Equity Group Reports Kshs 60.7 Billion  Profits

Equity Group Reports Kshs 60.7 Billion  Profits, Fueling Regional Growth

Equity Group Holdings Plc posted a Kshs 60.7 billion pre-tax profit for 2024, a 17% increase from 2023.

Profits after tax rose by 12% to Kshs 48.8 billion, reinforcing the Group’s strong financial position.

https://africabusinessnews.co.ke/un-general-assembly-president-visits-equity-to-discuss-youth-innovation-and-tech/

Earnings per share climbed 11% to Kshs 12.3, highlighting sustained shareholder value growth.

The Group proposed a Kshs 4.25 dividend per share, reflecting a 34.5% payout ratio.

Equity Group Reports Kshs 60.7 Billion  Profits, Fueling Regional Growth

Asset quality improved by 100 basis points, strengthening the Group’s risk management framework.

Regional subsidiaries contributed 49% of total assets and 54% of profit before tax.

Strategic Expansion, Digital Growth, and Sustainability Initiatives

Equity expanded its customer base to 21.6 million, with total deposits reaching Kshs 1.4 trillion.

Digital transactions surged, with 86% of operations now processed through digital channels.

The Group’s mobile and online platforms saw a 67% and 21% rise in transaction volumes, respectively.

Insurance operations thrived, with pre-tax profits rising 58% to Kshs 1.5 billion.

The Equity Leaders Program (ELP) supported 113 scholars with full scholarships in top global universities.

Sustainability efforts included planting 35 million trees and disbursing over USD 200 million in climate finance.

CEO Dr. James Mwangi reaffirmed Equity’s https://equitygroupholdings.com/ke/ commitment to financial inclusion, innovation, and regional expansion.