Equity Group Holdings has reported a 32% increase in profit after tax to Sh45.5 billion for the first half of 2026, up from Sh34.6 billion recorded during the same period last year.
The lender attributed the growth to improved asset quality, stronger performance across its regional subsidiaries and increased income from non-funded activities.
Equity Group Managing Director and Chief Executive Officer Dr James Mwangi said the results reflected continued strengthening of the group's balance sheet and growth across its markets.
“Equity Group Profit After Tax rose by 32% to Sh45.5 billion from Sh34.6 billion for the same period, a reflection of improved balance sheet quality and growth, rising contributions from its regional subsidiaries and increased non-funded income contribution,” Mwangi said.
The group's balance sheet grew to Sh2.2 trillion, while customer deposits increased by 21% to Sh1.6 trillion. Shareholders' funds also rose by 27%, which Mwangi said demonstrated growing confidence among customers and investors.
“What is most encouraging about the Sh2.2 trillion balance sheet is that the growth is customer-led. Customer deposits grew by 21%, while shareholders’ funds grew by 27%, showing a strong alignment between customer confidence and shareholder commitment. This is a unique synergy: customers are trusting us with more of their deposits, while shareholders are strengthening the capital base that enables us to keep growing, lending and supporting economic activity across the region.”
Customer loans stood at Sh981 billion, while total income reached Sh124.9 billion during the period.
Mwangi said the group's financial position provided a strong foundation for further expansion, with improving efficiency ratios and continued growth in lending.
“The ratios are telling us that we have built a platform capable of scaling. With Sh1.6 trillion in customer deposits, Sh981 billion in customer loans, a balance sheet of Sh2.2 trillion, total income of Sh124.9 billion and Profit After Tax of Sh45.5 billion, the fundamentals are strong. We have met management guidance, our efficiency ratios are improving, and we are well positioned to continue growing with discipline,” he said.
The lender also reported a significant improvement in asset quality. Its non-performing loan ratio declined from 13.7% in the first half of 2025 to 9.5% in the latest reporting period, taking the ratio back into single-digit territory.
Mwangi explained that the improvement had been achieved without compromising the group's commitment to maintaining adequate coverage levels.
Digital banking remained a major component of Equity's operations, with customers increasingly moving away from physical branches. The group said 98.3% of all transactions were conducted outside branches, while 89.7% were processed through digital platforms.
“Equity’s technology-enabled transformation is now firmly embedded across the Group. Customer behavior continues to shift decisively toward digital channels, with 98.3% of all transactions occurring outside branches and 89.7% processed through digital platforms, demonstrating that customers are actively choosing the convenience and reliability of Equity’s digital ecosystem,” Mwangi said.
The group also highlighted its investment in education and leadership development.
More than 11,663 high school students are currently supported through its scholarship programmes, while 121 new global university admissions were secured in 2026, valued at USD23.42 million, or about Sh3.02 billion.
Equity said its Wings to Fly and Elimu scholarship programmes have benefited 60,009 scholars to date, while the Equity Leaders Program has recorded more than 10,505 cumulative paid internships.
Equity Bank Kenya Managing Director Moses Nyabanda said Kenya's position as a gateway to East Africa offered opportunities for the bank to connect businesses to regional markets, facilitate trade and strengthen the country's role as an economic hub.