- Dr. Mwangi asked customers not to tempt bank workers with bribes or favors.
- The bank plans to roll out a toll-free number for reporting misconduct or poor service.
- Equity made Ksh.15.4 billion in profit after tax, a slight drop due to South Sudan challenges.
- South Sudan’s currency drop and oil issues affected the bank’s income.
- Kenyan operations led the group in deposit and loan growth.
- NPLs remain high at 19%, mostly from MSMEs and corporate clients.
Equity Group CEO Dr. James Mwangi has sent a clear message to customers—stop offering bribes or favours to employees. Speaking on Citizen TV during the release of the bank’s Q1 results, he said such behavior puts staff at risk of losing their jobs.
“We don’t tolerate any staff who is compromised,” he stated.
Dr. Mwangi added that Equity is about to launch a free customer hotline where people can report poor treatment or wrong behavior from staff.
Profit Slips Slightly as South Sudan Drags
Despite job cuts and external pressures, Equity Bank still managed to post Ksh.15.4 billion profit after tax for the first quarter of 2025. This is a 4% drop compared to last year.
Dr. Mwangi explained the dip was caused by instability in South Sudan, especially the currency depreciation and oil export issues. South Sudan had contributed Ksh.3 billion in inflation-adjusted profit last year, which is now missing.
Back home, things looked better. The Kenyan division led in performance, accounting for more than half of the growth in deposits, loan book, and income. Deposits rose by 7% to Ksh.1.32 trillion, while total loans increased by 3% to Ksh.804.7 billion.
Still, non-performing loans are a big concern. The NPL ratio stands at 19%, mostly due to problems in corporate and MSME loan repayments. Mwangi noted that while legal processes are slow, court wins are helping recover some of the stuck cash.
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