Equity Group Holdings Plc has reported a robust Profit After Tax (PAT) of Kshs 15.4 billion for the first quarter of 2025, underpinned by prudent cost management, diversified regional operations, and strong growth in customer deposits and digital banking adoption.
The lender revealed that its total assets rose by 4 percent year-on-year to Kshs 1.75 trillion, up from Kshs 1.69 trillion, while customer deposits surged by 7 percent to Kshs 1.32 trillion. Net loans expanded by 3 percent to reach Kshs 804.7 billion.
The Group’s regional subsidiaries — including operations in the Democratic Republic of Congo (DRC), Tanzania, and Rwanda — continued to play a pivotal role, contributing 47 percent of total assets, 48 percent of net loans, and 45 percent of profit before tax.
Dr. James Mwangi, Managing Director and CEO of Equity Group, credited the Group’s resilience and agility in navigating a dynamic global economic environment. “Our financial strength gives us the flexibility to seize emerging opportunities across the region. This, combined with strong performance from our regional and non-banking subsidiaries, positions us to create long-term value for our customers, communities, and shareholders,” he said.
The Kenyan subsidiary, Equity Bank Kenya, showed signs of strong recovery. Customer deposits grew 7 percent to Kshs 792.7 billion, while total revenue rose by 19 percent. Non-funded income increased 23 percent to Kshs 7.57 billion, translating into a 50 percent jump in profit before tax. Kenya contributed 51 percent of total revenue, with a return on equity of 26 percent and a return on assets of 3.4 percent.
In DRC, EquityBCDC remained instrumental in driving Equity’s Africa Recovery and Resilience Plan (ARRP), supporting key sectors such as agriculture, MSMEs, and manufacturing. Loans in DRC rose 9 percent to Kshs 252.1 billion while deposits grew 8 percent to Kshs 468.4 billion.
Equity Bank Tanzania posted impressive growth with deposits up 14 percent and loans rising 9 percent. Profit before tax jumped by a staggering 540 percent, pushing return on equity to 22.6 percent.
The Group’s net interest income rose 3 percent to Kshs 28.6 billion while total expenses dropped by 1 percent to Kshs 29.5 billion. Excluding non-operational inflation accounting in South Sudan, profit before tax grew 8 percent to Kshs 18.8 billion.
Equity maintained an NPL ratio of 14 percent, below the industry average of 17.2 percent, with a coverage ratio of 67 percent, reflecting strong asset quality.
Equity’s non-banking subsidiaries continued to enhance revenue diversification. The insurance division posted a 27 percent increase in profit before tax to Kshs 414 million, with 15.3 million policies issued since 2022 — 80 percent of which were distributed digitally.
The investment bank’s profit rose 142 percent, while the technology division’s profit grew by 10 percent. Equity is also in the process of acquiring a health insurance license to expand its offerings beyond general and life assurance.
Digital banking remains at the heart of Equity’s operations. Digital channels processed 87 percent of all transactions. The Equity Mobile App and USSD handled 39.5 million transactions valued at Kshs 942.7 billion, while Equitel recorded 92 million transactions.
The Group’s foreign exchange platform, EazzyFX, saw transaction values rise to Kshs 29.5 billion, while Equity Online hit Kshs 41.7 billion. Pay With Equity (PWE) processed Kshs 567.6 billion across more than 1.1 million merchant
Equity continues to lead in social investment and climate action. Through the Equity Leaders Program, 29,515 scholars have benefited, with over 970 alumni attending top global universities. The Group has disbursed Kshs 353 billion to over 350,000 MSMEs under the Young Africa Works initiative.
It has also supported climate resilience by planting over 35 million trees and distributing nearly 500,000 clean energy products. Equity was recognized by the International Finance Corporation (IFC) as the global financial institution with the highest number of climate-related transactions.
Additionally, the Group’s social protection efforts have reached 5.82 million people, disbursing Kshs 167.8 billion, while the Equity Afia health clinics have served over 3.6 million patients.
Equity Bank was recently named a Superbrand in East Africa for the fourth time and won 16 top awards at the 20th Think Business Banking Awards, including CEO of the Year, Financial Literacy, SME Banking, and Sustainable CSR.
Dr. Mwangi emphasized the Group’s commitment to financial inclusion, regional integration, and long-term value creation. “Our focus on regional expansion, sustainable growth, and customer-centric innovation continues to anchor our position as a cross-border financial powerhouse.”
Equity Group’s strong capital and liquidity positions — at 18.3 percent and 58.5 percent respectively — ensure that it remains well-capitalized to support its growth agenda and Africa’s economic recovery.