By Leonard Kamugisha Akida,
KAMPALA
Equity Bank Uganda has announced the resignation of their Managing Director, Anthony Kituuka, after serving as the bank’s MD for two years. The resignation according to reports was mutually agreed upon between the bank and Kituuka.
In a statement seen by Parrots Media, the bank’s Board of Directors accepted Kituuka’s resignation on November 28.
According to the Bank, Kituuka will serve a notice period to ensure a smooth transition and search for his successor.
It should be recalled that Kituuka was named the managing director of Equity Bank Uganda Limited in November 2022, and had by resignation time served for only two years. He joined the bank in 2014, and has had previously served as Executive Director from 2016 before taking over as Managing Director in 2022.
Some of the significant milestones achieved during his time include growing the bank’s customer base to 2.2 million and amassing customer deposits nearing Shs3 trillion.
Equity Bank Uganda’s loan book is valued at Shs1.7 trillion, while its total assets stand at approximately Shs3.5 trillion.
With nearly 9,000 Equi-duuka agents and 50 branches situated in different parts of the country, Equity Bank is among top 5 banks that have established reputable brands and its highly recognized as one of the domestic systematically important banks in Uganda’s banking sector.
Owned by Equity Group Holdings Plc, Equity Bank is a leading Pan-African financial services company listed on multiple stock exchanges.
The group operates in several countries, including Kenya, Rwanda, Tanzania, South Sudan, and the Democratic Republic of Congo, with a commercial office in Ethiopia.
With a market capitalization of USD1.4 billion and an asset base of USD14 billion, Equity Group supports over 22 million customers through a vast network of branches, agents, and digital platforms.
In 2024, Equity Group was named the second strongest financial brand globally by Brand Finance and recognized as the strongest financial brand in Africa by Brand Africa.
In a resignation letter, Kituuka expressed gratitude to the board, staff, and stakeholders and reminded them of the bank’s vision to impact more lives through the Africa Recovery Resilience Plan.
“I am proud of the time I have served in Equity. I want to thank the Board for their leadership, the staff, and all our stakeholders for their support. I wish them well as they pursue the Africa Recovery and Resilience Plan, which aims to impact 100 million customers by 2030.” he said.
On the other hand, Mark Ocitti, chairman of the Board of Directors of Equity Bank Uganda admitted to approving Kituuka’s resignation, and commended him for the services rendered to the institution all the years.
“We are grateful to Mr. Kituuka for his trust in the brand and his years of service. We wish him all the best as he embarks on new opportunities,” Ocitti said.
Although, the bank did not disclose the official dates when Kituuka will officially handover the office, some reports allege that he will be officially handing over in March 1, next year, as he heads for more greener pastures.
