, the outlook is still gloom going by Meteorological Dept. reports: the distribution of March to May 2017 seasonal rainfall, both in time and space, is expected to be generally poor in most parts of the country and the threat of the army worms on the surviving food crops exacerbating the situation 29% Q Q Q Q Q
6 Banking Sector Continues to Struggle 20 Rise in food and energy prices have driven inflation to a 5-year high of 11.4% Jan-10 Mar-10 May-10 Jul-10 Sep-10 Nov-10 Jan-11 Mar-11 May-11 Jul-11 Sep-11 Nov-11 Jan-12 Mar-12 May-12 Jul-12 Sep-12 Nov-12 Jan-13 Mar-13 May-13 Jul-13 Sep-13 Nov-13 Jan-14 Mar-14 May-14 Jul-14 Sep-14 Nov-14 Jan-15 Mar-15 May-15 Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 May-16 Jul-16 Sep-16 Nov-16 Jan-17 Mar-17 Inflation Upper band Lower band Target CBR 4
7 Banking sector continues to struggle 30 Significant variance in interbank rates reflects risk aversion in the interbank market and varying liquidity positions between banks in Kenya Jan-13 2-Mar-13 2-May-13 2-Jul-13 2-Sep-13 2-Nov-13 2-Jan-14 2-Mar-14 2-May-14 2-Jul-14 2-Sep-14 2-Nov-14 2-Jan-15 2-Mar-15 2-May-15 2-Jul-15 2-Sep-15 2-Nov-15 2-Jan-16 2-Mar-16 2-May-16 2-Jul-16 2-Sep-16 2-Nov-16 2-Jan-17 2-Mar-17 Interbank High Low CBR 5
8 Liquidity remains skewed with CBK redistributing liquidity via reverse repos Quarterly reverse repos Q Q Q Q Q Gross reverse repo purchases (KES'bn) 6
9 Banking sector gross loss growth has now contracted Growth 15.5% 14.4% 13.3% 8.9% 8.1% 5.8% 4.1% 0.9% 2.2% 3.0% -1.0% -2.0% -0.1% -0.1% Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 7
10 Deteriorating banking sector NPLs Sector 8.4% 8.8% 9.1% 9.7% 7.1% 7.7% Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Feb-17 8
11 Erosion of banking stock value at the NSE +3% % Share prices for the 11 listed banks in Kenya 31 st Mar, st Mar, % % % -35% -18% % % % % Stanchart Diamond Trust Bank I&M Bank CFC Stanbic KCB Bank NIC Bank Equity Bank Housing Finance Bank Co-operative Bank National Bank Barclays Bank 9
12 Monetary policy effectiveness under pressure interest rate tools challenged in current environment Effectiveness of monetary policy 30 Interbank rate persistently below central bank rate Jan-13 2-Apr-13 2-Jul-13 2-Oct-13 2-Jan-14 2-Apr-14 2-Jul-14 2-Oct-14 2-Jan-15 Interbank 2-Apr-15 2-Jul-15 CBR 2-Oct-15 2-Jan-16 2-Apr-16 2-Jul-16 2-Oct-16 2-Jan-17 2-Apr-17 10
13 Rising interest rates in the US brings mixed fortunes Ø The Fed Reserve has raised interest rates to 1% for the 3 rd time in the past 15 months Ø Rates currently at their highest since 2008 financial crisis Expected mixed effects on emerging & frontier markets Decline in FDI as foreign investors starting retracting to the US market USD expected to reprice upwards against other currencies The interest rate hike reflects a strengthening US economy that could benefit exporters if US, growth translates into higher import demand 11
14 Unquantified global phenomena challenges Ø Donald Trump presidency and commencement of investigation of Russian interference in the US election Ø Commencement of Brexit Ø Slump in global commodity prices, particularly energy and minerals Ø China slowdown 12
15 Current net effect is an expected slowdown in economic growth 6.1% IMF 2017 Kenya GDP growth revised downwards 5.3% Previous New (Feb 2017) 6.0% World Bank 2017 GDP growth revised downwards 5.5% Previous New (Apr 2017) 13
