Equity Bank. [PHOTO/Standard]

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Equity Group is now banking on its Ugandan subsidiary to boost its revenue as it faces a shrinking loan book in the Kenyan space.

Of the six subsidiaries, the Kenya and South Sudan ones were the only to record negative loan book growth with the Uganda chapter registering the fastest growth.

The loan book in Uganda lies about 17 times smaller than that of Kenya.According to Chief Executive James Mwangi, the Ugandan subsidiary is becoming more promising after it posted a 43 per cent loan book growth to Sh12.3 billion contrasted with Sh8.6 billion in a similar period in 2016.

Ugandan customer deposits also went up by 42 per cent to become the second fastest to that of Rwanda, which rose at 45 per cent.