Equity Group Holdings (NSE: EQTY) gained fundamental support from the bank’s H1 2026 results, as the stock price hit a record high. Regional profit before tax rose 42% to KSh 26.2 billion, while Kenya remained the largest contributor after posting 35% growth to KSh 29.4 billion.
Meanwhile, the NSE added KSh 1.05 trillion during the first seven months of 2026, according to Soko Analyst. Banks generated 55.38% of turnover in the week ended August 14, placing Equity at the centre of the market rebound.
Regional Growth Changes Equity’s Earnings Mix
For the six months ended June 30, 2026, total assets rose 20% year over year to KSh 2.156 trillion, according to The Kenyan Wall Street. Loans increased 19% to KSh 981 billion, while deposits climbed 21% to KSh 1.589 trillion. The 61.7% loan-to-deposit ratio leaves room for further lending. Securities represented 30% of assets, supporting liquidity.
Regional subsidiaries now account for 52% of banking assets and 54% of loans. Kenya’s net interest margin widened to 8.6% from 7.5%, while return on equity rose to 34.7% from 28.1%. Growth is improving profitability, not just scale. However, DRC’s 37% share of group loans makes weaker returns there a material risk.
Lower NPLs Improve the Equity Bank Stock Outlook
The NPL ratio fell to 9.5% from 13.7% in H1 2025, while corporate NPLs dropped to 12.8% from 24.5%. Lower bad loans should reduce provisioning pressure and support earnings. However, IFRS coverage was 70%, rising to 113% after guarantees, so recoveries remain important.
Insurance PBT rose 34% to KSh 1.25 billion as total income grew 43%. At KSh 90.50, Equity Bank stock traded at about 4.5 times trailing earnings with a 6.4% dividend yield. Foreign investors sold a net KSh 1.17 billion in the week ended August 14 while local investors absorbed the exits and supplied 76.2% of turnover.
The positive results come as the NSE added KSh 1.05 trillion in investor wealth, with banks generating 55.38% of weekly turnover, according to Soko Analyst. Strategic interest is also rising, highlighted by Nedbank’s planned controlling stake in NCBA.
Can Equity Bank Stock Break KSh 93?
EQTY shares remain in a weekly uptrend from KSh 33.70. At KSh 90.50, the price approaches the upper Bollinger Band at KSh 92.09 and the 1.0 Fibonacci resistance at KSh 93.
Weekly RSI stands at 72.66, above the 70 overbought threshold. This confirms demand but raises consolidation risk. A drop below 70 while KSh 93 holds would signal weakening momentum.
A volume-supported weekly close above KSh 93 would turn resistance into support and expose the 1.236 Fibonacci extension at KSh 107. That represents about 18% upside from KSh 90.50.
If the breakout fails, KSh 80.25–80.63 is the first support zone, combining the 0.786 Fibonacci level with the 20-week Bollinger average. The next support is KSh 69.16–70.25, where the lower band meets the 0.618 Fibonacci level. Holding them preserves the uptrend; losing them raises reversal risk.