16 Silver Lining Opportunities Still Exist Despite the Challenges 14
17 Global oil prices remain depressed Crude Oil Price (USD per Barrel) In uncertain times cash is king trade off between profitability and stability, soundness and resilience 53% 48% 45% Liquidity Ratio (Kenya) 40% 29% Q Q Q Q Q
18 ... and Kenya has benefited from improved months of import Cover Recommended Months of Import Cover May-15 Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 May-16 Jul-16 Sep-16 Nov-16 Jan-17 Mar-17 Apr-17 16
19 KES beginning to strengthen against the dollar USD/KES Import Cover Jan-16 1-Mar-16 1-May-16 1-Jul-16 1-Sep-16 1-Nov-16 1-Jan-17 1-Mar-17 1-May-17 17
20 FREXIT Fears de-risked a new pro-eu French President a) The concluded presidential election in France brings a sigh of relief The election of the pro-eu president Macron has abated fears on a possible FREXIT The election has seen banking stocks up by over 7.5% within less than a week Banking stocks expected to outperform the French stock market European Central Bank might raise interest rates before the end of its quantitative easing program as the new president intends to strengthen the euro area Global markets soared as the integrity of Euro Zone is affirmed Gold, which had been used as the safe-haven for this political risk, is expected to see a downward volatility as investors liquidate gold positions Euro strengthens against the USD with a new 6-month high 18
21 Silver lining opportunities for Kenya a) Kenya signs preferential trade terms with Britain b) China has given Kenya preference as its hub and entry point into Africa Funding of phase 2 of SGR Naivasha Kisumu at a cost of KES. 37Bn Continued funding of road construction projects Continued flow of grants (KES. 21.9bn) Inclusion of Kenya on Silk Road negotiation and road map c) Improving macroeconomic conditions Improving ranking of ease of doing business Improved FDI flows with Kenya ranked preferred investment destination Growing exports over last three years together with a growing tourism sector flows and earnings Growing diaspora remittances Improving national state security Improving regional hub status and enhanced regional integration and growth d) Eurobond yield falling significantly 19
22 Effects of silver lining on Kenya s economic growth growing faster than the rest of sub-sahara Africa For those who scan the environment, hidden opportunities remain % 5.3% 5.6% 5.9% 5.5% Kenyan GDP Growth % 4.8% 4.6% % 3.0% 2.6% SSA GDP Growth % F 20
23 Equity Bank s repositioning to avoid the economic turbulence and to exploit the silver lining opportunities
24 Strengthening liquidity positioning to mitigate economic uncertainty and shocks (Kenya) In uncertain times cash is king trade off between profitability and stability, soundness and resilience 53% 45% 48% Liquidity Ratio (Kenya) 40% 29% Q Q Q Q Q
25 Return vs risk trade-off (Group) 23
26 Cautious underwriting of risk Net loan growth 25% 23% 27% 24% 18% 27% 20% 26% 17% 22% 14% 8% 2% 3% -5% -1% -5% -9% Q Q Q Q Q Q Q Q Q EBKL Group 24
27 Segment NPL s KENYA Sector 90-Day NPL 11.0% 7.1% 6.3% 6.5% 7.3% 7.0% Micro Enterprises SME Large Enterprises Consumer Agriculture Total GROUP Sector 90-Day NPL 11.5% 7.4% 6.0% 6.2% 7.2% 7.1% Micro Enterprises SME Large Enterprises Agriculture Consumer Total 25
