Equity Group Holdings Plc, a financial powerhouse in East and Central Africa, has released its financial report for the first quarter (Q1) of 2026. According to its statement, the institution demonstrated that its strategic roadmap to transform into a digital, technology-led, pan-African financial services provider is being executed with immense success.
During this three-month period, the bank’s profit after tax rose by 24 percent to reach 19.1 billion Kenyan Shillings (KSh). This substantial profit growth was driven by a strengthened balance sheet, disciplined execution across all sectors, and a significantly rising contribution from regional subsidiaries outside of Kenya.
Equity Group’s total balance sheet expanded by 16 percent to hit KSh 2.04 trillion. Contributing to this growth was a 13 percent increase in customer deposits and a 9 percent growth in net loans. These figures clearly signal strong customer confidence and broad-based economic vitality across the African markets where the bank operates.
For the first time in history, the rapid growth demonstrated by the bank’s regional subsidiaries outside of Kenya has crossed a major milestone. Currently, these regional operations account for 50 percent of Equity Group’s total banking profitability and 52 percent of its total assets. This achievement serves as concrete validation of the bank’s journey to become a continental champion.
When broken down by country, Equity Bank Kenya delivered a 21 percent year-on-year increase in profit after tax. Meanwhile, Equity BCDC in the Democratic Republic of Congo recorded a 32 percent profit growth, and Equity Rwanda saw a 36 percent increase. Equity Tanzania registered an exceptional performance with a spectacular 150 percent growth in profit. The bank now boasts a massive base of 22.7 million customers, supported by an extensive network of 86,910 agency banking outlets and 1.4 million merchants.
Commenting on the results, Dr. James Mwangi, Equity Group’s Managing Director and Chief Executive Officer (CEO), stated: “Our first-quarter performance reflects the success of our deliberate transformation into a diversified, regional, and technology-led financial services group. We are building a future-ready, secure, and impact-driven institution anchored in digital capabilities, staff upskilling, and a culture of disciplined execution.”
The customer migration toward digital channels has continued aggressively, with 98.3 percent of all banking transactions occurring outside of physical branches and 89.5 percent processed entirely through digital platforms. This massive shift has enabled the bank to enhance its operational efficiency, successfully lowering its cost-to-income ratio from 54.2 percent down to 50.6 percent.
Alongside its financial success, the Equity Group Foundation (EGF) has continued to strengthen its social and economic empowerment initiatives. In the education sector, the foundation has benefited 60,009 students to date through its “Wings to Fly” and “Elimu” scholarship programs. In the technology sector, EGF has trained over 600,000 youth in Artificial Intelligence (AI), Machine Learning, and Data Analytics. Additionally, to modernize its workforce, 7,344 bank employees have completed Generative AI (GenAI) courses, while 641 staff members are currently pursuing Master of Science degrees in Financial Engineering.
In agriculture, the foundation is executing a 25 million dollar project in partnership with various stakeholders, including the Mastercard Foundation, targeting 60,000 smallholder farmers and agri-MSMEs in Tanzania and the DRC. On the environmental front, it has planted over 45.5 million trees to date. In healthcare, the “Equity Afya” network has expanded to 154 medical centers, which have collectively served over 4.9 million patient visits.
