By BigEyeUg Team
Equity Group Holdings Plc has solidified its position as a leading financial services provider in East Africa, reporting a pretax profit of Ksh13.1 billion in 2024, with its Ugandan subsidiary, Equity Bank Uganda, spearheading a remarkable revival.
The group’s strong performance has positioned it as a formidable player in the region’s money market, driven by its diversified operations across Kenya, DR Congo, Rwanda, and beyond.
Announcing the Q1 2025 results, James Mwangi, Managing Director and CEO of Equity Group Holdings Plc, highlighted the group’s resilience amid a challenging global economic environment.
“We are proud of the resilience demonstrated by the group amidst a challenging global economic landscape, where our financial strength provides the flexibility to seize opportunities as the regional economy presents diversified levers for growth,” Mwangi said.
The group reported a 7% year-on-year increase in customer deposits, rising from Ksh1.24 trillion to Ksh1.32 trillion, which fueled a 3% growth in net loans to Ksh804.7 billion from Ksh779.2 billion.
Total assets also grew by 4% to Ksh1.75 trillion from Ksh1.69 trillion, underscoring the group’s stability and capacity to drive economic transformation in the region.
Equity Group’s diversified business model and prudent financial management delivered a Return on Equity (ROAE) of 23.9% and a Return on Assets (ROA) of 3.5%, culminating in a Profit After Tax (PAT) of Ksh15.4 billion. Excluding the impact of non-operational inflation accounting in South Sudan, the group’s profit before tax grew by 8%, from Ksh17.3 billion to Ksh18.8 billion.
The group’s solid financial foundation has enabled it to capitalize on regional opportunities, cementing its role as a systemic financial services provider in East Africa. With a strategic focus on expansion and innovation, Equity Group continues to drive economic growth and transformation across the region.
