By Benadeta Mwaura - Reporter
Kenya, August 19 , 2026 - Equity Group Holdings has reported a 32% increase in profit after tax to KSh45.5 billion for the six months ended June 2026, as stronger regional operations, loan growth and rising income from non-funded businesses lifted the banking group's performance.
The profit increased from KSh34.6 billion recorded during the same period last year, while profit before tax rose 39% to KSh57.8 billion from KSh41.5 billion.
The group's balance sheet expanded by 20% to KSh2.16 trillion, up from KSh1.80 trillion in the first half of 2025.
Customer deposits increased 21% to KSh1.59 trillion, while the loan book expanded by 19% to KSh981 billion, compared with KSh825 billion a year earlier. Shareholders' funds also increased 27 per cent to KSh350 billion.
A major feature of the results is the growing contribution of Equity's operations outside Kenya.
The group's regional subsidiaries accounted for 42% of banking profitability and 47% of banking revenue during the period.
They also accounted for 51% of group deposits, 54% of loans and 52% of banking assets.
Equity's Democratic Republic of Congo operation, Equity BCDC, recorded a 30% increase in profit after tax to KSh11.8 billion.
Profit in Rwanda increased 12% to KSh2.9 billion, while Tanzania recorded the fastest growth, with profit rising 82% to KSh2 billion.
The figures reinforce the growing importance of the regional businesses to Equity's overall earnings as the group continues to pursue its pan-African expansion strategy.
Equity Bank Kenya's profit after tax increased 32 per cent to KSh25.7 billion, up from KSh19.5 billion.
The Kenyan unit's balance sheet grew by 13%, supported by a 24% increase in customer deposits and an 8% rise in loans.
The bank also recorded 11% quarter-on-quarter loan growth, marking its first double-digit quarterly loan growth since the third quarter of 2021.
Equity said its Kenyan operation maintained a strong position in the micro, small and medium enterprises market, accounting for 36% of the KSh101 billion in MSME loans issued in Kenya between January and March 2026.
Equity's growth was also supported by income generated outside traditional lending.
Non-funded income increased 36% to KSh55.6 billion, from KSh40.9 billion, raising its contribution to total group income to 44.5% from 40.8%.
Net interest income, meanwhile, rose 17% to KSh69.3 billion, while total income increased 25% to KSh124.9 billion.
The results show that the group's earnings are increasingly being supported by a combination of lending, regional operations and other financial services rather than interest income alone.
More from Kenya
Equity also reported an improvement in the quality of its loan book.
The group's non-performing loan ratio fell to 9.5% from 13.7%, moving into single digits.
Non-performing loan coverage improved from 68% to 70%, while loan-loss provisions declined by 6% year-on-year.
The cost of risk also fell from 1.7% to 1.4% cost-to-income ratio improved from 51.7% to 48.6%.
The improvement is significant because it suggests that the growth in lending has been accompanied by better loan-book quality, rather than simply an expansion in the volume of credit.
Equity's results also highlight the group's continued shift away from physical banking.
The lender said 98.3% of transactions now take place outside branches, with 89.7% processed through digital platforms.
The group currently serves 23.3 million customers through platforms including Equity Online, the Equity Mobile App, *247#, Eazzy FX and Equitel.
The group is also increasing investment in artificial intelligence. Equity said 82% of its staff had completed a business-focused generative AI course, while staff collectively completed nearly 120,000 hours of guided AI training.
The latest results come after Equity reported KSh75.5 billion in full-year 2025 profit after tax, a 55% increase from KSh48.8 billion in 2024.
The half-year results therefore show that the strong performance has continued into 2026, with the group's balance sheet expanding, regional businesses contributing more significantly and asset quality improving.
Equity Group CEO Dr James Mwangi attributed the performance to a multi-year transformation programme focused on resilience, diversification and technology.
“Equity’s half-year 2026 performance is the outcome of a multiyear transformation agenda focused on resilience, diversification, and technology enablement.”
For Equity, the numbers point to a banking group that is becoming increasingly regional, digital and diversified, with its businesses outside Kenya now accounting for a substantial share of its overall banking performance.
The KSh45.5 billion profit is therefore not only a record half-year number; it also highlights how much of Equity's growth is increasingly coming from beyond its traditional Kenyan banking base.