Equity Group Holdings, East Africa's largest banking group, released its H1 2026 results on Wednesday. Net profit surged 32% to KSh 45.5 billion, or $351 million — powered by regional expansion and an accelerated shift to digital banking.
Record Numbers Across All Metrics
Pre-tax profit climbed 39% to KSh 57.8 billion ($447 million). Total group revenue grew 25% to KSh 124.9 billion. The balance sheet now exceeds KSh 2.16 trillion ($16.7 billion), supported by a 21% rise in customer deposits and 19% growth in net loans.
Equity Group now serves 23.3 million customers across six countries in East and Central Africa.
Regional Expansion Reshaping the Profit Map
While Kenya remains dominant, the profit geography is rebalancing. Regional subsidiaries now account for 42% of banking profitability and 47% of banking revenues. The Democratic Republic of Congo posted 30% growth to KSh 11.8 billion — a remarkable performance in one of the continent's most complex markets.
Tanzania stands out with a spectacular 82% jump to KSh 2 billion. Rwanda (+12%) and Uganda round out a thriving regional ecosystem.
Digital as Growth Engine
98.3% of transactions now occur outside physical branches. The digital platform handles 89.7% of all transactions. This technological shift allows Equity to serve unbanked populations at lower cost while improving margins in peripheral markets.
The group also announced deepened partnerships with local fintechs under an open banking strategy ahead of regional regulations expected by 2027.
Why It Matters
Equity Group's results signal that digital banking is now a powerful profitability lever in Africa — not just a social inclusion tool. For financial players across the Indian Ocean, this model is a reference: organic growth, geographic diversification and digital transformation as a triple growth engine.
Sources: TechMoran, CNBC Africa, Business Today Kenya, Ecofin Agency — August 2026