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20140730 MOBILE BANKING COMPETITION

EQUITY BANK BOSS DR. JAMES MWANGI HAS ALLIED FEARS THAT THEIR HIGHLY CONTESTED MOBILE VIRTUAL NETWORK OPERATOR (MVNO) SYSTEM WILL OPEN UP THEIR CONSUMERS TO THE CYBER RELATED CRIMES, MAINTAINING THAT THE SYSTEM IS ONLY ESSENTIAL AS A DELIVER CHANNEL FOR THEIR SERVICE. MWANGI FURTHER DOWNPLAYED THE CLAIMS THAT THE NEW INNOVATION WAS BENT TO RIVAL OTHER FIRMS IN THE HIGHLY COMPETITIVE COMMUNICATIONS SECTOR. THIS HE SAID WHILE ANNOUNCING A 21% GROWTH IN PROFIT BEFORE TAX IN THE FIRST HALF OF THE YEAR 2014. THE PROFIT BEFORE TAX INCREASED TO 10.8 BILLION UP FROM 8.9 BILLION RECORDED FOR THE SAME PERIOD LAST YEAR.

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