Equity Group Holdings posted a profit-after-tax of Shs 433 billion (Kshs 15.4 billion) in the first quarter of 2025, reflecting steady regional growth and a firm grip on costs as the financial giant continues to expand its footprint across East and Central Africa.
The group’s total assets rose by four per cent year-on-year to Shs 49.8 trillion, backed by a seven per cent rise in customer deposits to Shs 37.5 trillion. Lending also saw modest expansion, with net loans rising three per cent to Shs 22.9 trillion.
While releasing the first quarter results, the group’s managing director Dr James Mwangi stated that this milestone is reflected by the group’s resilience and commitment amidst challenges.
“We are proud of the resilience demonstrated by the group amidst a challenging global economic landscape. Our strength lies in the diversified nature of our business, especially the contributions from regional subsidiaries,” he said.
While Kenya remains a key contributor to revenue, regional subsidiaries, particularly in the Democratic Republic of the Congo, Rwanda and Tanzania now account for nearly half of the group’s profit before tax and assets. Equity Bank Tanzania’s profit before tax grew by an impressive 540 per cent, while Equity BCDC in DRC recorded solid growth in both deposits and lending, driven by strong demand in agriculture, manufacturing and small business sectors.
In Uganda, Equity bank continues to build momentum with a growing customer base and investment in various channels, although country- specific first quarter figures were not disclosed.
Across the group, digital uptake is surging. Over 87 per cent of transactions were conducted digitally, with the Equity Mobile App and USSD platforms processing the equivalent of Shs 26.8 trillion. Equitel and other platforms also recorded significant increases in transaction volumes, reflecting changing customer behaviour toward mobile banking.
Equity’s insurance and investment banking arms are also playing a positive role in the group’s strategy. The insurance division issued over 15 million policies, 80 per cent of which were sold digitally. A new health insurance license is currently being pursued to complement existing offerings.