Equity Group’s regional subsidiaries have delivered strong and accelerating performance, underscoring the growing success of the lender’s pan-African expansion strategy and cementing its position as one of the continent’s most diversified banking franchises.
The Group’s operations outside Kenya now contribute 42% of banking profitability and 47% of revenue, alongside 51% of Group deposits, 54% of Group loans and 52% of Group banking assets — figures that highlight how central the regional business has become to the Group’s overall performance.
DRC Leads the Charge
Equity BCDC in the Democratic Republic of Congo emerged as the standout performer among the regional units, posting a 30% rise in Profit After Tax to KSh11.8 billion. The result reaffirms the DRC subsidiary’s position as a key growth engine for the Group, reflecting both the scale of the Congolese market and the strength of Equity’s franchise there since its acquisition of BCDC.
Rwanda and Tanzania Post Solid Gains
Equity Rwanda also delivered a strong showing, growing Profit After Tax by 12% to KSh2.9 billion, continuing its steady contribution to the Group’s East African footprint.
Equity Tanzania was the fastest-growing subsidiary by percentage terms, delivering exceptional performance with an 82% surge in Profit After Tax to KSh2.0 billion — a sign of the accelerating momentum the business has built as it scales up operations in the market.
A Testament to Regional Diversification
Taken together, the results point to a Group whose fortunes are increasingly shaped beyond its home market. With regional subsidiaries now accounting for close to half of the Group’s revenue and profitability, and more than half of its deposits, loans and assets, Equity’s expansion into markets such as the DRC, Rwanda and Tanzania appears to be delivering the diversification and growth dividends the Group has long targeted.
Analysts will be watching whether this momentum can be sustained as the subsidiaries mature further and continue to scale within their respective markets.
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