Equity Bank Rwanda recorded a 36 per cent increase in profit after tax to KSh1.5 billion (approx. Rwf17 billion) in the first quarter of 2026, emerging among the top-performing subsidiaries of Equity Group Holdings in quarterly growth in earnings gains.

The Group posted an overall 24 per cent rise in quarterly profit after tax, to KSh19.1 billion, up from KSh15.4 billion recorded during the same period last year, driven by regional growth, digital banking expansion, and increased lending across key markets.

The regional financial services group said the performance reflects gains from its ongoing transformation into a technology-led and diversified pan-African institution, supported by growth across subsidiaries, improved operational efficiency, and expansion in digital banking services.

Among the Group’s regional subsidiaries, Equity Bank Rwanda posted one of the strongest performances.

It stated that its net loans grew 9 per cent year-on-year, driven mainly by expansion in the Retail, micro, small and medium enterprises (MSME), and public sector institutions (PSI) segments, with the strongest contributions from its Rwanda, Tanzania, and DR Congo subsidiaries.

Rwanda continues to maintain strong economic momentum despite global economic uncertainty -- occasioned by the Middle East conflict disrupting fuel supply -- with the economy growing by 11.2 per cent year-on-year in the fourth quarter of 2025, the Group observe. The country’s growth has largely been supported by services, infrastructure investments, and regional trade.

Role of regional subsidiaries as the Group expands

While Equity Bank Kenya delivered a 21 per cent year-on-year increase in profit after tax to KSh10.3 billion, which is a major share of the total earnings, it observed that its regional subsidiaries now contribute 50 per cent of total banking profitability. They also account for 52 per cent of total banking assets, which the Group described as "a milestone in Equity’s journey to become a continental champion.”

At the Group level, customer deposits grew by 13 per cent, helping expand the balance sheet by 16 per cent to KSh2.04 trillion. The lender attributed this growth to rising customer confidence and increased uptake of digital financial services across its markets.

Digital banking and operational transformation

According to the Group, 98.3 per cent of all customer transactions are now conducted outside bank branches, while 89.5 per cent are processed through digital channels, demonstrating that customers are actively choosing the convenience and reliability of Equity’s digital ecosystem.

Speaking on the results, Equity Group Managing Director and CEO, Dr. James Mwangi, said the performance demonstrates the success of the group’s 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, anchored in digital capabilities, staff upskilling, and a culture of disciplined execution,” he said.

The Group also reported improvements in asset quality, with non-performing loans reducing from 14 per cent to 10 per cent year-on-year, reflecting disciplined collection underwriting, enhanced analytics, and the benefits of a diversified portfolio. Loan loss provisions declined by 18 per cent.

Insurance business gains momentum

Beyond banking, the group’s insurance business also continued its strong momentum. Equity Insurance Group posted a 30 per cent rise in gross written premiums to KSh4.5 billion, while profit before tax increased by 53 per cent to KSh640 million.

Insurance is emerging as a significant third engine of growth, complementing the Group’s banking and payments businesses, it observed.

Equity Group Foundation expands social impact programmes

Meanwhile, the Equity Group Foundation continued expanding its social impact programmes across Africa in education, financial inclusion, agriculture, healthcare, climate action, and technology training.

For instance, across its Education and Leadership Development pillar, EGF now supports over 12,844 active scholars and expanded global university opportunities with 91 new international admissions valued at over $18.6 million. To date, EGF under the Wings to Fly scholarship program and the Elimu Scholarship Program has benefitted 60,009 scholars.

The Equity Leaders Program has also surpassed 10,515 cumulative paid internships, strengthening Africa’s future leadership and workforce pipeline.

Under Enterprise Development and Financial Inclusion, EGF trained over one million entrepreneurs and facilitated more than KSh416 billion in credit access to MSMEs, accelerating entrepreneurship, financial inclusion and job creation across the region.

In Food and Agriculture, the Foundation continued to deepen agricultural commercialisation and climate resilience, including through the $25 million SASTAIN programme in partnership with Mastercard Foundation targeting 60,000 smallholder farmers and agri-MSMEs in Tanzania and DRC.

Focus on long-term expansion strategy

Looking ahead, the Group said it remains focused on its 2030 growth strategy under the Africa Recovery and Resilience Plan, which aims to expand operations to 15 countries, serve 100 million customers, and deepen investments in digital and AI-enabled financial services across Africa.