Equity Group Holdings has announced Sh15.4 billion net profit for the first quarter of the year. This Equity Group Q1 2025 net profit was a drop of 4 percent when compared to the Sh16 billion net profit the Group realized in the same period in 2024.
Profit before tax was down 8 percent to Sh18.7 billion from the Sh20.4 billion that was recorded the same quarter in the previous year.
During the quarter, customer deposits went up by 7 percent to Sh1.32 trillion while total assets closed the three month period ended March 31 at Sh1.75 trillion. Net interest income went up by 3 percent to Sh28.6 billion while non-funded income dropped by 12 percent to Sh19.6 billion.
During the period under review, net loans went up by 3 percent to Sh804.7 billion. The Group’s non-performing ration stood at 14 percent compared to the industry average of 17 percent.
Equity Bank Tanzania and Equity Bank Rwanda emerged as the fastest-growing subsidiaries in the quarter under review. Equity Bank Rwanda was ranked as the most efficient subsidiary.
Nonetheless, the Equity Bank was the largest contributor to the Group’s overall profits with a 55 percent contribution. At the same time, Equity Bank Kenya’s revenues went up by 19 percent. Deposits increased by 7 percent to Sh792.7 billion. Non-funded income increased by 23 percent to Sh7.57 billion while return on asset and equity improved to 3.4 percent and 26 percent respectively.
Equity Group pledges support for Kenya’s leather industry to boost global competitiveness
“Despite the global uncertainties and geopolitical tensions that created a complex financial landscape, Equity remains resilient and focused on delivering value to all our stakeholders,” said Dr James Mwangi, the Group managing Director and Chief Executive Officer.
“Equity is strongly positioned across all our subsidiaries. As we continue our transformation journey, we see significant opportunities for sustained growth. We are a global brand, one of the strongest, not just in valuation but also in global rankings. We are open to partnering with development organizations to fund infrastructure, trade, and other key sectors.”
