Kenyan banker James Mwangi, chief executive officer and group managing director of Equity Group Holdings, has seen the market value of his stake in Equity Group Holdings rise by $12.1 million since the start of the year, reflecting a steady increase in the lender’s share price on the Nairobi Securities Exchange (NSE).

Data tracked by Shore.Africa shows that Mwangi, who owns a 3.39-percent stake in Equity Group, equivalent to 127.81 million shares, has seen the value of his holding rise by KSh1.57 billion ($12.1 million). His stake, valued at KSh8.53 billion ($65.9 million) at the start of the year, was worth KSh10.1 billion ($78 million) at the time this report was prepared.

Stock climbs on earnings growth

The gain reflects a steady rise in Equity Group’s share price on the NSE. The stock has climbed 18.3 percent, from KSh66.75 ($0.515) on Jan. 1 to KSh79 ($0.61), as investors responded to another period of strong earnings growth from the lender under Mwangi’s leadership.

That optimism has been supported by the group’s latest financial results. Equity Group, one of East Africa’s largest financial institutions, entered 2026 after posting annual profit of more than $555 million in 2025 and carried that performance into the new year.

Retained earnings strengthen balance sheet

For the three months ended March 2026, profit after tax rose 24 percent to KSh19.1 billion ($150 million), up from KSh15.4 billion ($120 million) a year earlier. The increase was driven by higher income from core banking operations, disciplined cost management and stronger contributions from subsidiaries across the region.

Revenue growth came from both interest income and fees, giving the lender a broader mix of earnings as it continued to expand across East Africa. The bank’s balance sheet also grew during the quarter, with total assets rising 3.5 percent to KSh2.04 trillion ($15.76 billion) as of March 31, 2026, from KSh1.97 trillion ($15.21 billion) at the end of December 2025.

Customer deposits increased 13 percent, while net loans expanded by 9 percent, underscoring continued demand for credit across its markets. Shareholders’ funds climbed to KSh326.5 billion ($2.52 billion), compared with KSh309.5 billion ($2.4 billion) three months earlier, while retained earnings rose to KSh278.5 billion ($2.15 billion).