28 Focus on strengthening the quality of loan portfolio while mitigating credit risk underwriting EBKL Group Sector 8.4% 8.8% 9.1% * 9.7% 7.1% 7.7% 6.9% 6.8% 7.0%7.1% 5.8%5.8% 3.3% 2.9% 3.8% 3.5% 4.6% 4.2% Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar *Feb 2017
29 Greater focus on low risk SME lending 27
30 NPL per segment and Coverage NPL increase in collateralised segments Coverage (Group) Q Q (Spec. Prov. + Int. Susp)/Gross NPL (Gen. Prov. + Spec. Prov. + Int. Susp)/Gross NPL 84.0% 64.9% 56.0% 48.2% 9.5% 11.5% 7.4% 6.0% 5.4% 7.2% 5.6% 6.2% 7.1% 3.7% 3.8% 0.0% Micro Enterprises SME Large Enterprises Agriculture Consumer Total Q Q
31 Great focus on regional subsidiaries performance KES Billion WithSudan WithoutSudan Tanzania Rwanda Uganda S.Sudan DRC Regional Total Kenya Regional Contribution Q Regional Contribution Q12016 Regional Contribution Q Regional Contribution Q12016 Deposit % 22% 19% 19% Growth 17% 29% 7% -39% 25% 4% 18% Loan % 17% 20% 16% Growth 3% 18% 36% -71% 26% 15% -9% Assets % 21% 20% 19% Growth 12% 20% 13% -30% 32% 2% 13% PBT % 5% 10% 4% Growth 45% 117% 194% -381% 182% -30% -12% Kenya column above represents all entities in Kenya 29
32 Extracting Value From Subsidiaries (Deposits and Loans contribution by countries) 0.0% 30 Kenya column above represents all entities in Kenya
33 DIVERSIFIED BUSINESS to support DEPOSITS growth across MULTIPLE GEOGRAPHIES In KES billions Kenya DRC Tanzania Uganda Rwanda S. Sudan 18% % % % % % 6.4 Q1 Q Q1 Q Q1 Q Q1 Q Q1 Q Q1 Q
34 DIVERSIFIED BUSINESS to support growth PBT across MULTIPLE GEOGRAPHIES KES billions EBKL DRC Tanzania Uganda Rwanda S. Sudan -12% % +194% % % % Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q Q1 Q
35 Extracting Value From Subsidiaries (PBT contribution by countries) Kenya column above represents all entities in Kenya 33
36 Focus on Non Funded Income Quality of revenue streams bn Non- Funded 10.2bn 3.3 (33%) 11.1bn 4.1 (37%) 5.6 (42%) 5.2 (33%) 6.3 (42%) Funded 6.9bn (67%) 6.9bn (67%) 7.0bn (63%) 7.0bn (63%) 7.6 (58%) 7.6 (58%) 10.4 (67%) 10.4 (67%) 8.9 (58%) 8.9 (58%) Q Q Q Q Q Highlights Non-Funded Income: Grew by 21% YoY mainly due to increase in digital transactions Funded Income: Interest Income dropped by 11% YoY as a result of interest capping in loans, a negative loan growth of 5% 34
37 EBKL Other Fees & Commissions - Key Lines In KES Million Mobile Banking Transactions Trade Finance Agency Commission % % % Q Q Q Q Q Q Diaspora Remittances Swift & RTGS Merchant Commmission % % % Q Q Q Q Q Q *Equitel only charges on transfers to other banks and mobile operators 35
38 LEADING DEPOSIT FRANCHISE continues to underpin latent value on the balance sheet Equity consistently growing deposits faster than the sector Equity Kenya deposit growth Kenya banking sector deposit growth 22% 17% 18% 8% 6% 10% 1% 3% 8% Q Q Q Q Q Equity Kenya deposit market share gains consistent through the years 6.7% 7.9% 8.4% 8.5% 8.6% 8.7% 9.5% 10.3%
39 New banking model - Digital Bank Banking made Eazzy Channels available to customers.the tools Advanced security to protect your transactions multiple factor authentication EazzyNet Consumer Online Banking accessible on all devices EazzyBiz SME and Corporate Online Banking Cash and liquidity management EazzyAPI Exposing Equity Bank s capabilities to all digital ecosystem players Only bank in the region to be certified on PCIDSS 24/7 monitoring and protection against cyber threats with monitoring locations across 3 continents Eazzy Diaspora Banking for Global Africans EazzyBanking App Most advanced App on the planet My Money. My Phone. My Life. Available on over 15m devices across Kenya Secure, open loop systems capable of integrating into ecosystems Eazzy, Secure and Convenient 37
