Equity Group Crosses KSh 2 Trillion in Assets as Banks Surge in Q1

Kenya's commercial banking sector delivered a powerful first-quarter performance in 2026, led by Equity Group Holdings, which posted a 24% surge in net profit to KSh 19.1 billion for the three months ending March 2026. The results marked a historic milestone for the lender, which simultaneously crossed the KSh 2 trillion total-assets threshold — cementing its position as one of East Africa's largest banks by balance-sheet size.

Equity Group's Landmark Quarter

Equity Group's KSh 19.1 billion Q1 profit represents a 24% increase over the same period in 2025, outpacing many analysts' expectations and providing early confirmation that the positive earnings trajectory evident throughout 2025 had carried firmly into the new year. The crossing of the KSh 2 trillion total-assets milestone is particularly significant: it places Equity Group in a select club of African financial institutions with balance sheets of that scale.

KCB Group and NCBA Also Post Robust Results

Equity Group was far from alone in reporting a strong first quarter. KCB Group and NCBA Group both reported robust Q1 2026 earnings that reinforced the sense of a sector firing on multiple cylinders simultaneously. KCB's performance was underpinned by recovering loan demand and improving asset quality. NCBA's results reflected the growing success of its digital banking strategy, including its M-Shwari savings product and the Fuliza overdraft facility.

Banking Rally Propels NSE to Record Highs

The strong Q1 2026 bank earnings were a direct and powerful catalyst for the NSE's Banking Sector Index rally of 25.27% over the first half of the year — the strongest sectoral performance on the entire exchange. For investors who had held banking stocks through the difficult years of 2022 and 2023, the 2026 rally has delivered substantial and well-deserved returns.