Equity Group Bags Over UGX 400 Billion Profit as Digital, Insurance Businesses Strengthen Revenue Mix  

By Mulengera Reporters 

Equity Group has posted over UGX 423 billion in Profit After Tax for quarter one of 2025, with non-banking segments such as insurance, fintech, and investment services playing a growing role in shaping its overall financial health.

The Group’s earnings report shows that while core banking activity remains steady, it is the quieter contributors like the insurance policies, digital transactions, and investment banking revenue that are increasingly supporting the Group’s performance.

The insurance arm, Equity Insurance Holdings, recorded Kshs over UGX 11 billion in profit before tax, a 27% year-on-year increase. Since its launch in 2022, the unit has issued over 15 million policies, most of them digitally.

Plans are underway to expand the offering by securing a health insurance license to complement its life and general coverage, to allow the financial giant to provide a full insurance package, something that aligns with its growing focus on integrated financial services.

Equity also reported significant gains in digital banking. The mobile app and USSD platforms processed UGX 25.9 trillion in customer transactions during the period, up from UGX 19.8 trillion a year earlier.

Merchant payments through the Pay with Equity platform also increased, handling UGX 15.6 trillion across more than 1.1 million merchants.

Altogether, 87% of customer transactions now take place digitally, evidencing a wider shift from traditional branch service to app and mobile-led platforms, and the bank has made significant investments in this area in recent years, modernizing infrastructure and expanding mobile functionality.

Dr. James Mwangi, the Group’s CEO, said the results reflected a strong base for further development. “We continue to build long-term value by diversifying services and deepening customer relationships,” he noted.

Beyond financial services, the Group reported social and environmental contributions under its broader Africa Recovery and Resilience Plan, disbursing UGX 4.6 trillion in social protection cash transfers and UGX 9.7 trillion in MSME lending, and supporting over 29,000 scholars under the Equity Leaders Program.

While traditional banking remains a major part of Equity’s strategy, the Group’s investment in new verticals is gradually changing how it defines its purpose. With fintech, insurance, and social enterprise now in the mix, Equity seems to be building more than just a bank. (For comments on this story, get back to us on 0705579994 [WhatsApp line], 0779411734 & 041 4674611 or email us at mulengeranews@gmail.com).