Equity Bank (Uganda)
|Key people||David Ansell
|Products||Loans, checking, savings, investments|
|Revenue||Aftertax: US$2.66 million (UGX:6.6 billion) (2013)|
|Total assets||US$146.3 million (UGX:370 billion) (2013)|
The bank provides banking services to individuals and to small and medium business enterprises. As of December 2013[update], the bank was the 14th largest commercial bank in Uganda with an estimated asset valuation of approximately US$146.3 million (UGX:370 billion), or approximately 2% of all bank assets in the country, at that time.
Equity Bank (Uganda) was created in 2008 when the Equity Bank Group purchased Uganda Microfinance Limited, a Tier II, Ugandan microfinance company for an all-share price valued at US$27 million. Equity Bank (Uganda) launched under its new brand on March 30, 2009. As of December 2011, Equity Bank (Uganda) had a customer base of approximately 500,000 and employed over 550 people.
Equity Bank Group
Equity Bank (Uganda) is a member of the Equity Bank Group. As of March 2014[update], Equity Bank Group had an asset base valued at over US$3.45 billion (KES:295 billion), with a total customer base in excess of 8.7 million, in the region. The stock of the Equity Bank Group is listed on the Nairobi Stock Exchange (NSE), where it trades under the symbol EQTY. It is also cross-listed on the Uganda Securities Exchange (USE), under the symbol: EBL. Members of the Equity Bank Group include the following companies:
- Equity Bank - Nairobi, Kenya
- Equity Bank (Rwanda) - Kigali, Rwanda
- Equity Bank (South Sudan) - Juba, South Sudan
- Equity Bank (Tanzania) - Dar es Salaam, Tanzania
- Equity Bank (Uganda) - Kampala, Uganda
- Equity Consulting Group Limited - Nairobi, Kenya
- Equity Nominees Limited - Nairobi, Kenya
- Finserve Africa Limited - Nairobi, Kenya
- Equity Group Foundation - Nairobi, Kenya
In addition to the above subsidiaries, Equity Bank Group has investments in the following companies:
- Housing Finance Company Limited - Nairobi, Kenya - A mortgage company: Equity Bank Group owns 25%
- Equity Investment Bank - Nairobi, Kenya: Equity Bank Group has 100% shareholding
- Equity Insurance Company - Nairobi, Kenya: Equity Bank Group has 100% shareholding
Equity Bank (Uganda) is a subsidiary of the Equity Bank Group. The Ugandan subsidiary owns 11,333,333 ordinary shares of the parent company based in Nairobi, Kenya. Equity Bank Group is a large Kenyan financial services conglomerate, with total assets of nearly US$3.5 billion.