Samuel Kirubi, the outgoing Managing Director of Equity Bank Uganda, has been promoted to the position of Group Group Chief Operating Officer (GCOO). He has been replaced by Anthony Kituuka, previously the Executive Director at the bank. In a statement this morning, Equity Group said that, Samuel, had in his seven years of duty in Uganda, turned around the entity from No 16 to the 5th most profitable bank in Uganda and the 6th largest bank in deposits and assets. “Samuel will oversee the enhancement of the Group’s capacity to deliver on its strategy by aligning people, processes, systems, commercial…
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Anthony Kituuka, 47, has been appointed the Managing Director, of Equity Bank Uganda, pending approval by the Bank of Uganda, the financial services regulator. An aggressively passionate and hands-on banker, Kituuka has been the Executive Director, at the bank since April 2016. In that role, he has effectively been the bank’s No.2 and a core part of the bank’s leadership team. He has also been sitting on the bank’s board. CEO East Africa Magazine, understand Samuel Kirubi, the outgoing Managing Director has been recalled to Group, to take up a Group Chief Operating Officer role at Equity Group Holdings Limited….
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As one of the strategies to further improve customer experience and deliver services to its customers conveniently, Equity bank has launched a high-tech contact centre. The new Contact Centre will allow the Bank to deliver improved support conveniently to the nearly 1.6 million customers 24/7. Customers will be able to interact with highly trained customer relationship officers using state-of-the-art technology to document, categorise and resolve their issues. The contact center has a capacity to accommodate 70 customer relationship officers and shall handle all customer queries, and complaints in the 5 languages widely spoken across Uganda. The languages are English, Luganda, Runyakitara,…
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Households, Educational institutions and Commercial enterprises are set to benefit from a new clean energy financing product from Equity Bank Uganda that will enable them acquire clean energy technologies for lighting, cooking, and practicing climate smart agriculture. The affordable financing facility – Equi Green loan with support from the Uganda Energy Credit Capitalization Company (UECCC), was launched on Wednesday in Kiboga district with the goal of enabling poor and middle-income households to access clean energy for lighting, cooking and practicing climate smart agriculture. Equity customers can buy improved cook stoves, solar lighting systems, biomass systems, irrigation systems and water storage…
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On Monday, April 25th, 2022, Equity Bank Uganda, a subsidiary of Equity Group Holdings Plc, published its financials for 2021. Well, the publishing of financial performance is a regulatory requirement for all supervised financial institutions- and it must happen before the end of April, of every year, so towards the end of the month, there is often a rush to beat the deadline, so it is sometimes easy to miss some incredible stories. One such beautiful story is the story of Equity Bank Uganda. The bank reported that in 2021, customer deposits- perhaps the most important indicator of bank performance,…
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2021 was yet another good year for Equity Bank in Uganda. All the key fundamentals posted strong double-digit growth. What are some of the key highlights in your performance that do stand out for the bank? 2021 was a tough year for the bank and the industry. Although the bank recorded double-digit growth rates across various parameters, it wasn’t an easy year, as the actual effects of COVID-19, fully manifested in 2021. But also, it was a year for us to test the vision and the purpose of the bank. As a bank, we adhered to our vision— championing the…
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Equity Bank has unveiled EazzyFX, an innovative electronic channel that allows customers particularly Small and Medium Enterprises (SMEs) and corporates to settle forex transactions and enjoy a seamless experience as they deal in foreign currency based on the day’s streaming rates. Additionally, EazzyFX enables customers to request for competitive quotes and prices for both the emerging market and the major traded currencies as well as enjoy real-time streaming access, have the ability to place multiple trade orders and get informed insights on the various currencies. Speaking during the launch ceremony yesterday, Equity Bank Uganda Managing Director, Samuel Kirubi noted that…
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Equity Uganda, a wholly owned subsidiary of Equity Group Holdings, has today unveiled a new identity in line with Equity Group Holdings’ ongoing transformation journey. The new identity is aimed at creating a sustainable growth path and service delivery in today’s dynamic financial services environment. From an identity perspective, the new logo now features “Equity” without an entity name such as Bank to signify a one-stop-shop and a consolidated business model for its inclusive range of financial services. Commenting on the launch of the new identity, Managing Director Equity Uganda, Samuel Kirubi said that the new look is symbolic of…
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The total assets of Uganda’s financial services industry reached UGX.45.81 trillion, or 44.3 percent of Uganda’s GDP, as at end December 2018. The banking sector, dominated 69% of these assets, followed by Pension Funds at 22%, then Funds under Management (6%) and lastly the insurance sector at 3%, according to Bank of Uganda’s Financial Stability Report, June 2019. According to the report, as at end June 2019, the banking sector, continued to flourish with commercial banks accounting for 95.2 percent (UGX30.3 trillion) of the banking sector’s total assets of UGX.31.8 trillion. This was followed by the Microfinance Deposit-taking Institutions (MDIs)…
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Two major mergers and acquisitions in the Ugandan financial sector made headlines in 2008. One was the $25.3 million acquisition of Uganda Microfinance Limited (UML) by Kenya’s Equity Bank and the other was the acquisition and rebranding of Commercial Micro Finance Ltd (CMF), at an undisclosed sum, by Global Trust Bank, a newly licensed bank in Uganda, majority owned by Nigeria’s largest insurance company- Industrial and General Insurance (IGI) Plc. The two microfinance institutions were at the time largest privately owned Tier II financial institutions. CMF had assets valued at UGX33.2 billion and UGX20 billion in deposits as at end…
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