Equity Group reports 32% rise in half-year profit to Ksh45.5B

Equity Group Holdings Plc reported a 32% increase in profit after tax for the first half of 2026, reaching Ksh45.5 billion. This rise was driven by improved balance sheet quality, stronger contributions from regional subsidiaries, and growth in non-funded income. The financial services group's net interest income increased by 17% to Ksh69.3 billion, reflecting growth in lending and disciplined balance sheet management.

Total income grew by 25% to Ksh124.9 billion, with non-funded income accounting for 44.5% of total income, up from 40.8% in the previous half-year. The Group's balance sheet expanded by 20% to Ksh2.16 trillion, with customer deposits increasing by 21% to Ksh1.59 trillion. Net loans rose by 19% to Ksh981 billion, indicating ongoing demand for credit.

Equity now serves 23.3 million customers through various digital platforms and has a physical and agency network of 410 branches, 886 ATMs, 92,572 agency outlets, and 1.4 million merchants. Group Managing Director and CEO Dr James Mwangi attributed the performance to resilient regional economic growth and the Group's multiyear transformation agenda focused on resilience, diversification, and technology enablement.

The cost-to-income ratio fell to 48.6% from 51.7%, and return on assets and equity improved to 4.5% and 26.5%, respectively. The Group is increasingly positioning itself beyond traditional banking, with 98.3% of transactions occurring outside branches and 89.7% through digital platforms.