Equity Group Holdings keeps making money despite a tough economy. In 2024, they earned 48.8 billion Kenyan shillings after taxes. Their profits before tax grew 17% to reach 60.7 billion shillings. Each share earned 12.3 shillings, up 11% from last year. These numbers show how well their business plan has worked during hard times.
The company attracted more customers and grew its deposits to 1.4 trillion shillings. It serves 21.6 million people across Africa. Its cash reserves jumped 19% to 345 billion shillings. It also holds 512 billion shillings in investments, giving it a strong liquidity ratio of 57%. These resources help it fund its Africa Recovery and Resilience Plan.
CEO James Mwangi praised his team for staying strong despite global problems. He said the company remains ready to help customers as new growth happens across Africa. The bank plans to pay shareholders 4.25 shillings per share as dividends, which equals 34.5% of its profits. The company earned 21.5% return on equity and 2.8% return on assets—both better than industry averages.
The bank operates in six African countries. Their businesses outside Kenya bring in half their assets and profits. Rwanda operations grew revenue by 36%, Tanzania by 20%, and Congo by 9%. Profit growth was even stronger: Rwanda up 30%, Tanzania up 107%, Uganda up 186%, and Congo up 29%. Equity Bank Kenya cut loan interest rates three times recently to help businesses borrow more easily.
They set aside 20.2 billion shillings to cover possible bad loans. Their rate of problem loans stayed at 12.2%, much lower than the industry average of 16.4%. They have reserves covering 71% of these troubled loans. Their life insurance business profits jumped 58% to 1.5 billion shillings. Investment returns for policyholders reached 13.5%.
The company recently added general insurance to its services, allowing it to offer complete protection for all customer types. Despite market challenges, its insurance division grew premium collections by 6%. It invested heavily in people, digital systems, and better processes. Its insurance payment financing program saw 50% more customers sign up.
Most customer transactions - 86% - happen through digital channels. Their mobile banking value grew 67% to 3.174 trillion shillings. Business online banking jumped 21% to 3.841 trillion shillings. Merchant payments increased 14% to 2.149 trillion shillings. ATM transactions rose 21% to 481.4 billion shillings. Branch transactions still grew 21% to 5.046 trillion shillings.
Brand Finance ranked Equity as the second strongest banking brand worldwide. They value the brand at $450 million (64 billion shillings). Think Business Banking awards named Equity the best bank in many categories, including digital banking, trade financing, agriculture lending, product innovation, and small business banking. Their insurance and investment services also won awards.
The Equity Leaders Program gave 113 scholars full college scholarships at top global schools. The program has sent 970 students to 233 universities across 37 countries. They added 750 new scholars this year, bringing the total to 29,515 participants. The program has created 9,700 paid internships and supported 3,979 technical education students.
Equity leads in climate action by planting 35 million trees and lending $200 million for green projects. They distributed 466,975 clean energy products to homes and businesses. The International Finance Corporation rated them first globally for climate transactions among 258 financial institutions. They helped train 2.4 million women and youth in money management and 634,059 small businesses in entrepreneurship.
Their social support programs reached 5.79 million people through 164.2 billion shillings in cash transfers. Their health clinics served 3.3 million patient visits across 132 medical centers. CEO Mwangi said Equity remains focused on financial inclusion, regional growth, and sustainable development as they create value for customers and shareholders across Africa.
The company attracted more customers and grew its deposits to 1.4 trillion shillings. It serves 21.6 million people across Africa. Its cash reserves jumped 19% to 345 billion shillings. It also holds 512 billion shillings in investments, giving it a strong liquidity ratio of 57%. These resources help it fund its Africa Recovery and Resilience Plan.
CEO James Mwangi praised his team for staying strong despite global problems. He said the company remains ready to help customers as new growth happens across Africa. The bank plans to pay shareholders 4.25 shillings per share as dividends, which equals 34.5% of its profits. The company earned 21.5% return on equity and 2.8% return on assets—both better than industry averages.
The bank operates in six African countries. Their businesses outside Kenya bring in half their assets and profits. Rwanda operations grew revenue by 36%, Tanzania by 20%, and Congo by 9%. Profit growth was even stronger: Rwanda up 30%, Tanzania up 107%, Uganda up 186%, and Congo up 29%. Equity Bank Kenya cut loan interest rates three times recently to help businesses borrow more easily.
They set aside 20.2 billion shillings to cover possible bad loans. Their rate of problem loans stayed at 12.2%, much lower than the industry average of 16.4%. They have reserves covering 71% of these troubled loans. Their life insurance business profits jumped 58% to 1.5 billion shillings. Investment returns for policyholders reached 13.5%.
The company recently added general insurance to its services, allowing it to offer complete protection for all customer types. Despite market challenges, its insurance division grew premium collections by 6%. It invested heavily in people, digital systems, and better processes. Its insurance payment financing program saw 50% more customers sign up.
Most customer transactions - 86% - happen through digital channels. Their mobile banking value grew 67% to 3.174 trillion shillings. Business online banking jumped 21% to 3.841 trillion shillings. Merchant payments increased 14% to 2.149 trillion shillings. ATM transactions rose 21% to 481.4 billion shillings. Branch transactions still grew 21% to 5.046 trillion shillings.
Brand Finance ranked Equity as the second strongest banking brand worldwide. They value the brand at $450 million (64 billion shillings). Think Business Banking awards named Equity the best bank in many categories, including digital banking, trade financing, agriculture lending, product innovation, and small business banking. Their insurance and investment services also won awards.
The Equity Leaders Program gave 113 scholars full college scholarships at top global schools. The program has sent 970 students to 233 universities across 37 countries. They added 750 new scholars this year, bringing the total to 29,515 participants. The program has created 9,700 paid internships and supported 3,979 technical education students.
Equity leads in climate action by planting 35 million trees and lending $200 million for green projects. They distributed 466,975 clean energy products to homes and businesses. The International Finance Corporation rated them first globally for climate transactions among 258 financial institutions. They helped train 2.4 million women and youth in money management and 634,059 small businesses in entrepreneurship.
Their social support programs reached 5.79 million people through 164.2 billion shillings in cash transfers. Their health clinics served 3.3 million patient visits across 132 medical centers. CEO Mwangi said Equity remains focused on financial inclusion, regional growth, and sustainable development as they create value for customers and shareholders across Africa.
