Equity Group Holdings has reported strong first quarter 2026 financial results, underlining the Group’s accelerating regional expansion strategy, technology-led transformation and growing customer base across East and Central Africa.
The Group announced a 24 percent year-on-year growth in Profit After Tax to KSh19.1 billion, supported by sustained balance sheet expansion, improved operational efficiency and continued adoption of digital banking channels.
According to the Group’s Q1 2026 performance results released on Tuesday, total assets grew by 16 percent to KSh2.04 trillion, customer deposits increased by 13 percent to KSh1.48 trillion, while net loans expanded 9 percent to KSh873.5 billion.
The lender attributed the performance to continued customer confidence, increasing regional economic activity and the success of its long-term strategy to evolve from a traditional banking institution into a diversified regional financial services group.
Equity Group currently serves 22.7 million customers through an extensive network comprising 409 branches, 86,910 agency outlets and more than 1.4 million merchants across Africa.
Within the Group’s regional operations, Equity Bank Uganda continued to strengthen its position despite what the bank described as a cautious operating environment.
The Ugandan subsidiary recorded 16 percent growth in total assets to KSh131.1 billion, while customer deposits rose 6 percent to KSh96.2 billion. Customer loans also increased by 5 percent to KSh49.6 billion, reflecting continued lending support to households, enterprises and productive sectors of the economy.
Shareholders’ funds at Equity Bank Uganda grew to KSh20.2 billion, further strengthening the bank’s capital base and positioning it for future growth.
The bank also reported improved risk management performance, with IFRS coverage improving to 82 percent, an indicator of stronger provisioning and resilience amid evolving macroeconomic conditions.
Although profitability moderated during the quarter, Equity Bank Uganda maintained a Profit Before Tax position of KSh1.1 billion as it continued investing in digital capability, customer acquisition, service delivery and future growth initiatives.
The Group said the results reflect growing customer trust in the institution and reaffirm Equity Bank Uganda’s role in supporting businesses, expanding financial inclusion and facilitating Uganda’s participation in regional trade and investment flows.
Across the broader Group, regional subsidiaries continued to play an increasingly strategic role in overall performance, contributing 52 percent of total banking assets and 50 percent of banking profitability.
Among the strongest performing subsidiaries were Equity Bank Tanzania, which posted 150 percent growth in profit after tax, Equity Bank Rwanda with 36 percent growth and Equity BCDC in the Democratic Republic of Congo with 32 percent growth.
The Group’s regional subsidiaries collectively contributed 52 percent of assets, 54 percent of the loan book, 51 percent of revenue and half of the Group’s profit before tax.
Equity Group also highlighted significant progress in its digital transformation agenda, noting that 98.3 percent of all transactions are now conducted outside physical branches, while 89.5 percent are processed through digital platforms.
The shift toward digital banking helped improve operational efficiency, with the Group’s cost-to-income ratio declining to 50.6 percent from 54.2 percent during the same period last year.
Return on Assets remained strong at 3.9 percent while Return on Equity stood at 22.6 percent.
Commenting on the results, Dr. James Mwangi said the Group’s performance reflects the success of its long-term transformation strategy.
“Our Q1 performance reflects the success of our deliberate transformation into a diversified, regional, technology-led financial services Group. We are building a future-ready institution; scalable, secure and impact-led,” he said.
Dr. Mwangi added that the Group is positioning itself beyond traditional banking as it works toward its 2030 ambitions.
“As we progress toward our 2030 ambitions, we are evolving beyond traditional banking into a Transformation Finance Institution that mobilizes capital, connects ecosystems and accelerates inclusive prosperity across Africa,” he added.
Beyond financial performance, Equity Bank Uganda continued to deepen its investment in youth empowerment and leadership development through the Equity Leaders Program (ELP).
During the quarter, the bank commissioned the fifth cohort of the programme while also celebrating graduates from the inaugural cohort, part of its broader strategy to nurture future leaders and expand access to opportunities for young Ugandans.
The Group also pointed to Uganda’s improving macroeconomic outlook, citing strengthening private sector credit growth, stable inflation and growing momentum toward the country’s anticipated first oil production expected later in 2026.
