Equity Group has today announced that it has registered a Ksh. 15.4 billion profit after tax for the quarter ending March 31 2025. This is a slight reduction from the Ksh. 16 billion the banking group reported in a previous period in 2024.
Net interest income increased by 3% to Ksh. 28.6 billion from Ksh. 27.8 billion in 2024. Total expenses decreased by 1% to Ksh. 29.5 billion resulting to a profit before tax of Ksh. 18.7 billion. The Non-Performing Loan (NPL) ratio remained at 14%.
Customer deposits increased to Ksh. 1.32 trillion from Ksh. 1.24 trillion in the period under review while net loans grew by 3% Ksh. 804.7 billion from Ksh 779.2 billion. Total assets grew 4% to Ksh. 1.75 trillion from Ksh. 1.69 trillion.
The Kenya subsidiary has shown recovery registering 7% growth in deposits to Kshs.792.7 billion, total revenue up 19%, non-funded income increased by 23% to Kshs.7.57 billion. This resulted in a 50% increase in profit before tax. Kenya’s return on asset and equity improved to 3.4% and 26.0% respectively. The Kenyan banking subsidiary accounted for 51% of total revenue.
While releasing the Q1 2025 results, Dr. James Mwangi, Equity Group Holdings Plc Managing Director, and CEO said, “We are proud of the resilience demonstrated by the Group amidst a challenging global economic landscape, where our financial strength provides the flexibility to seize opportunities as the regional economy presents diversified levers for growth. This, coupled with the strength of our regional and non-banking subsidiaries, positions us to continue delivering sustainable growth and creating long-term value for our customers, communities, and shareholders, supported by our strong liquidity and total capital positions of 58.5% and 18.3% respectively.” – Dr. James Mwangi, Managing Director and CEO of Equity Group Holdings Plc.
Equity bank Tanzania deposits increased by 14% and loans by 9% year on year. Profit before tax increased by 540%, positively impacting returns with return on assets and return on equity at 3.2% and 22.6% respectively.
EquityBCDC saw 9% growth in customer loans to Ksh. 252.1billion and 8% in deposits to Ksh. 468.4billion. The subsidiary is instrumental in financing priority sectors such as agriculture, manufacturing, and MSMEs.
Regional subsidiaries accounted for 47% of total assets, 48% of net loans, and 45% of profit before tax, with key markets including DRC Tanzania and Rwanda, showing growth in deposits and loans.
The Group’s non-banking subsidiaries, including investment banking, fintech, and insurance, have continued with their stellar performance. The insurance business Profit Before Tax rose 27% to Ksh. 414 million from Ksh. 321 million. Since its inception in March 2022, the Group has issued 15.3 million policies, with 80% distributed through digital channels.
Equity Group has collaborated with the AfDB, Microsoft, and Mastercard Corporation to digitize 10 million farming customers under the Community Pass initiative through the MADE Alliance, advancing financial inclusion and digital accessibility across Africa. Additionally, the Group has partnered with the World Food Programme (WFP) to strengthen the capacity of smallholder farmers transitioning into agribusiness. To further promote inclusive finance, the Group has leveraged risk-sharing mechanisms through a strategic partnership with the African Guarantee Fund (AGF), securing guarantees of over Ksh. 27 billion. These have enabled increased access to credit for women and youth led MSMEs.
Equity Group has continued to invest in technology, infrastructure, and diversification. It has modernized its digital channels, which now process 87% of all transactions. Equity Mobile App and USSD processed 39.5 million transactions, with value of Ksh. 942.7 billion up from 37.8 million transactions with value of Ksh. 720.2 billion recorded during the same reporting period last year. Equitel handled 92 million transactions, up from 65.2 million transactions. The Group’s foreign exchange trading platform, EazzyFX, recorded Ksh. 29.5 billion in transaction value up from Ksh. 24.1 billion. Equity Online posted Ksh. 41.7 billion in value transacted up from Ksh. 36 billion. Meanwhile, Pay With Equity (PWE), the Group’s interoperable merchant and payments platform, processed Ksh. 567.6 billion up from Ksh. 487.5 billion across more than 1.1 million merchants. ONE Equity, the Group’s integrated digital platform, allows customers to access a wide range of products and services across various digital channels under a single umbrella, enhancing cross-selling, offering greater customer choice, and deepening engagement.
Under the Equity Leaders Program (ELP), the Group has now supported 29,515 scholars, with 113 currently pursuing full scholarships in top global universities, and over 970 alumni having studied at 233 universities across 37 countries. Additionally, 750 scholars were admitted into the pre-university internship program this year, with a cumulative 9,700 paid internships and 3,979 TVET scholars supported to date, building a pipeline of empowered African leaders.
The Group has planted over 35 million trees and facilitated the distribution of 494,543 clean energy products, contributing to nature restoration and clean energy adoption. With over USD 200 million extended in climate finance, the Group continues to support businesses and communities in building climate resilience.