Equity Group Holdings Plc has once again demonstrated why it remains a powerhouse in East and Central Africa’s financial landscape. Reporting a robust profit after tax (PAT) of Ksh 15.5 billion for Q1 2025, the Group’s remarkable performance is anchored on prudent cost management, strategic growth, and a relentless commitment to inclusive economic transformation.
A regional financial giant on the rise
Equity Group’s total assets have expanded by 4% year-on-year, hitting KSh 1.75 trillion, up from KSh 1.69 trillion, fueled by a 7% increase in customer deposits to Ksh 1.32 trillion and a 3% growth in net loans to KSh 804.7 billion. These figures underline the Group’s increasing strength as a diversified financial services provider, solidifying its position as the number two player in Kenya, DRC, and Rwanda, whole also expanding its footprints across six markets.
The Group’s regional operations are a key driver, contributing 47% of total assets and 45% of profit before tax. This growth is not just a reflection of numbers but a testament to Equity’s strategic vision of becoming a cross-border financial powerhouse. Equity Bank Tanzania’s deposits surged by 14%, loans increased by 9%, and profits before tax skyrocketed by 540%. Equity BCDC in DRC continues to anchor the Group’s Africa Recovery and Resilience Plan (ARRP), with a 9% growth in customer loans and 8% increase in deposits, supporting vital sectors like agriculture, manufacturing, and MSMEs.
Kenya Subsidiary Shines Bright
Back home, Equity Bank Kenya has bounced back with vigor, registering a 7% rise in deposits to Ksh 792.7 billion and a 19% surge in total revenue. Non-funded income grew by 23% leading to a phenomenal 50% increase in profit before tax. The Kenyan operation alone accounts for 51% of the Group’s total revenue, reflecting the strength and scale of its domestic market.
Innovation and diversification
The Group’s success is further boosted by its diversified business model. Non-banking subsidiaries, spanning investment banking, fintech and insurance, have posted impressive results. Profit before tax in insurance climbed 27% to 414 million, with over 15 million policies issued since March 2022, 80% through digital channels. The investment banking and technology arms reported profit growth of 142% and 10%, respectively, exemplifying how Equity is transforming banking with cutting-edge, customer-centric solutions.
The Group is also making strides in expanding its insurance footprint, moving towards acquiring a health insurance license to complement existing life and general insurance products. This integration will provide customers seamless protection across life, health, and wealth, underscoring Equity’s vision to be a comprehensive financial partner.
Driving Digital Financial Inclusion
Equity’s digital channels are revolutionizing customer experience, processing 87% of all transactions. The Equity Mobile App and USSD platforms saw 39.5 million transactions valued at KSh 942.7 billion, while Equitel handled 92 million transactions, sharply up from last year. Other platforms like EazzyFX, Equity Online, and Pay With Equity (PWE) continue to break records in transaction value and merchant adoption, reaffirming the Group’s leadership in digital finance across Africa.
Empowering Africa Through the Africa Recovery and Resilience Plan (ARRP)
Beyond profits, Equity Group is deeply committed to social impact and sustainable development. The ARRP, a visionary private sector-led initiative, aims to catalyze and finance enterprises and households across Africa. Through partnerships with the African Development Bank, Microsoft, Mastercard, and the World Food Programme, Equity is digitizing 10 million farmers and boosting financial inclusion for women- and youth-led MSMEs with over KSh 27 billion in risk guarantees.
Social Impact and Environmental Leadership
Equity’s commitment to social development shines through the Equity Leaders Program (ELP), which has supported nearly 30,000 scholars and thousands of paid internships across Africa, nurturing the next generation of leaders. On the climate front, the Group has planted over 35 million trees, distributed nearly half a million clean energy products, and provided over USD 200 million in climate finance, earning global recognition as a sustainability trailblazer.
A Vision for the Future
Dr. James Mwangi, Managing Director and CEO, reflects on the results with optimism:
“Our resilience and financial strength amid global economic challenges position us to seize new opportunities. Our regional subsidiaries, non-banking businesses, and digital platforms power our sustainable growth and deepen value for our customers and communities. We remain committed to delivering long-term value while fostering inclusive economic transformation across Africa.”
Why This Matters
Equity Group’s Q1 2025 results are not just a financial milestone but a story of visionary leadership, regional integration, innovation, and social impact. As it continues to expand and diversify, Equity is not only shaping Africa’s financial future, it’s transforming lives, empowering communities, and leading the charge toward a resilient and inclusive economy.
