Kenya banker James Mwangi leads Equity Group to $555.4 million profit in 2025

Equity Group, East Africa’s leading financial services group led by Kenyan banker James Mwangi, reported a robust financial performance for its 2025 fiscal year (FY 2025), with profit rising to $555.41 million, driven by its regional diversification strategy.

According to the group’s audited financial statement, profit increased by 54.6%, rising from Ksh46.55 billion ($359.22 million) in 2024 to Ksh71.96 billion ($555.37 million) in the twelve months of its 2025 fiscal year. The bank’s growth was driven by its successful regional diversification strategy, with subsidiaries across Uganda, Tanzania, Rwanda, South Sudan, and the Democratic Republic of Congo contributing 45.5% of earnings.

Profit growth lifted by strong interest and non-interest income 
Profit growth was supported by gains in both interest and non-interest income. Interest income climbed 2.9% to Ksh173.64 billion ($127.93 million) from Ksh170.29 billion ($125.46 million), while non-interest income surged 6.7% to Ksh90.8 billion ($700.8 million) from Ksh85.07 billion ($656.59 million), reflecting higher fees, commissions, and dividend income. 

Customer deposits grew 3.9% to Ksh1.46 trillion ($11.23 billion) from Ksh1.399 trillion ($10.8 billion), bolstered by strong retail and corporate banking growth. Liquidity remained healthy, with the liquidity ratio at 64.7%, well above the statutory minimum of 20%, underpinned by cash and balances of Ksh74.38 billion ($574.13 million).

Equity Group posts strong growth, boosts dividends
Equity Group Holdings Plc has continued its expansion across East and Central Africa, with operations spanning Kenya, Uganda, Tanzania, South Sudan, Rwanda, and the Democratic Republic of the Congo. 

Under James Mwangi, the lender’s balance sheet strengthened, with total assets increasing 9.22% to Ksh1.97 trillion ($15.21 billion), driven by higher investment securities and net loans to customers.

Retained earnings grew 19.6% to Ksh278.5 billion ($2.15 billion), while total shareholders’ funds rose to Ksh309.5 billion ($2.39 billion). Reflecting robust performance, the board recommended a dividend of Ksh5.75 ($0.04) per share, up from Ksh4.25 ($0.03) in 2024, payable subject to shareholder approval in May 2026.