EQUITY GROUP REPORTS STRONG HALF YEAR 2026 RESULTS

Equity Group Holdings Plc has announced a solid first‑half performance for 2026, underscoring its continued regional leadership and the momentum of its transformation into a resilient, people-centric, technology‑enabled pan‑African financial services institution. Profit After Tax rose by 32% to KSh45.5 billion from KSh34.6 billion for the same period, a reflection of improved balance sheet quality and growth, rising contributions from its regional subsidiaries and increased non-funded income contribution. 

Net interest income continued to strengthen, rising 17% to KSh69.3 billion from KSh59.3 billion, reflecting the depth of the Group’s lending franchise and disciplined balance sheet management. Total income grew 25% to KSh124.9 billion, up from KSh100.2 billion, driven by a sharp rise in non‑funded income, which expanded 36% to KSh55.6 billion from KSh40.9 billion. Non‑funded income now contributes 44.5% of the Group’s total income, up from 40.8% in H1 2025, underscoring Equity’s multi‑line business, geographic diversification and revenue quality mix 

The balance sheet also continued its upward trajectory, expanding 20% to KSh2.16 trillion. This growth was anchored by a 21% rise in customer deposits to KSh1.59 trillion and a 19% increase in net loans to KSh981 billion, demonstrating sustained customer confidence and strong credit demand across the markets where Equity operates. Shareholders’ funds grew 27% to KSh350 billion, reinforcing the Group’s capital strength. Equity now serves 23.3 million customers through various digital platforms, including Equity Online for Business & Individuals, Eazzy FX, the Equity Mobile App, *247#, and Equitel, complemented by 410 branches, 886 ATMs, 92,572 agency outlets, and 1.4 million merchants. Together, these channels reflect one of the region’s most extensive and diversified financial services ecosystems.

While releasing the half-year results Dr James Mwangi, Group Managing Director and CEO said, “The Group’s performance is unfolding against a backdrop of resilient regional economic growth. Kenya is projected to expand by 4.5%-5%, the Democratic Republic of Congo by 5.6%, Tanzania by 5.9%, Uganda by 6.4%, Rwanda by 6.8%, and South Sudan by 20%. These growth rates are supported by firm commodity prices and policy reforms and are expected to sustain, making the region where we operate one of the fastest growing regions in the world. Equity’s half-year 2026 performance is the outcome of a multiyear transformation agenda focused on resilience, diversification, and technology enablement. The Group has repositioned its operating model, strengthened its regional presence, and invested heavily in digital and AI‑enabled capabilities to build an institution equipped for the future.”

Operational efficiency continued to improve, with the cost‑to‑income ratio improving to 48.6% from 51.7%, driven by productivity gains, shared services, and a decisive customer shift toward digital channels. Return on Assets stood at 4.5%, while Return on Equity reached 26.5%, demonstrating strong asset productivity and disciplined capital allocation. 

He added:  “Our H1 2026 performance reflects the success of our deliberate transformation into a diversified, regional, technology‑enabled 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. As we progress towards our Africa Recovery and Resilience Plan (ARRP) 2030 ambitions, we are evolving beyond traditional banking into an integrated tech enabled financial institution that mobilizes capital, connects ecosystems, and accelerates inclusive, sustainable prosperity across Africa.” Equity’s technology-enabled transformation is now firmly embedded across the Group. Customer behavior continues to shift decisively toward digital channels, with 98.3% of all transactions occurring outside branches and 89.7% processed through digital platforms, demonstrating that customers are actively choosing the convenience and reliability of Equity’s digital ecosystem.”

Digital adoption continues to accelerate across the Group, with 98.3% of all transactions now occurring outside branches and 89.7% processed through digital platforms. These trends highlight customers’ growing preference for Equity’s digital ecosystem and the reliability of its technology infrastructure. 

The Group has continued modernizing core systems, payments infrastructure, and risk analytics. Workforce capability has also advanced significantly: 82% of staff have completed a business focused generative AI course. Furthermore, 55% of staff have completed two additional courses via the Huawei ICT Academy. Combined, staff completed 119,980 hours of guided AI instruction. 406 staff were admitted to Masters degree programs through WorldQuant University in Financial Engineering and Applied AI. These investments enable faster service delivery, enhanced risk management, and scalable growth across all markets. 

The Group has continued to reinforce its risk buffers and strengthen asset quality. NPL coverage improved to 70%, up from 68%, while loan loss provisions fell 6% year‑on‑year. The loan book recorded a notable improvement in non‑performing loans, declining from 13.7% to 9.5%, driven by disciplined underwriting, improved analytics, and a diversified portfolio. Cost of risk improved to 1.4% down from 1.7% These gains reflect the Group’s commitment to long‑term resilience and sustainability. 

Equity Bank Kenya’s recovery momentum continued posting a 32% increase in Profit After Tax to KSh25.7 billion (H1 2025: KSh19.5 billion) demonstrating strong leadership in the Kenya market with a 13% growth in assets underpinned by a 24% deposits growth and 8% loans growth. The bank recorded a return on average assets and a return on average equity of 4.8% and 34.7% respectively, all while maintaining its MSME leadership by disbursing 36% of the KSh101 billion MSME loans issued in Kenya between January and March 2026. 

Regional subsidiaries delivered strong and accelerating performance, now contributing 42% and 47% of the Group’s banking profitability and revenue respectively, 51% of Group deposits, 54% of Group loans and 52% of Group banking assets, a testament to the success of the Group’s pan‑African expansion strategy. Equity BCDC in the Democratic Republic of Congo achieved a 30% rise in Profit After Tax to KSh11.8 billion. Equity Rwanda grew Profit After Tax by 12% to KSh2.9 billion, and Equity Tanzania delivered exceptional performance with 82% growth to KSh2.0 billion.