By KPC Reporter
Equity Group Holdings has reported a strong financial performance for the first quarter of 2026, posting a 24 per cent rise in profit after tax to KSh19.1 billion, up from KSh15.4 billion recorded during a similar period last year.
The lender said the performance reflects the success of its transformation into a technology-led pan-African financial services group, supported by regional expansion, digital banking growth, and stronger risk management.
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According to the Group, the balance sheet grew by 16 per cent to KSh2.04 trillion, while customer deposits increased by 13 per cent to KSh1.48 trillion. Net loans also rose by 9 per cent, driven largely by growth in the retail, MSME, and public sector lending segments.
Regional subsidiaries continued to post impressive growth, with Equity Bank Tanzania recording a 150 per cent jump in profit after tax. Equity Bank Rwanda grew profits by 36 per cent, while EquityBCDC in the Democratic Republic of Congo posted a 32 per cent increase.
Group Managing Director and CEO James Mwangi said the results demonstrate the success of the bank’s long-term transformation strategy.
“Our Q1 performance reflects the success of our deliberate transformation into a diversified, regional, technology-led financial services Group,” said Mwangi.
“We are building a future-ready institution; scalable, secure, and impact-led, anchored in digital capabilities, staff upskilling, and a culture of disciplined execution,” he added.
The bank said customer adoption of digital services continued to rise sharply, with 98.3 per cent of all transactions taking place outside branches and nearly 90 per cent processed through digital platforms.
Equity also revealed that it has heavily invested in artificial intelligence and staff digital training, noting that 80 per cent of its workforce has completed business-focused generative AI courses.
The Group further reported improvements in asset quality, with non-performing loans reducing from 14 per cent to 10 per cent year-on-year, while loan loss provisions declined by 18 per cent.
Meanwhile, the insurance business emerged as another key growth driver, with gross written premiums rising by 30 per cent to KSh4.5 billion and profit before tax increasing by 53 per cent.
Mwangi said the lender is now positioning itself for further continental expansion under its 2030 strategy.
“As we progress toward our 2030 ambitions, we are evolving beyond traditional banking into a Transformation Finance Institution that mobilizes capital, connects ecosystems, and accelerates inclusive, sustainable prosperity across Africa,” he said.