40 EazzyBanking App TransactionsTrend (Count in Millions) Volumes Trend (In KES. Billions) Average Growth 28% Average Growth 53% Nov 16 Dec 16 Jan 17 Feb 17 Mar 17 Apr 17 Nov 16 Dec 16 Jan 17 Feb 17 Mar 17 Apr Started in 2016, hence data is shown monthly
41 EazzyNet Transactions Trend (Count in Thousands) Volumes Trend (In KES Millions) Average Monthly Growth 32% Average Monthly Growth 23% Nov 16 Dec 16 Jan 16 Feb 16 Mar 17 Nov 16 Dec 16 Jan 16 Feb 16 Mar 17 Started in 2016 so showing data monthly Started in 2016, hence data is shown monthly 39
42 EazzyBiz Transactions Trend (Count in KES Thousands) Average Monthly Growth 56% Jul 16 Aug 16 Sep 16 Oct 16 Nov 16 Dec 16 Jan 17 Feb 17 Mar 17 Apr 17 Volumes Trend (In KES Billions) 3.2 Average Monthly Growth 78% Jul 16 Aug 16 Sep 16 Oct 16 Nov 16 Dec 16 Jan 17 Feb 17 Mar 17 Apr Started in 2016 so showing data monthly
43 EazzyPay Transactions Trend (Count in KES Thousands) Volumes Trend (In KES Millions) Average Monthly Growth 171% Average Monthly Growth 718% Sep 16 Oct 16 Nov 16 Dec 16 Jan 17 Feb 17 Mar 17 Sep 16 Oct 16 Nov 16 Dec 16 Jan 17 Feb 17 Mar 17 41
44 Innovation on mobile banking - Equitel Value Count Airtel Equitel 1.5% 1.5% 5.6% 7.4% 1.1% 14.5% 1.0% 0.6% 20.3% 21.9% Airtel Equitel 2.2% 2.1% 13.1% 13.0% 2.4% 2.3% 15.2% 16.0% 2.1% 19.7% Safaricom 92.9% 91.1% 84.4% 78.7% 77.6% Safaricom 84.8% 84.9% 82.4% 81.7% 78.3% Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Equitel market share by value of mobile transactions has grown from 7.4% in Q1 16 to 21.9% in Q Total sector value of mobile transactions were KES trillion in Q This was a 6% increase from Q Equitel market share by count of mobile transactions increased to 19.7% for Q compared to 13% at the end of Q Total sector number mobile transactions were million in Q a 14% increase from Q Source: Communication Authority of Kenya
45 Equitel Transactions Trend (Count in KES Millions) Average Monthly Growth 4% Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sept-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 Volumes Trend (In KES Billions) Average Monthly Growth 6% Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sept-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 43
46 DIFFERENTIATED BUSINESS MODEL (continued) 50 Value in billion KES (Left Axis) Number and Value of Agents Transactions Transactions in million (Right Axis) Sept Dec Mar Jun Sept Dec Mar Jun Sept Dec Mar Jun Sept Dec Mar Jun Sept Dec Mar Jun Sep Dec Mar
47 Focus on efficiencies move from fixed to variable channels +57% 71.4 Variable cost channels Transaction numbers in millions Fixed cost channels % % % 5.3-8% Q Q Q Q Q Q Q Q Q Q Equitel Agency Merchants ATM Branch Transaction value in KES billion +7% +89% % % % 12.3 Q Q Q Q Q Q Q Q Q Q
48 Focus on efficiencies has resulted in cost reduction EBKL Group 25% 23% 22% 17% 16% 15% 13% 8% 0% -5% Q Q Q Q Q
