Finance and Banking
Equity Group Posts Strong H1 Profit of KShs 34.6 Billion Amid Economic Headwinds
Equity Group’s profit after tax increased by 17% to 34.6 billion Kenyan shillings ($236.4 million) in the first half of 2025, a result the company credits to a four-year transformation plan.
The group’s managing director and CEO, Dr. James Mwangi, said the strategic plan’s execution has started to show strong returns across key sectors like agriculture, manufacturing and small and medium-sized enterprises.
“The execution of the strategic business plan has started to reflect on the balance sheet and performance of the Group,” Mwangi said.
Equity Group’s profit before tax hit a record 22.9 billion shillings ($156.5 million) in the second quarter of 2025, well above the quarterly average of 14.8 billion shillings ($101.2 million) over the last four years. The company’s subsidiaries in the region also saw strong profit growth, with Kenya and Uganda each growing by 40%, Tanzania by 75% and the Democratic Republic of Congo (DRC) by 22%.
Despite what the group described as a challenging economic environment, its loan book grew by 4% to 825.1 billion shillings ($5.6 billion). Customer deposits increased by 2% to 1.32 trillion shillings ($9 billion), and total assets grew by 3% to 1.8 trillion shillings ($12.3 billion). Earnings per share rose by 16% to 8.8 shillings ($0.06).
The company’s focus on regional expansion has also paid off, with its regional banking businesses now contributing 49% of banking deposits, 50% of the loan book and 50% of banking revenue.
Equity Group is also expanding its insurance business, which now includes three licensed entities for life, general and health insurance. The general insurance business, which launched this year, registered a profit before tax of 32 million shillings ($218,600) in its first six months. The group’s non-banking business, which includes technology and insurance, now contributes 4% of total revenue.
In addition to its financial performance, the company highlighted its social impact initiatives. Its foundation has invested $715 million in social and sustainability programs, and its Equity Leaders Program has supported over 29,000 university scholars. The bank was also named the “Best Regional Bank in East Africa” at the African Banker Awards 2025.
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