Equity Group half-year profit hits Ksh.34.6 Billion as transformation strategy pays off

The strong performance was driven by a 9% rise in net interest income and an 18% drop in interest expenses, while total costs fell by 2% on the back of a 34% decline in loan loss provisions.

Equity’s loan book grew by 4% to Ksh.825.1 billion despite a "challenging economic environment", while customer deposits rose 2% to Ksh.1.32 trillion, lifting total assets 3% to Ksh.1.8 trillion.

Equity’s subsidiaries recorded double-digit growth in profitability, with Tanzania leading the pack.

In Kenya, profit after tax surged 40% to Ksh.19.5 billion, while the Democratic Republic of Congo subsidiary posted a 22% rise to Ksh.9.1 billion.

Tanzania led in growth rate with a 75% jump in earnings to Ksh.1.1 billion, as Uganda and Rwanda posted 40% and 21% gains in profit and assets, respectively.

The company’s regional footprint now accounts for nearly half of deposits, loans, assets and revenue, with 46% of profit before tax and 43% of profit after tax coming from outside Kenya.

Equity Group Managing Director and CEO, Dr James Mwangi, credited the growth to the execution of the Group’s 2030 strategy, anchored on the Africa Recovery and Resilience Plan.

“The execution of the strategic business plan has started to reflect on the balance sheet and performance of the Group in agriculture, mining, manufacturing, trade and investment, and small and medium enterprises (SMEs)," he said.

The transformation has seen the deployment of next-generation digital systems, new go-to-market strategies, and a culture shift towards customer centricity.

The Group’s insurance arm also had a strong showing with gross written premiums up 115% to Ksh.5.18 billion, contributing to a 26% rise in profit before tax.

The Equity Group Foundation invested Ksh.92.3 billion ($715 million) in social impact and sustainability initiatives, including education scholarships, MSME financing, climate action, and healthcare.

Equity’s flagship Young Africa Works program continues to unlock entrepreneurial potential. A cumulative Ksh.363 billion has been disbursed to 350,149 MSMEs, while 2.49 million women and youth have received financial education. Complementing these efforts, 658,459 MSMEs have been equipped with entrepreneurship training, broadening economic inclusion across the region.

Further supporting vulnerable populations, the Group’s social protection initiatives have reached 5.9 million individuals, with Kshs 169.8 billion disbursed via cash transfer programs. At the same time, Equity Afia, the Group's healthcare network, has expanded to 139 clinics, registering 3.98 million patient visits and contributing significantly to affordable and accessible healthcare in the region.