Equity Group Holdings (EQTY) investor relations material

Executive summary

• Transformation over four years led to a regional financial group with 50% of the balance sheet outside Kenya and strong governance, leadership, and social impact focus.

• Total assets reached KSh 1.80 trillion as of June 30, 2025, with 3% YoY growth and subsidiaries contributing 49% of assets and 48% of PBT.

• Profit after tax for H1 2025 rose 17% YoY to KSh 34.6B, with record quarterly PBT of KSh 22.9B despite challenging macro conditions.

• Diversification into insurance and technology accelerated, with insurance gross written premiums up 115% and technology units growing faster than core banking.

• Multiple awards for brand strength, sustainability, and innovation, including ranking as the 2nd strongest banking brand globally.

Financial highlights

• Net interest income grew 9% YoY to KSh 59.3B, with NIM improving to 8.3%; non-funded income declined 4% to KSh 40.9B.

• Net loans grew by 4% to KSh 825.1B, and customer deposits reached KSh 1.40T.

• Cost-to-income ratio at 51.7%, within guidance; ROAE at 26.1% and ROAA at 3.9%.

• Group NPL ratio increased to 13.7%, above guidance, with gross NPLs at KSh 109.45B.

• Insurance Group PBT up 26% YoY, with gross written premiums up 115%.

Outlook and guidance

• Focus on optimizing the balance sheet by reallocating government securities into higher-yielding loans and targeting double-digit loan growth in H2.

• Continued investment in technology and process digitization to drive efficiency and profitability.

• H1 2025 performance largely in line with FY 2025 guidance for NIM, CIR, ROE, and ROA, but NPL ratio remains above target.

• Ambition to reach 100 million customers by 2030, with a focus on agriculture and manufacturing lending.