Equity Group has posted an impressive 17 per cent increase in its profit after tax to Sh34.6 billion in the first six months of 2025, a jump from Sh29.6 billion in a similar period in 2024.

The strong show was on the back of a 9 per cent spike in net interest income and an 18 per cent drop in interest expenses, as total costs dropped by 2 per cent driven by a 34 per cent decline in loan loss provisions.

In the period under review, Equity Group’s loan book expanded by 4 per cent to Sh825.1 billion despite a challenging macroeconomy as customer deposits grew by 2 per cent to Sh1.32 trillion, increasing its total assets by 3 per cent to Sh1.8 trillion.

Equity Group also realized its strongest quarterly profit before tax performance in history of Sh22.9 billion, surpassing its quarterly average for the past four years of Sh14.8 billion.

The regional financial institution’s subsidiaries posted double-digit growth in profitability during the first six months of the year, with Tanzania leading the pack.

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The Kenyan business recorded a net profit rise of 40 per cent to Sh19.5 billion, while its Democratic Republic of Congo (DRC) subsidiary posted a 22 per cent PAT jump to Sh9.1 billion.

The leading growth rate in Tanzania was by 75 per cent to Sh1.1 billion, as Uganda and Rwanda recorded 40 per cent and 21 per cent gains in profit after tax, respectively.

Regional subsidiaries now account for nearly half of its deposits, loans, assets and revenue, with 46 per cent of pre-tax profit and 43 per cent of net profit coming from outside Kenya.

In that period ending March 2025, the Group’s regional banking businesses contributed 49 per cent of banking deposits, 50 per cent of loan book and 50 per cent of banking revenue.

Equity Group MD and CEO Dr James Mwangi attributed the stellar show to the firm’s four-year transformation program that started realising sustained growth across the region.

Dr Mwangi was optimistic the Equity Group will continue realizing more growth it continues to implement its 2030 strategy anchored on the Africa Recovery and Resilience Plan.

“The execution of the strategic business plan has started to reflect on the balance sheet and performance of the Group in agriculture, mining, manufacturing, trade and investment, and small and medium enterprises (SMEs)," stated Mwangi during the Monday investor briefing.

Equity’s balance sheet also registered a 3 per cent growth in asset, 4 per cent increase in net loan, 2 per cent expansion in deposits and a 25 per cent increase in shareholders’ funds.

Similarly, earnings per share also realized a 16 per cent upsurge during the first half of 2025 to Sh8.8, an increase from Sh7.6 for a similar period last year.