49 Cost to Income Ratio Trend (YoY) 2016 Cost optimization & efficiencies of digitisation Bank Group 50.9% 47.8% 49.5% 46.5% 48.7% 45.4% 51.2% 47.8% 43.3% 48.9% 42.7% 49.4% Q Q Q Q Q Q
50 EGF continues to invest in social impact 1.Number of Wings to Fly beneficiaries reach 15,000 at a cost of KES. 14 billion. 2.FIKA financial literacy training for small medium enterprises reached 1.5 million youth, women and micro enterprises. 3. Air lifts to global leading universities reach 400 students at cost KES. 9.6 billion ,000 small scale peasant farmers transformed into agro-businesses through training ,000 enterprises receiving 3 years entrepreneurship training. 6. 2,500 medium scale farmers supported to transform through value addition. 48
51 Fortified Brand made it top of mind Equity s International Rankings Equity Bank Overall Soundness (Capital Assets Ratio) Performance (Profits on capital) (Return on assets) 2016 Global Rank Global Rank Ranked fastest growing large bank in Africa 2016 Equity s Global Credit Rating Aug
52 Equity has earned recognition in 2017 Think Business Awards Category 1 st 2 nd 3 rd Best Bank Overall Equity Bank Best Bank in Kenya - Tier 1 (Big Banks) Equity Bank Best Bank in Retail Banking Equity Bank Best Commercial Bank in Microfinance Equity Bank Best Bank in Agency Banking Equity Bank Best Bank in Mortgage Finance Equity Bank Best Bank in Product Innovation Equity Bank Bank with the Lowest Charges - Individuals Equity Bank Best Bank in Integrated Digital Marketing Equity Bank Best Bank in Trade Financing Equity Bank Best Bank in Sustainable Corporate Social Responsibility Equity Bank Best Bank in Agriculture and Livestock Financing Equity Bank Chief Executive of the Year Dr. James Mwangi (Equity Bank) Outstanding Young Banker of the Year Gakii Mwongera (Equity Bank) Best Bank in Product Marketing Equity Bank Best Bank in Internet Banking Equity Bank Best Bank in Corporate Banking Equity Bank The most Customer-Centric Bank Equity Bank Best Bank in Mobile Banking Equity Bank 50
53 Think Business Awards 51
54 Recognition of innovation on mobile banking and Fintech Equity Bank s repositioning to avoid the economic turbulence and to exploit the silver lining opportunities Most Innovative Bank (2015, 2016) and Best Mobile Banking Service Equitel (2015, 2016) Awards at the Banker Africa, East Africa Awards We commit and continue innovating products and services that 52
55 2017 BEST RETAIL BANK KENYA AND EAST AFRICA In uncertain times cash is king trade off between profitability and stability, soundness and resilience 53% 48% 45% Liquidity Ratio (Kenya) 40% 29% Q Q Q Q Q
56 2017 BEST CSR BANK EAST AFRICA & BEST DIGITAL BANK Equity Bank s repositioning to avoid the economic turbulence and to exploit the silver lining opportunities 54
57 2017 BANKER OF THE YEAR AWARD 55
58 Euromoney Awards Africa s Best Bank 2016: EQUITY BANK Africa s Best SME Bank Kenya s Best Bank 56
59 Top of Mind, Banking Superbrand Equity Bank has been recognised for the last 10 years since 2007 as the Top Banking Superbrand in Kenya and in East Africa in 2008 &
