Equity Group has posted a Profit After Tax of Sh15.4 billion for the first quarter of 2025, supported by a rise in customer deposits, digital transaction volumes, and contributions from regional subsidiaries.

The Group’s total assets grew by 4 per cent to Sh1.75 trillion, while customer deposits increased by 7 per cent to Sh1.32 trillion. Net loans rose by 3 per cent to Sh804.7 billion.

Regional subsidiaries contributed 47 per cent of total assets and 45 per cent of profit before tax.

Kenya remained the Group’s largest market, accounting for 51 per cent of total revenue.

The local subsidiary recorded a 7 per cent rise in deposits to Sh792.7 billion, with revenue increasing by 19 per cent and profit before tax rising by 50 per cent.

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Return on assets in Kenya stood at 3.4 per cent, while return on equity reached 26 per cent.

In Tanzania, deposits grew by 14 per cent and loans by 9 per cent, resulting in a 540 per cent increase in profit before tax.

The DRC subsidiary, EquityBCDC, saw loans rise by 9 per cent to Sh252.1 billion and deposits by 8 per cent to Sh468.4 billion.

The Group’s digital banking platforms processed 87 per cent of all transactions.

The Equity Mobile App and USSD handled 39.5 million transactions valued at Sh942.7 billion, while Equitel processed 92 million transactions.

Pay With Equity facilitated transactions worth Sh567.6 billion across more than 1.1 million merchants.

Net interest income rose by 3 per cent to Sh28.6 billion, and total expenses declined by 1 per cent to Sh29.5 billion, resulting in a profit before tax of Sh18.7 billion.

The Group’s Non-Performing Loan ratio stood at 14 per cent, below the 17.2 per cent industry average. NPL coverage was at 67 per cent.

Commenting on the results, Equity Group CEO James Mwangi said the Group’s performance reflects its resilience and ability to adapt to different market conditions.

“We are proud of the resilience demonstrated by the Group amidst a challenging global economic landscape, where our financial strength provides the flexibility to seize opportunities as the regional economy presents diversified levers for growth,” he said.

The Group’s insurance business recorded a 27 per cent rise in profit before tax to Sh414 million.

It has issued 15.3 million policies since 2022, with 80 per cent distributed through digital channels.

Equity is in the process of acquiring a health insurance licence to complement its general and life assurance offerings.

The investment banking and technology arms posted profit growth of 142 per cent and 10 per cent respectively.

Dr Mwangi said the Group remains focused on long-term value creation and inclusive growth.

“Our focus on financial inclusion, regional expansion, and sustainable growth will enable us to continue being a catalyst for economic empowerment and resilience across Africa,” he said.