Equity Group Holdings Plc has reported record-breaking financial results for the 2025 fiscal year, marking what can be described as a historic milestone in Kenya’s corporate sector. This growth was driven by aggressive regional expansion and a growing digital ecosystem, with the Group delivering a 55% growth in Profit After Tax (PAT), reaching KES 75.5 billion, up from KES 48.8 billion in FY 2024.
Equity Group Holdings demonstrated robust balance sheet expansion in FY 2025, with total assets growing by 9.22% to reach KES 1.97 trillion, up from KES 1.80 trillion in FY 2024. This growth was supported by a 12.85% growth in Government Securities to KES 577.8 billion and a 7.72% rise in Loans and Advances to KES 882.5 billion. Customer Deposits also saw a steady climb of 3.96%, closing the year at KES 1.46 trillion. Notably, Shareholders’ Funds surged by 32.24% to KES 309.5 billion, reflecting a significant strengthening of the Group’s capital base and acting as a major catalyst of the Group’s asset base growth.
The Group’s focus on risk management led to a marked improvement in asset quality, as Gross Non-Performing Loans declined by 9.75%, falling from KES 122.0 billion in FY 2024 to KES 110.1 billion in FY 2025. This reduction in the NPL stock, combined with a cost-to-income ratio improvement to 51%, signifies a healthier loan book and significantly enhanced operational efficiency.
Equity Group Records Higher EPS, Hikes Dividend
After maintaining a consistent dividend of KES 2.00 from 2015 to 2018, the Group paused payouts during 2019 and 2020 to preserve capital. This strategic move preceded a massive turnaround in 2021, where Earnings Per Share (EPS) nearly doubled to KES 10.38. The momentum reached its peak in FY 2025, with the Group delivering a record-breaking EPS of KES 19.07, representing a 54.54% year-on-year increase. Consequently, the Board recommended its highest-ever Dividend Per Share of KES 5.75, a 35.29% rise from the previous year, totaling a KES 21.7 billion payout. The dividend payment represented a payout ratio of 30.15% and a dividend yield of 7.3%.
Equity Regional Subsidiary and Insurance Arm Performance
Regional subsidiaries firmly established themselves as the engine of growth for Equity Group, now accounting for 51% of banking profit before tax and 48% of profit after tax. DR Congo remained a primary standout performer, with PAT rising 58% to KES 24.7 billion, while Uganda experienced a remarkable surge, with its PAT growing 500% to KES 3.6 billion. This regional momentum was further supported by Tanzania, where PAT increased by 125% to KES 2.7 billion alongside a 75% growth in shareholders’ funds, and Rwanda, which reported a PAT of KES 5.4 billion following a 22% expansion of its loan book.
The Group’s strategic expansion into insurance also delivered high-velocity growth during the period, as gross written premiums rose by 75% to KES 9.17 billion and insurance revenue surged by 150% to KES 3.57 billion. Equity Life Assurance was a key contributor to this segment, providing KES 1.77 billion to Profit Before Tax (PBT). Meanwhile, Equity General Insurance reported KES 1.79 billion in premiums and KES 199 million in PBT during its first year of operation, and Equity Health Insurance demonstrated rapid scaling by generating KES 20 million in premiums and KES 40 million in PBT within its first four months of existence.
“The 2025 performance reflects the success of our deliberate transformation into a diversified, regional financial services group. We delivered strong profit growth by expanding and deepening our income streams, improving efficiency across the franchise, and strengthening the quality of our balance sheet. Importantly, 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,” – Dr. James Mwangi, Group Managing Director and CEO.
Looking ahead, the Group aims to expand its footprint to 15 countries and serve 100 million customers by 2030 under its Africa Recovery and Resilience Plan (ARRP). By evolving into a Transformation Finance Institution, Equity intends to continue mobilizing capital and enabling cross-border trade to drive inclusive growth across the continent.
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