Equity Group Holdings has reported the highest profit after tax in Kenya’s corporate history, with earnings rising 55% to KSh75.5 billion in the full year to December 2025, up from KSh48.8 billion the previous year.
The results, driven by improved operational efficiency, diversified revenue, and strong regional performance, pushed the Group’s balance sheet to KSh1.97 trillion, a 9% expansion, while customer deposits grew 4% to KSh1.46 trillion and net loans rose 8% to KSh882.5 billion.
Total income climbed 12% to KSh217.7 billion, with net interest income up 17% to KSh126.9 billion and non-funded income growing 7% to KSh90.8 billion. The cost-to-income ratio improved sharply, falling from 58.2% to 51.0%, as the Group continued migrating customers to digital and self-service channels. Over 98% of transactions were processed outside branches, with 88.4% going through digital platforms.
“The 2025 performance reflects the success of our deliberate transformation into a diversified, regional financial services group,” said Group Managing Director and CEO Dr. James Mwangi. “Our regional subsidiaries now contribute about half of our banking profitability, demonstrating the value of our pan-African footprint and the resilience that comes from diversification.”
On the back of the results, the board has recommended a dividend of KSh5.75 per share, up from KSh4.25, representing a total payout of KSh21.7 billion, a 35.3% increase on the prior year.
Equity Bank Kenya, the Group’s flagship subsidiary, posted a 63% jump in profit after tax to KSh39.2 billion, driven by a 28% rise in net interest income and a 37% reduction in interest expense. The bank was also recognised at the Kenya Bankers Association Sustainable Finance Initiative Awards as the Best Bank for MSME Financing, accounting for 45% of all bank lending to small and medium enterprises in the country.
Regional subsidiaries collectively contributed 51% of banking profit before tax. The DRC operation recorded a 58% rise in profit after tax to KSh24.7 billion, Uganda surged 500% to KSh3.6 billion, Rwanda posted KSh5.4 billion with a 22% loan book expansion, and Tanzania grew 125% to KSh2.7 billion.
Equity Insurance Group continued to scale following the acquisition of life, general, and health underwriting licences. Gross written premiums rose 75% to KSh9.17 billion, while profit before tax grew 36% to KSh2.0 billion. Equity Life Assurance, which has issued 19.2 million policies since inception, now serves 6.9 million customers. Equity General Insurance, in its first full year of operations, reported KSh1.79 billion in gross written premiums, while the health insurance unit posted KSh40 million in profit before tax within its first four months.
The Equity Group Foundation supported 1,115 scholars through global university scholarships, trained nearly one million entrepreneurs, and helped over 500,000 MSMEs access KSh401 billion in credit. The Foundation also trained more than 600,000 young people in AI, machine learning, and data analytics through partnerships with iamtheCODE, Huawei, and WorldQuant University. Its Equity Afya healthcare network, now 150 centres strong, served 4.6 million patients during the year.
Looking ahead, the Group is targeting operations in 15 countries and 100 million customers by 2030 under its Africa Recovery and Resilience Plan. Dr. Mwangi described the Group’s ambition as moving beyond traditional banking into what he called a Transformation Finance Institution, one that mobilises private capital and connects ecosystems to drive inclusive growth across the continent.
“We are investing in next-generation digital and AI-enabled capabilities that enhance customer experience, strengthen risk management and lower the cost-to-serve, while extending access to affordable credit, insurance and investment solutions,” he said.
Equity Bank retained its position as Kenya’s most valuable brand in 2025 and was named the Best Regional Bank in East Africa.
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