Equity Group Holdings Plc released its Q1 2025 financial results today, reporting a 4% decline in profit after tax to KSh 15.4 billion, down from KSh 16.0 billion in Q1 2024. The drop was attributed to a 3.8% decrease in total operating income to KSh 48.2 billion, driven by a 12% fall in non-funded income to KSh 19.6 billion. Profit before tax also slipped 8% to KSh 18.7 billion.
Despite the profit dip, the banking group showed resilience in key areas. Net interest income grew 3% to KSh 28.6 billion, while loan loss provisions dropped significantly by 44% to KSh 3.4 billion, signaling improved asset quality. Total assets expanded 3.7% to KSh 1.75 trillion, with customer deposits rising 7% to KSh 1.32 trillion and net loans increasing 3.3% to KSh 804.7 billion. Shareholders’ funds surged 19.2% to KSh 251.3 billion, underscoring strong capital growth.
Non-banking subsidiaries shone, with assets up 37% to KSh 33.7 billion and revenue climbing 42% to KSh 2.1 billion. The Insurance Group led with a 137% revenue jump to KSh 1.08 billion, while Equity Investment Bank’s profit before tax soared 142% to KSh 0.09 billion. Non-banking units contributed 4.0% to group profit, up from 3.1% last year.
Equity Group hosted a live investor briefing at 7:45 AM today, streamed on its website and Facebook page, to discuss the results. The performance reflects a challenging economic backdrop, with growth in deposits and assets offset by pressures on income, possibly linked to macroeconomic factors like tariffs and currency fluctuations.