60 Strong Governance & Leadership Structure supportive of executing differentiated performance CBK CMA SHAREHOLDERS NSE RATING AGENCY EQUITY GROUP HOLDING LIMITED Subsidiary Boards Group Board Subsidiary Boards Board Committees Group Board Committees Board Committees CEO s OFFICE Subsidiary Internal Audit Group Internal Auditor CEO Director Governance, Strategy, Legal, Company Secretary Director, Strategic Execution & Innovation Director, Brand, Culture & HR Director, Strategic Partnerships & IR Subsidiary Internal Audit Equity Group Foundation Non-Banking Subsidiaries CORPORATE OFFICE Group Chief Operating Officer Banking Subsidiaries Equity Bank Kenya Equity Investment Bank Equity Insurance Agency Consulting Infrastructure Services Group Director, Treasury Chief Technology & Information Officer Group Director, Special Projects Group Director, Bank Applications & Analytics Group Director, Finance Chief Risk and Compliance Officer Group Director, Corporate Banking Group Director, SME Banking Equity Bank Rwanda Equity Bank Tanzania Equity Bank Uganda Equity Bank South Sudan ProCredit Bank DRC 58 Each subsidiary with own Board of Directors compliant with local regulation
61 Intermediation & Financial Performance
62 60 Funding Base of KES 492 Billion
63 Group Assets of KES. 492 Billion driven by a growing deposit base 61
64 Balance Sheet EBKL Group KES (Billion) Q Q Growth Q Q Growth Assets Net Loans % % Cash & Cash Equivalents % % Government Securities % % Other Assets % % Total Assets % % Liabilities & Capital Deposits % % Borrowed Funds % % Other Liabilities % % Shareholder s Funds % % Liabilities & Capital % % 62
65 -5% growth in PBT KES (Billion) Q Q Growth Interest Income % Interest Expense % Net Interest Income % Non-Funded Income % Total Income % Loan Loss Provision % Staff Costs % Other Operating Expenses % Total Costs % PBT % Tax (2.2) (2.1) PAT % 63
66 RoAA and RoAE Trend RoAE Q Q % 30.2% 29.1% 24.0% EBKL Group RoAA Q Q % 4.2% 4.8% 4.0% EBKL Group 64
67 Strong Financial Ratios EBKL EBKL Group Group Q Q Q Q Profitability NIM 12.8% 8.2% 11.7% 8.5% NFI/Total Income 28% 39% 33% 42% Cost to Income Ratio (with provisions) 46% 48% 53% 55% Cost to Income Ratio (without provision) 43% 43% 49% 49% RoAE 37.4% 30.2% 29.1% 24.0% RoAA 5.4% 4.2% 4.8% 4.0% Asset Quality Cost of Risk 0.67% 1.14% 1.03% 1.16% Liquidity/Leverage Liquidity 29.4% 53.2% 34.9% 50.6% Loans/Deposits 94.0% 72.3% 91.6% 75.0% Capital Adequacy Ratios Core Capital to Risk Weighted Assets 14.8% 14.9% 18.3% 19.3% Total Capital to Risk Weighted Assets 16.1% 15.8% 19.6% 20.2% Core Capital to Deposits Ratio 20.5% 18.5% 24.2% 23.2% 65
68 66 Outlook Kenya & Group
69 Appendix
70 Net Interest Margin Percentage Net Interest Margin Yield on Interest Earning Assets Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Cost of funds Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 68
71 Responsive Balance Sheet - Group 69
72 70 Responsive balance sheet - Kenya
73 Digital v/s Brick and Mortar Digital Transactions Brick & Mortar Transactions Transactions Trend (Count in Millions) +385% Transactions Trend (Count in Millions) % % % % % Volumes Trend (In KES. Billions) Volumes Trend (In KES. Billions) +63% 1, , % 1, % 1, % 1, % % Digital Digital transactions transactions include include all transactions all transactions apart apart from from ATM ATM and and Branch BranchOTC OTC Brick & Brick Mortar & Mortar includes includes ATM ATM and Branch and Branch OTC OTC
74 72
75 177, 50 28, 15 5, 4 13, 8 12, 6 31, ,561 17,
76 Equity Centre, Hospital Road, Upper Hill, P.O. Box Nairobi, Tel: , Fax: , Info@equitygroupholdings.com, KeEquityBank 74
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