Equity Group Holdings has made history as the first bank listed on the Nairobi Securities Exchange (NSE) to surpass a market capitalisation of KSh 250 billion. The milestone was achieved on Friday, 31 October, following a remarkable 9.5% share price rally over two days spurred by record-breaking Q3 2025 financial results.
The lender’s stock jumped from KSh 60.50 at Wednesday’s close to KSh 66.25 by Friday, driven by high investor demand and minimal selling at elevated price levels.
The results, released on Thursday, revealed a Q3 2025 profit after tax of KSh 54.1 billion, exceeding its entire 2024 full-year profit of KSh 48.8 billion. The strong performance was underpinned by growth in net interest income, fee-based revenue, and strict cost management across its regional units. Credit quality remained stable.
Listed on the NSE in 2006, Equity has had a history of rewarding shareholders, including a 2-for-1 bonus issue in 2007 and a 10-for-1 share split in 2009, meaning one original share at listing now equals 30 shares.
Group CEO Dr James Mwangi, during the Q3 investor briefing, credited the achievement to the brand’s enduring value rather than mere balance sheet size.
“The market has been kind to us. This is about brand value, not balance sheet size. People buy into the brand before they buy the product,” he said.
Equity Group Market Value Growth (2006-2025)
Consistent Shareholder Value Creation
Between 2007 and 2025, Equity has paid KSh 39.50 per current share in dividends. For an investor who has held their shares continuously since listing, this translates to KSh 1,185 in total dividends per original share position (KSh 39.50 × 30 shares).
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At the current share price of KSh 66.25, the market value of that original share position now stands at KSh 1,987.50. When combined with the KSh 1,185 already earned in dividends, the total value created per original share equals approximately KSh 3,172.50, excluding reinvested dividends.
Banking Sector Performance – 2025 YTD Overview
| Bank | Price (KSh) | Market Cap (KSh B) | YTD Return (2025) |
|---|---|---|---|
| Equity Group (EQTY) | 66.25 | 250.0 | 37.2% |
| KCB Group (KCB) | 61.50 | 197.6 | 47.8% |
| NCBA Group (NCBA) | 88.00 | 145.0 | 82.6% |
| Co-operative Bank (COOP) | 21.10 | 123.8 | 28.3% |
| Absa Bank Kenya (ABSA) | 23.00 | 124.9 | 27.4% |
| Standard Chartered (SCBK) | 303.00 | 114.5 | 8.3% |
| Stanbic Holdings (SBIC) | 196.00 | 77.5 | 42.8% |
| I&M Group (IMH) | 43.90 | 72.6 | 21.1% |
| Diamond Trust Bank (DTK) | 105.00 | 29.4 | 52.2% |
| HF Group (HFCK) | 10.65 | 20.1 | 136.1% |
While Equity now leads the NSE banking sector in total market capitalisation, its 37.2% year-to-date gain ranks mid-range among peers. HF Group remains the year’s top performer with a 136.1% rally, followed by NCBA at 82.6%, underscoring a broader sectoral rebound across Kenyan banking stocks.
