Equity Group Holdings Plc reported a 39% year-on-year increase in profit before tax to KES 58 billion for the first half of 2026, driven by broad-based growth across its East and Central African operations. The Nairobi-based lender also raised its full-year pre-tax profit guidance to approximately KES 120 billion, up from prior expectations.
Profit after tax rose 32% to KES 45 billion in H1 2026, while earnings per share increased by the same percentage. Total assets expanded 20% year-on-year to KES 2.2 trillion, with subsidiaries outside Kenya now representing 53% of the balance sheet. Customer deposits grew 21% to KES 1.6 trillion, led by a 46% surge in the Democratic Republic of Congo to KES 700 billion, while Kenyan deposits rose 24% to KES 900 billion.
Total income for the period reached KES 125 billion, a 25% increase, with non-funded income—now 45% of revenue—growing 36%. The lender’s non-performing loan ratio improved to 9.5% from 13.7% a year earlier, with legacy bad loans totaling around KES 100 billion. The cost-to-income ratio narrowed to 48.6% from 51.7%, despite a 35% rise in staff costs.
Return metrics remained robust, with an annualized return on equity of 29% and return on assets at 4.5%. The Kenya unit delivered a 35% return on equity, while regional subsidiaries contributed 49% of group profit. Dividend growth is projected at 32% for the full year, maintaining a 30% payout ratio.
Digital adoption continued to accelerate, with 89.7% of customers now using digital channels. Equity Group reaffirmed its 2030 targets, aiming for operations in 15 countries and a customer base of 100 million, with expansion plans focused on Angola and Zambia. The lender’s balance sheet growth has outpaced regional peers, supported by strong deposit mobilization and disciplined risk management.
Group Managing Director Dr. James Mwangi emphasized the shift toward measurable outcomes, stating that future communications would prioritize results over process. The lender’s regional footprint now extends to Kenya, DRC, Tanzania, Rwanda, Uganda, and beyond, positioning it as a diversified financial services provider across East and Central Africa.
