Equity Group Holdings, one of Africa’s most dynamic banking conglomerates, reported a net profit of $405 million (Sh54.1 billion) for the three months ending September 2025, a 32% jump from $307 million (Sh40.9 billion) in the previous quarterEquity Group Holdings posted a record $405 million profit in Q3 2025, a 32% jump from the previous quarter.Regional subsidiaries contributed nearly half of the Group’s revenue and profits, with strong growth in DRC, Uganda, Rwanda, and Tanzania.The Group maintained industry-leading efficiency, cutting its cost-to-income ratio to 50.6% and reducing non-performing loans to 12.1%.CEO James Mwangi credits the performance to Equity’s pan-African diversification, MSME empowerment, and digital transformation strategy.
The surge, according to the Group, reflects strong regional performance, improved efficiency, and easing global economic pressures that have stabilized Africa’s financial environment.“Our Q3 performance reflects the strength of our diversified tri-engine business model, operational efficiency, and continued commitment to transforming lives,” said James Mwangi, Equity Group Managing Director and CEO, during an investor briefing in Nairobi.Mwangi added that the Group’s growth is being driven by its strategy of empowering small and medium-sized enterprises (SMEs), leveraging digital platforms, and aligning with Africa’s broader socio-economic and sustainability goals.
The Group’s regional subsidiaries continued to deliver strong results, contributing 45% of gross earnings and 42% of net profits.At least half of Equity’s deposits, loans, and banking assets now come from outside Kenya, underscoring its evolution into a truly pan-African financial powerhouse.In the Democratic Republic of Congo, Equity BCDC posted a 21% profit growth to $104 million (Sh13.8 billion), while Uganda’s profits rose 61% to $22 million (Sh2.9 billion).Rwanda expanded its total assets to $921 million (Sh122.9 billion), and Tanzania nearly doubled its after-tax profit to $11 million (Sh1.5 billion).“We are particularly proud of our regional subsidiaries, which have demonstrated resilience and contributed significantly to our overall performance,” Mwangi noted.Kenya remains the core, but diversification deepens
Back home, Equity Bank Kenya contributed the largest share of profits, $233 million (Sh31.1 billion), up from $155 million (Sh20.6 billion) in the previous quarter.The lender maintained strong asset quality with its non-performing loan (NPL) ratio improving to 12.1%, outperforming Kenya’s industry average of 17.1%. Its Return on Average Equity stood at 26.4%, and Return on Assets at 4.1%—among the highest in the continent.Technology and insurance boost non-banking growth
Beyond traditional banking, Equity’s insurance arm posted a 36% increase in gross profits to $11 million (Sh1.46 billion), driven by a 71% surge in gross written premiums to $49 million (Sh6.55 billion).
Its non-banking ventures, including technology and insurance, now account for 3% of Group revenue, up from 2.8% a year ago.As global inflation eases and Africa’s economies show resilience amid geopolitical uncertainty, Equity Group’s results signal renewed investor confidence in the continent’s banking future.“By aligning with Africa’s socio-economic priorities, we are not just building a bank, we are driving inclusive growth and creating shared prosperity,” Mwangi emphasised.With half its profits now coming from beyond Kenya, Equity Group’s pan-African ambition is steadily transforming it from a domestic lender into one of Africa’s most influential financial players.
