Equity Group posts 32pc rise in half-year profit to Ksh45.5 billion
From L-R: EquityBCDC Managing Director, Willy Mulamba, Equity Group Managing Director and CEO, Dr. James Mwangi, Equity Bank Kenya Managing Director, Moses Nyabanda, and Equity Bank Rwanda Managing Director, Hannington Namara, during the H1 2026 Investor Briefing.
Equity Group Holdings has reported a 32 per cent increase in profit after tax to Ksh45.5 billion for the first half of 2026, up from KSh34.6 billion recorded during a similar period last year.
The lender attributed the strong performance to balance sheet growth, improved asset quality, increased contributions from regional subsidiaries and rising non-funded income.
Profit before tax rose by 39 per cent to Ksh57.8 billion from Ksh41.5 billion, while total income increased by 25 per cent to Ksh124.9 billion from Ksh100.2 billion.
Balance sheet expands
Equity said its balance sheet expanded by 20 per cent to Ksh2.16 trillion, supported by a 21 per cent increase in customer deposits to KSh1.59 trillion.
The Group’s net loan book also grew by 19 per cent to Ksh981 billion from Ksh825 billion, reflecting increased lending across the corporate, retail, MSME and public sector segments.
Net interest income rose 17 per cent to Ksh69.3 billion from Ksh59.3 billion.
Non-funded income emerged as a key driver of growth, increasing by 36 per cent to Ksh55.6 billion from Ksh40.9 billion. Its contribution to total income rose to 44.5 per cent from 40.8 per cent.
Regional subsidiaries drive growth
Equity said its regional businesses continued to strengthen, with subsidiaries now contributing 42 per cent of Group banking profitability and 47 per cent of banking revenue.
Equity BCDC in the Democratic Republic of Congo recorded a 30 per cent increase in profit after tax to KSh11.8 billion, while Equity Tanzania posted an 82 per cent rise to Ksh2 billion.
Equity Rwanda’s profit after tax increased by 12 per cent to Ksh2.9 billion.
In Kenya, Equity Bank’s profit after tax increased by 32 per cent to Ksh25.7 billion from Ksh19.5 billion. Its balance sheet expanded by 13 per cent, driven by a 24 per cent increase in deposits and eight per cent growth in loans.
Digital transformation
The Group said technology remained central to its growth strategy, with 98.3 per cent of transactions now taking place outside branches and 89.7 per cent processed through digital platforms.
Equity said 82 per cent of its staff had completed business-focused generative AI training, while employees completed 119,980 hours of guided AI instruction.
Group Managing Director and CEO Dr James Mwangi said the results reflected a multi-year transformation agenda focused on resilience, diversification and technology.
“Our H1 2026 performance reflects the success of our deliberate transformation into a diversified, regional, technology-enabled financial services Group,” Mwangi said.
Asset quality improves
The lender also reported improved asset quality, with non-performing loans declining to 9.5 per cent from 13.7 per cent.
NPL coverage increased to 70 per cent from 68 per cent, while cost of risk improved to 1.4 per cent from 1.7 per cent.
The cost-to-income ratio also improved to 48.6 per cent from 51.7 per cent, reflecting increased efficiency and productivity across the Group.
