Equity Group Holdings Plc has reported a 32% increase in its first-half profit after tax to KSh45.5 billion ($351 million) boosted by stronger lending, regional expansion and technology-driven financial services.
The Kenyan banking group’s profit after tax rose from KSh34.6 billion a year earlier. while its profit before tax increased 39% to KSh57.8 billion ($447 million) reinforcing Equity Group’s position as one of East Africa’s largest financial services groups
With a presence in the Democratic Republic of Congo, Tanzania, Uganda and Rwanda, the group’s balance sheet expanded 20% to KSh2.16 trillion ($16.7 billion), while customer deposits increased 21% to KSh1.59 trillion ($12.3 billion). Net loans rose 19% to KSh981 billion ($7.58 billion).
Equity Group Revenue Rises 25%
Equity Group’s total income increased 25% to KSh124.9 billion ($965 million) from KSh100.2 billion in the first half of 2025.
Net interest income rose 17% to KSh69.3 billion ($535 million), reflecting stronger lending and balance-sheet management.
Non-funded income provided a larger boost, climbing 36% to KSh55.6 billion ($429 million). It accounted for 44.5% of total group income, compared with 40.8% a year earlier.
The shift highlights Equity’s strategy of diversifying revenue through payments, foreign exchange, insurance and other financial services rather than relying primarily on interest income.
Equity Bank Kenya Profit Rises 32%
Equity Bank Kenya reported a 32% increase in profit after tax to KSh25.7 billion ($198 million). The Kenyan subsidiary’s balance sheet grew 13%, supported by a 24% increase in customer deposits and an 8% increase in loans.
Quarterly loan growth reached 11%, marking the first double-digit quarter-on-quarter increase since the third quarter of 2021 and signaling improving credit demand in Kenya.
The bank also maintained its position as a major MSME lender, disbursing 36% of the KSh101 billion in MSME loans issued in Kenya between January and March 2026.
Tanzania and DRC Drive Regional Growth
Equity Group’s regional operations continued to account for an increasing share of earnings.
Regional subsidiaries contributed 42% of group banking profitability and 47% of banking revenue. They also accounted for 51% of deposits, 54% of loans and 52% of banking assets.
Equity BCDC in the Democratic Republic of Congo increased profit after tax 30% to KSh11.8 billion ($91 million).
Equity Bank Tanzania delivered the fastest profit growth, with earnings jumping 82% to KSh2 billion ($15.4 million).
Equity Bank Rwanda increased profit after tax 12% to KSh2.9 billion ($22.4 million).
The performance strengthens Equity’s case for its pan-African expansion strategy as growth in several of its regional markets outpaces Kenya.
Equity Group NPL Ratio Falls to 9.5%
Asset quality improved significantly during the first half. Equity Group’s non-performing loan ratio fell to 9.5% from 13.7%, moving into single digits. NPL coverage increased to 70% from 68%.
Loan-loss provisions declined 6% year-on-year, while cost of risk improved to 1.4% from 1.7%. The improvement in asset quality helped support profitability while reducing pressure on the group’s credit costs. Operational efficiency also improved, with the cost-to-income ratio falling to 48.6% from 51.7%. Return on assets stood at 4.5%, while return on equity reached 26.5%.
Equity Accelerates Digital Banking
Technology remains at the center of Equity Group’s growth strategy.
The group said 98.3% of transactions now take place outside branches, while 89.7% are processed through digital platforms.
Equity serves 23.3 million customers through Equity Online, the Equity Mobile App, Eazzy FX, *247# and Equitel. Its physical and agent network includes 410 branches, 886 ATMs, 92,572 agency outlets and 1.4 million merchants.
The bank is also investing in artificial intelligence and employee training. About 82% of staff have completed a business-focused generative AI course, with employees completing 119,980 hours of guided AI instruction.
A total of 406 staff have been admitted to master’s programs in financial engineering and applied AI through WorldQuant University.
Equity Group Chief Executive Officer James Mwangi said the investments are part of a broader transformation from traditional banking toward an integrated, technology-enabled financial services company.
Equity Insurance Becomes Third Growth Engine
Equity Insurance Group continued to expand rapidly, with gross written premiums rising 24% to KSh6.4 billion ($49 million).
Profit before tax increased 34% to KSh1.25 billion ($9.6 million).
About 79% of insurance policies were distributed digitally, reinforcing the role of technology in Equity’s efforts to expand insurance penetration.
The group’s non-banking subsidiaries increased their contribution to group revenue to 4.8%, from 4% a year earlier.
Equity Targets 100 Million Customers by 2030
Equity Group is pursuing an ambitious expansion strategy under its Africa Recovery and Resilience Plan 2030.
The strategy targets operations in 15 countries and 100 million customers by 2030, alongside the deployment of next-generation digital and artificial intelligence systems to expand transformation finance across Africa.
Mwangi said Equity is building a “future-ready” institution that is scalable, secure and focused on impact.
The group also continues to expand the work of Equity Group Foundation in education, entrepreneurship, agriculture, healthcare and climate finance. The foundation has trained more than one million entrepreneurs and facilitated more than KSh436 billion ($3.37 billion) in credit access to MSMEs.
Equity Group has also received accreditation as a Direct Access Entity to the Green Climate Fund, positioning it to directly mobilize international climate finance for projects across Africa. With improving asset quality, stronger regional earnings and a growing contribution from non-funded income, Equity Group’s first-half results point to a business increasingly diversified beyond conventional banking.
The group said its H1 2026 performance exceeded management guidance in nearly all key parameters.