Equity Bank Statement on Posting Ksh. 15.4 Billion Profit After Tax In Q1 2025

1. Revenue Performance - Group

In Q1 2025, Equity Group’s total income declined by 4% to KES 48.2 billion from KES 50.1 billion in Q1 2024. This decrease was mainly due to a 12% drop in non-funded income, which fell from KES 22.3 billion to KES 19.6 billion. Interest income also declined by 3% to KES 41.9 billion. However, interest expenses dropped by 12%, leading to a 3% increase in net interest income to KES 28.6 billion. On a constant currency basis, total income rose by 7% and net interest income increased by 10%, indicating that currency movements had a significant impact on the reported figures.

2. Group Cost Structure - Group

Total costs slightly decreased by 1%, from KES 29.7 billion in Q1 2024 to KES 29.5 billion in Q1 2025. Loan loss provisions dropped significantly by 44%, from KES 6.1 billion to KES 3.4 billion. In contrast, staff costs increased by 11% and other operating expenses also rose by 11%. Under constant currency conditions, total costs increased by 13%, driven mainly by a 33% rise in other operating expenses and a 20% increase in staff costs.

3. Group Profitability - Group

Profit before tax (PBT) declined by 8%, from KES 20.4 billion to KES 18.7 billion. Tax expenses fell by 24%, from KES 4.4 billion to KES 3.3 billion. As a result, profit after tax (PAT) declined by 4%, from KES 16.0 billion to KES 15.4 billion. In constant currency, PBT was down by 1%, and PAT increased by 3%.

4. Equity Bank South Sudan Impact on Earnings  - Group

When excluding the contribution from Equity Bank South Sudan Limited (EBSSL), the Group’s PBT increased by 8%, from KES 17.3 billion in Q1 2024 to KES 18.8 billion in Q1 2025. With EBSSL included, PBT declined by 8%, indicating that EBSSL had a negative effect on overall performance during the period.

The above financial results are for Equity Group which includes (Kenya, Democratic Republic of the Congo, Uganda, Tanzania, Rwanda and South Sudan).

Results for Kenya only are as follows

1. Revenue - For Kenya Only

Total Revenue increased by 19%, from 20.1B (Q1 2024) to 23.9B (Q1 2025).

Non-Funded Income grew from 6.2B to 7.5B, a 21% increase.

Net Interest Income increased from 13.9B to 16.3B, representing 69% (Q1 2024) and 68% (Q1 2025) of total revenue.

2. Profit Before Tax - for Kenya O Only

Rose by 50%, from 6.6B (Q1 2024) to 9.9B (Q1 2025), indicating strong performance.

We have attached below a PDF of the full Equity Group Holdings PLC Q1 2025 Financial results.