Equity Group reports Ksh.15.4B profit after tax

Equity Group posted Ksh.15.4 billion profit after tax in the first quarter of 2025 ended March 31, per the lender’s financials released on Thursday.

This was a 4 percent year-on-year decline from the Ksh.16.0 billion in Q1 of 2024.

The largest bank in East and Central Africa by market capitalization reported a total income of Ksh.48.2 billion for Q1 2025, representing a 4% year-on-year decline.

But the group’s net interest income rose 3 percent to Ksh.28.6 billion and loan loss provisions fell by 44 percent to Ksh.3.4 billion.

Equity’s Kenya subsidiary registered a 7 percent growth in deposits to Ksh.792.7 billion, while non-funded income increased by 23 percent to Ksh.7.57 billion, resulting in a 50 percent increase in profit before tax to Ksh.9.9 billion.

Kenya’s return on asset and equity improved to 3.4 percent and 26.0 percent respectively.

For the insurance business, the group, which also has operations in Uganda, Tanzania, Rwanda, Burundi, South Sudan, and DRC, recorded a 27 percent increase in profit before tax to Ksh. 414 million from Ksh.321 million.

Meanwhile, the group’s foreign exchange trading platform, EazzyFX, recorded Ksh.29.5 billion in transaction value, up from Ksh.24.1 billion.