Kenya’s banks reported strong first-half results for 2026, with most lenders posting double-digit profit growth. Equity Group led with a 32% pre-tax profit increase to Sh45.5 billion, driven by a 39% rise in profit before tax to Sh57.8 billion on total income of Sh124.9 billion.
KCB followed with a 14% net profit increase to Sh36.9 billion, while pre-tax profit rose 20.8% to Sh49.3 billion. Co-op Bank, Family Bank, and DTB also posted strong numbers, with growth of 28%, 62%, and 34% respectively. However, Absa and StanChart Kenya bucked the trend with declines of 9.8% and 17%.
Kenyan lenders are increasingly focused on expanding their reach beyond the country’s borders. Equity’s international branches now hold 51% of total group deposits, 54% of outstanding loans, and 52% of the group’s banking assets across DRC, Uganda, Tanzania, Rwanda, and South Sudan.
At KCB, regional units contributed 27.7% of pre-tax profit and 31.1% of the balance sheet across Rwanda, DRC, Uganda, Tanzania, Burundi, and South Sudan. NCBA’s East African subsidiaries posted combined profits of Sh1.6 billion, a fraction of the group’s Sh12.4 billion total.
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Tanzania’s banking sector is rapidly expanding, reshaping regional rankings. In 2025, Tanzanian banks recorded net profits of roughly TZS 2.47 trillion ($950 million), a 14.7% increase, following a 40.9% jump in 2024.
This upward trajectory is linked to increased investment in infrastructure such as the SGR, ports, and energy. Stock market valuations demonstrate this expansion: CRDB’s market cap increased from $762 million to $2.7 billion in one year, and NMB’s rose from $1.1 billion to $2.7 billion during the same period.
The comparison isn’t just about growth rates, several Kenyan banks matched or beat CRDB’s 20% pace, but about compounding growth from a stronger base. Tanzanian banks are growing from a smaller balance sheet with fewer legacy NPL burdens.
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