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Equity Bank expands insurance offerings as profit rises to Sh29b

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Equity Group Chief Finance Officer Moses Nyabanda, Group Managing Director and CEO Dr James Mwangi and Chief Internal Auditor Beth Kithinji during the H1 2024 Investor Briefing event. [Wilberforce Okwiri, Standard]

Equity, Kenya's top lender, has stepped up its push into the country's nascent insurance sector after receiving regulatory approval to expand its insurance offerings, taking the fight to traditional local insurers.

The bank revealed its plans to take the competition to the doorsteps of traditional insurers yesterday, after posting a 12 per cent increase in net profit to Sh28.5 billion for the half-year that ended June.

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