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Equity Group, one of East and Central Africa’s biggest financial institutions, led by Kenyan banker James Mwangi, posted a strong set of results for the first nine months of 2025, with profit after tax climbing to Ksh54.12 billion ($420 million).
Profit jumps 32 percent on regional strength
According to unaudited results for the period ended Sept. 30, profit rose from Ksh40.94 billion ($316.9 million) a year earlier, supported by steady revenue growth, improved operating efficiency, and stronger contributions from regional subsidiaries. The rebound in the Kenyan market also played a key role in lifting overall earnings.
The third quarter was particularly strong, with net profit up 32 percent year-on-year. Return on average equity stood at 26.4 percent while return on average assets came in at 4.1 percent, reflecting the group’s effective use of capital and balance-sheet discipline.
Equity Group boosts income, cuts costs
Equity’s revenue base showed healthy diversification. Net interest income grew 16 percent, driven by an expanded loan book, while non-funded income rose 3 percent as digital channels and transaction volumes increased.
Cost management improved significantly, thus driving the cost-to-income ratio to 50.6 percent from 55.1 percent. While asset quality remained stable as the non-performing loan coverage ratio strengthened to 71.4 percent, thus keeping the cost of risk contained at 1.9 percent.
“Our Q3 2025 performance reflects the strength of our diversified tri-engine business model, operational efficiency, and continued commitment to transforming lives,” said James Mwangi, Equity Group’s chief executive officer. “By empowering MSMEs, leveraging digital platforms, and aligning with Africa’s socio-economic and sustainability priorities, we continue to drive inclusive growth and create shared prosperity. We are proud of our regional subsidiaries, which have demonstrated resilience and contributed significantly to our overall performance.”
Interest income for the period rose from Ksh80.6 billion ($623.9 million) to Ksh93.5 billion ($723.7 million), while non-interest income increased slightly from Ksh61.1 billion ($473 million) to Ksh62.6 billion ($484.6 million). The gains reflect continued loan growth and steady fee-based income from the group’s digital and regional operations.
Equity Group expands assets to $14.1 billion
Equity Group, which operates in Uganda, Tanzania, Rwanda, South Sudan and the Democratic Republic of Congo, continues to strengthen its regional presence. Under Mwangi, the bank has evolved from a community lender in Kenya into one of Africa’s leading financial institutions. Mwangi remains the group’s largest individual shareholder, holding a 3.39 percent stake.
The group’s balance sheet expanded further during the review period. Total assets rose to Ksh1.82 trillion ($14.1 billion) as of Sept. 30, 2025, up from Ksh1.7 trillion ($13.16 billion) a year earlier. Shareholder funds grew to Ksh303.2 billion ($2.35 billion), while retained earnings increased to Ksh279 billion ($2.16 billion).
