Equity Group Holdings Plc has reported a strong financial performance for the first half of 2026, with profit after tax rising by 32% to KSh45.5 billion, up from KSh34.6 billion recorded during the same period last year.
The Group's profit before tax increased by 39% to KSh57.8 billion, compared with KSh41.5 billion in the first half of 2025, according to results released on August 19, 2026.
The performance was supported by balance-sheet growth, stronger contributions from regional subsidiaries, increased non-funded income and continued investment in technology and digital capabilities.
Equity Group's balance sheet expanded by 20% to KSh2.16 trillion, from KSh1.80 trillion, while customer deposits grew by 21% to KSh1.59 trillion. The Group's loan book also expanded by 19% to KSh981 billion from KSh825 billion.
Regional businesses drive growth
Equity's regional operations continued to make a significant contribution to the Group's performance.
The regional subsidiaries accounted for 42% of banking profitability and 52% of banking revenue, while contributing 51% of Group deposits, 54% of Group loans and 52% of Group banking assets.
Equity Bank Tanzania recorded the strongest growth, with profit after tax increasing by 82% to KSh2 billion, while Equity BCDC in the Democratic Republic of Congo recorded a 30% increase in profit after tax to KSh11.8 billion.
Equity Rwanda's profit after tax increased by 12% to KSh2.9 billion.
Uganda was also identified among the markets making strong contributions to the Group's loan growth, alongside Tanzania and the Democratic Republic of Congo. Overall, Group net loans increased by 19% year-on-year across the corporate, retail, MSME and public-sector segments.
Digital banking continues to reshape operations
Technology remains central to Equity's growth strategy, with customers increasingly shifting from physical branches to digital channels.
The Group reported that 98.3% of all transactions now take place outside branches, while 89.7% are processed through digital platforms.
Equity currently serves 23.3 million customers through digital platforms including Equity Online, Eazzy FX, the Equity Mobile App, *247# and Equitel. Its physical and agency network includes 410 branches, 886 ATMs, 92,572 agency outlets and 1.4 million merchants.
The Group has also increased investment in artificial intelligence and staff capabilities. According to the results, 82% of staff have completed a business-focused generative AI course, while 406 staff members were admitted to Master's programmes in Financial Engineering and Applied AI through WorldQuant University.
Group Managing Director and Chief Executive Officer Dr James Mwangi said the results reflect a multi-year transformation focused on resilience, diversification and technology.
"The Group's performance is unfolding against a backdrop of resilient regional economic growth," Mwangi said, noting that Uganda's economy is projected to grow by 6.4% in the period.
He said Equity was moving beyond traditional banking towards an integrated, technology-enabled financial institution capable of mobilising capital and connecting economic ecosystems across Africa.
Non-funded income gains importance
Equity's revenue mix also continued to diversify.
Net interest income increased by 17% to KSh69.3 billion, while total income grew by 25% to KSh124.9 billion.
Non-funded income recorded particularly strong growth, rising 36% to KSh55.6 billion from KSh40.9 billion. It now accounts for 44.5% of total Group income, compared with 40.8% in the first half of 2025.
The Group also recorded improvements in efficiency and asset quality. Its cost-to-income ratio declined to 48.6% from 51.7%, while non-performing loans improved to 9.5% from 13.7%. NPL coverage increased to 70% from 68%.
Insurance and other businesses expand
Equity Insurance Group also maintained its growth trajectory, with gross written premiums increasing by 24% to KSh6.4 billion, while profit before tax rose by 34% to KSh1.25 billion.
The insurance business had issued 22.6 million life insurance policies and served 7.2 million unique customers consuming life insurance products. General insurance also served 24,745 micro and small enterprises.
Meanwhile, Equity Afya expanded its healthcare footprint to 156 medical centres, which have collectively recorded more than 5.3 million patient visits. The business has also opened its first community pharmacy as part of plans to expand access to affordable medicines.
Focus on MSMEs and financial inclusion
Equity Group Foundation continues to support entrepreneurship and financial inclusion across the region.
The Foundation has cumulatively trained more than one million entrepreneurs and facilitated more than KSh436 billion in credit access to MSMEs, supporting entrepreneurship and job creation.
The Group's education programmes have also expanded, with more than 11,663 active high-school scholars currently supported and 121 new global university admissions recorded in 2026.
Looking towards 2030
Equity Group said its future growth strategy will be anchored on its Africa Recovery and Resilience Plan (ARRP) 2030, which targets expansion into 15 countries, serving 100 million customers and deploying next-generation digital and AI-enabled systems.
The Group said its strong capital position and improving operational efficiency provide a foundation for the next phase of expansion.
The first-half results therefore point to a broader transformation in Equity's business model, with growth increasingly driven not only by traditional lending but also by regional expansion, digital services, insurance, healthcare, technology and financial inclusion.
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