Equity Bank’s Resilient Strategy Drives Balance Sheet Close to KSh500 Billion, Boosting Confidence for Kenyans in the Diaspora
NAIROBI, Kenya – Equity Bank demonstrated remarkable resilience by growing its balance sheet to nearly KSh500 billion despite one of the toughest economic periods in Kenya’s banking sector. The bank’s strong performance reaffirmed its position as one of Africa’s leading financial institutions and an increasingly attractive banking partner for Kenyans living abroad seeking secure investment opportunities back home.
The impressive financial performance came during a period marked by banking sector uncertainty, interest rate caps, drought, inflation, currency volatility, and slowing regional economies. Even under these challenging conditions, Equity Group successfully expanded its customer base, strengthened its regional operations, and accelerated digital banking adoption.
Equity Group Records Strong Financial Performance
Equity Group reported a Profit Before Tax of KSh24.9 billion, up from KSh24.0 billion the previous year.
Regional subsidiaries continued to play a growing role in the bank’s success, contributing KSh1.4 billion, representing approximately 5 percent of total Group profit before tax.
The bank also maintained an exceptionally strong financial position, ending the year with:
- Liquidity levels above 48%
- Capital Adequacy Ratio exceeding 19%
- Earnings Per Share (EPS) of KSh4.38
The Board proposed a dividend payout of approximately KSh7.5 billion, highlighting continued value creation for shareholders.
Digital Banking Revolution Continues
One of the biggest drivers of Equity Bank’s growth has been its aggressive investment in digital financial services.
Customer deposits increased by 11%, rising from KSh303 billion to KSh337 billion, supported by customer growth from 10 million to over 11.1 million account holders.
Digital banking platforms including:
- Equitel
- Eazzy Banking App
- Equity Agency Banking
continued transforming how customers access financial services.
Annual banking transactions surged from 200 million to 335 million, representing an impressive 67% increase.
Agency Banking and mobile banking alone processed over 289 million transactions, demonstrating the growing preference for convenient digital banking solutions.
Equitel and Eazzy Banking Gain Momentum
Equitel subscriptions grew rapidly from 1.6 million users to 2.7 million customers, while the newly launched Eazzy Banking App recorded over 130,000 downloads within its first year.
Meanwhile, the number of Equity Agents expanded from 23,885 to nearly 30,000, significantly improving financial access across Kenya.
These innovations have enabled customers to transfer money, pay bills, save, borrow, and manage accounts directly from their mobile devices, reducing dependence on physical bank branches.
Why This Matters for Kenyans Living Abroad
For the Kenyan diaspora, Equity Bank’s continued investment in digital banking creates easier and safer ways to remain financially connected with home.
Diaspora customers benefit from:
- Fast and secure money transfers
- Convenient mobile banking
- Remote account management
- Property investment financing
- Construction loans
- SME financing
- Savings and investment products
- Cross-border banking services
As more Kenyans relocate abroad for work, education, and business, digital banking continues to bridge the gap between overseas income and investment opportunities in Kenya.
SME Lending and Business Growth
Although lending conditions became more difficult following interest rate caps, Equity Bank continued supporting entrepreneurs and small businesses.
The bank’s SME loan portfolio grew by 10%, with the total loan book reaching KSh266 billion.
During the year, Equity disbursed approximately 6.3 million loans, with 85 percent processed digitally through Equitel, significantly reducing turnaround time for borrowers.
Investment securities also expanded dramatically, increasing from KSh43 billion to KSh101 billion.
Regional Expansion Strengthens the Bank
Equity’s strategy of expanding across East and Central Africa continued delivering positive results.
Its subsidiaries recorded impressive deposit growth:
- Rwanda — 34%
- Democratic Republic of Congo — 29%
- Tanzania — 23%
Loan growth was equally impressive:
- DRC — 25%
- Uganda — 24%
- Rwanda — 22%
This regional diversification has helped reduce reliance on any single market while strengthening the Group’s long-term stability.
Revenue Continues to Rise
Driven by increased customer activity and stronger regional operations, total Group revenue rose by 14%, increasing from KSh56 billion to KSh64 billion.
Interest income climbed by 19%, reaching KSh52 billion, while non-funded income remained strong at KSh22.2 billion.
Despite economic headwinds, the bank maintained healthy asset quality with a Non-Performing Loan (NPL) ratio of 6.8%, well below the estimated industry average of over 10%.
Equity Foundation Continues Transforming Lives
Beyond banking, Equity Group Foundation continued expanding its social impact programs across education, agriculture, entrepreneurship, and healthcare.
Key achievements included:
- 14,168 Wings to Fly scholarship beneficiaries
- 5,060 Equity Leaders Program scholars
- 363 students studying at international universities
- More than 500,000 farmers transformed into agribusiness entrepreneurs
- 2,616 medium-scale farmers supported
- 1.45 million women and youth trained in financial literacy
The Foundation also expanded healthcare through the launch of Equity Afia Clinics, opening facilities in Rongai, Buruburu, Kayole, Thika, and Kawangware.
International Recognition
Equity Bank’s strong performance earned multiple prestigious global awards.
Among its achievements:
- Fastest Growing Large Bank in Africa
- Africa’s Best Bank
- Kenya’s Best Bank
- Kenya’s Best SME Bank
- Investment Grade AA- Rating with Stable Outlook
- Top Banking Superbrand in Kenya for ten consecutive years
Locally, the bank dominated the Think Business Banking Awards, winning:
- Best Bank Overall
- Best Tier One Bank
- Best SME Bank
- Best Retail Bank
- Best Agency Banking
- Best Microfinance Bank
- Looking Ahead
Equity Bank says it will continue investing heavily in:
- Digital innovation
- Customer experience
- Regional expansion
- Financial inclusion
- Technology-driven banking
- Strong liquidity management
- Sustainable shareholder value
The bank also plans to further unlock growth opportunities across its subsidiaries while maintaining prudent risk management and supporting businesses and households throughout East and Central Africa.
For millions of Kenyans in the diaspora, Equity Bank’s continued digital transformation and regional growth provide greater confidence in managing finances, investing back home, and supporting family members through secure and efficient banking solutions.
