Equity Group Crosses KSh 2 Trillion in Assets as Regional Units Power Q1 2026 Growth

Equity Group Holdings reported a 24% rise in Profit after Tax for Q1 2026 to KSh19.1 billion, supported by strong regional expansion, growth in customer deposits, and increased use of digital banking channels.

Equity Group also crossed KES 2 trillion in total assets for the first time, closing the quarter at KES 2.04 trillion, up 16.4% year-on-year. Customer deposits rose 12.6% to KES 1.48 trillion, while the loan book expanded 8.6% to KES 873.5 billion.

The Group said the performance was supported by a growing customer base of 22.7 million customers, alongside a distribution network comprising 86,910 agency outlets and 1.4 million merchants.

Operational efficiency improved during the quarter, with the cost-to-income ratio declining to 50.6% from 54.2% a year earlier. Return on assets stood at 3.9%, while return on equity came in at 22.6%.

Dr. James Mwangi, Group Managing Director and CEO, said the Q1 2026 results were tied to the lender’s regional and technology-led strategy.

“Our Q1 performance reflects the success of our deliberate transformation into a diversified, regional, technology led financial services Group. We are building a future ready institution; scalable, secure, and impact led, anchored in digital capabilities, staff upskilling, and a culture of disciplined execution,” he said.

He added that the Group was progressing toward its 2030 ambitions by moving beyond traditional banking into what he described as a Transformation Finance Institution focused on mobilizing capital and connecting ecosystems across Africa.

Digital Transactions Dominate Customer Activity

Equity Group said customer migration to digital channels continued to accelerate in Q1 2026. According to the lender, 98.3% of all transactions were conducted outside physical branches, while 89.5% were processed through digital platforms.

The Group also reported improved asset quality metrics during the quarter. Non-performing loan coverage increased to 72% from 67%, while loan loss provisions declined by 18% following improvement in the quality of the loan book. Non-performing loans declined from 14% to 10% year-on-year.

Equity Group’s Non-Kenya Subsidiaries Account for Majority of Assets

Equity Group’s non-Kenya subsidiaries played a central role in the lender’s Q1 2026 performance, accounting for 52% of total Group assets, 50% of profit before tax, and 54% of total loans. That compares with 47%, 45%, and 48% respectively in the same period a year earlier.

Equity BCDC remained the Group’s largest regional subsidiary, reporting assets of KES 760.6 billion, up 30% year-on-year. Deposits at the DRC subsidiary rose 26% to KES 577.3 billion, while profit before tax increased 53% to KES 7.2 billion.

Tanzania Unit Posts Fastest Growth

Equity Bank Tanzania recorded the fastest growth across most operating metrics among Equity Group’s non-Kenya subsidiaries.

The Tanzanian unit posted 68% growth in loans, an 81% increase in revenue, and a 150% rise in profit before tax. Return on average assets stood at 5.5%, the highest among the Group’s subsidiaries.

Equity Bank Rwanda also posted strong growth, with profit before tax rising 31% and return on average equity reaching 29%. However, Equity Bank Uganda and Equity Bank South Sudan recorded weaker results, with profit after tax declining by 20% and 100% respectively.