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Advertisement Equity Group Posts Strong Q1 Growth as Digital Transformation Gains MomentumEquity Group Holdings has reported strong first quarter results for 2026, signaling continued momentum in its transformation into a technology-led pan-African financial services group.The Group posted a 24 percent rise in Profit After Tax to KSh 19.1 billion, supported by improved balance sheet quality, digital transformation, and growing contributions from regional subsidiaries.Additionally, Equity Groups balance sheet expanded by 16 percent to KSh 2.04 trillion. Customer deposits also grew by 13 percent, while net loans increased by 9 percent, reflecting sustained customer confidence and economic activity across its markets.The Group now serves 22.7 million customers across the region through an extensive network of 86,910 agency outlets and 1.4 million merchants.Speaking on the results, James Mwangi said the performance reflects years of deliberate transformation focused on resilience, diversification, and technology.Our Q1 performance reflects the success of our deliberate transformation into a diversified, regional, technology-led financial services Group, he said.Equity Group Posts Strong Q1 Growth as Digital Transformation Gains MomentumDigital Banking Driving GrowthEquity Group continues to deepen its digital transformation strategy as customer behaviour shifts rapidly toward digital channels.According to the Group, 98.3 percent of all transactions now happen outside branches, while 89.5 percent are processed through digital platforms.Furthermore, the bank continues to invest heavily in digital infrastructure, AI-enabled systems, and staff upskilling programmes aimed at building a future-ready institution.The Group revealed that 80 percent of its staff have already completed business-focused generative AI training, accounting for more than 20,000 hours of instruction.Additionally, partnerships with initiatives such as iamtheCODE and Huawei ICT Academy continue to strengthen digital and AI capabilities across the organization.Operational efficiency also improved significantly. The cost-to-income ratio declined to 50.6 percent from 54.2 percent due to productivity gains, shared services, and increased digital adoption.Regional Subsidiaries Strengthen Pan-African GrowthRegional subsidiaries continued to play a bigger role in the Groups overall performance.Today, regional operations contribute 50 percent of Group banking profitability and 52 percent of total banking assets.Equity Bank Kenya recorded a 21 percent increase in Profit After Tax to KSh 10.3 billion while maintaining strong leadership in MSME lending.The bank disbursed 36.2 percent of the KSh 101 billion MSME loans issued in Kenya between January and March 2026.Meanwhile, EquityBCDC in the Democratic Republic of Congo posted a 32 percent growth in profits to KSh 5 billion.Equity Bank Rwanda also recorded a 36 percent increase in profitability, while Equity Bank Tanzania delivered exceptional growth of 150 percent.The insurance business also continued to expand rapidly. Gross written premiums rose by 30 percent to KSh 4.5 billion, while profit before tax increased by 53 percent.Equity Group Foundation Expands Social ImpactBeyond financial performance, the Equity Group Foundation continued to scale its social impact programmes across Africa.The Foundation now supports more than 12,844 active scholars and has facilitated international university opportunities valued at over USD 18.6 million.Additionally, the Foundation has trained over one million entrepreneurs and facilitated more than KSh 416 billion in credit access for MSMEs.In healthcare, Equity Afya has expanded to 154 medical centres serving more than 4.9 million patient visits.The Foundation also continues to invest heavily in climate action and technology training. So far, it has supported the planting of over 45.5 million trees and trained 600,000 youth in AI, machine learning, and data analytics.Preparing for the Next Growth PhaseLooking ahead, Equity Group says it remains focused on its 2030 strategy under the Africa Recovery and Resilience Plan.The strategy targets expansion into 15 countries, growth to 100 million customers, and deployment of next-generation digital and AI-enabled systems across Africa.Ultimately, the Group says its long-term focus remains on building an inclusive, resilient, and technology-driven financial ecosystem that supports sustainable growth across the continent.The post Equity Group Posts Strong Q1 Growth as Digital Transformation Gains Momentum appeared first on Africa Business News.

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