Kenyan banker James Mwangi to earn $5.7 million dividend from Equity Group

Kenyan banker James Mwangi is set to receive a $5.7 million dividend after Equity Group Holdings reported higher earnings and increased shareholder payouts, underscoring gains at the Nairobi-based lender as it expands across East Africa.

Mwangi, who has led the group since 2004, when it operated as Equity Building Society, holds a 3.39 percent stake, or 127,809,180 shares. That holding is valued at about Ksh9.2 billion ($71 million) and will earn him a dividend of Ksh735 million ($5.7 million) from the payout.

The dividend forms part of a broader distribution to shareholders. Equity Group has proposed a final dividend of Ksh5.75 ($0.04) per share, up from Ksh4.25 ($0.03) a year earlier. The total payout stands at Ksh21.7 billion ($167.4 million) and is scheduled for payment on or after the company’s annual general meeting on June 24.

Earnings surge on regional expansion

The higher dividend follows a sharp rise in profit for the year ended Dec. 31, 2025. Net income climbed 54.6 percent to Ksh71.96 billion ($555.37 million), compared with Ksh46.55 billion ($359.22 million) a year earlier.

The lender said its regional operations continued to play a larger role, with subsidiaries in Uganda, Tanzania, Rwanda, South Sudan and the Democratic Republic of Congo contributing 45.5 percent of total earnings.

Revenue growth was supported by steady gains across the business. Interest income rose 2.9 percent to Ksh173.64 billion ($1.34 billion) from Ksh170.29 billion ($1.31 billion), while non-interest income increased 6.7 percent to Ksh90.8 billion ($700.8 million). The bank attributed the rise to higher fees, commissions and income from investments.

Assets rise 9.22 percent to $15.2 billion

The balance sheet also expanded, reflecting growth in lending and investment activity. Total assets increased 9.22 percent to Ksh1.97 trillion ($15.21 billion). Retained earnings rose 19.6 percent to Ksh278.5 billion ($2.15 billion), while shareholders’ funds reached Ksh309.5 billion.

The results underline Equity Group’s steady position in East Africa’s banking sector, with management signaling continued focus on regional markets and diversified income streams as it seeks to sustain earnings and shareholder returns.