Equity Bank (Uganda)

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Equity Bank (Uganda)
Type Private
Industry Financial Services
Founded 2008
Headquarters Kampala, Uganda
Key people David Ansell
Chairman
Francis Mills-Robertson
Managing Director[1]
Products Loans, checking, savings, investments
Revenue IncreaseAftertax: US$2.66 million (UGX:6.6 billion) (2013)[2]
Total assets US$146.3 million (UGX:370 billion) (2013)
Employees 550+ (2011)
Website Homepage

Equity Bank (Uganda) is a commercial bank in Uganda.

Overview[edit]

The bank provides banking services to individuals and to small and medium business enterprises. As of December 2013, 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.[3]

History[edit]

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.[4] Equity Bank (Uganda) launched under its new brand on March 30, 2009.[5] As of December 2011, Equity Bank (Uganda) had a customer base of approximately 500,000 and employed over 550 people.

Equity Bank Group[edit]

Equity Bank (Uganda) is a member of the Equity Bank Group. As of March 2014, 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.[6] 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.[7] Members of the Equity Bank Group include the following companies:

  1. Equity Bank - Nairobi, Kenya Kenya
  2. Equity Bank (Rwanda) - Kigali, Rwanda Rwanda
  3. Equity Bank (South Sudan) - Juba, South Sudan South Sudan
  4. Equity Bank (Tanzania) - Dar es Salaam, Tanzania Tanzania
  5. Equity Bank (Uganda) - Kampala, Uganda Uganda
  6. Equity Consulting Group Limited - Nairobi, Kenya Kenya
  7. Equity Nominees Limited - Nairobi, Kenya Kenya
  8. Finserve Africa Limited - Nairobi, Kenya Kenya
  9. Equity Group Foundation - Nairobi, Kenya Kenya

Other subsidiaries[edit]

In addition to the above subsidiaries, Equity Bank Group has investments in the following companies:[8]

  • Housing Finance Company Limited - Nairobi, Kenya - A mortgage company: Equity Bank Group owns 25%[9]
  • Equity Investment Bank - Nairobi, Kenya: Equity Bank Group has 100% shareholding
  • Equity Insurance Company - Nairobi, Kenya: Equity Bank Group has 100% shareholding

Ownership[edit]

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.

Equity Bank (Uganda) Stock Ownership
Rank Name of Owner Percentage Ownership
1 Equity Bank Group 98.8
2 Others 1.2
Total 100.00

Branch network[edit]

Equity Bank (Uganda) has its headquarters in Uganda's capital city, Kampala. Its branch network is the fourth-largest in Uganda, after Stanbic Bank Uganda with 91 branches, Centenary Bank with 46 and Barclays Bank with 44.[10] As of April 2014, the bank maintains networked branches at the following locations:[11]

  1. Head Office - Plot 390 Muteesa 1 Road, Kampala
  2. Adjumani Branch - Adjumani
  3. Arua Park Branch - Arua Park, Kampala
  4. Bombo Branch - Bombo, Luweero District
  5. Busia Branch - Busia
  6. Bwera Branch - Bwera, Kasese District
  7. Hoima Branch - Hoima
  8. Jinja Branch - Jinja
  9. Jinja Road Branch - Jinja Road, Kampala
  10. Kabalagala Branch - Kabalagala, Kampala
  11. Kabale Branch - Kabale
  12. Kajjansi Branch - Kajjansi, Wakiso District
  13. Kalerwe Branch - Kaleerwe, Kampala
  14. Kasangati Branch - Kasangati, Wakiso District
  15. Katwe Branch - Katwe, Kampala
  16. Kawempe Branch - Kawempe, Kampala
  17. Kayunga Branch - Kayunga
  18. Kiboga Branch - Kiboga
  19. Kisoro Branch - Bunagana Road, Kisoro
  20. Kyengera Branch - Kyengera, Wakiso District
  21. Lira Branch - Soroti Road, Lira
  22. Luweero Branch - Gulu Highway, Luweero
  23. Lyantonde Branch - Lyantonde
  24. Market Street Branch - Market Street, Kampala
  25. Masindi Branch - Town Street, Masindi
  26. Mbale Branch - Mbale
  27. Mbarara Branch - Mbarara
  28. Mityana Branch - Mityana
  29. Mubende Branch - Mubende
  30. Nakulabye Branch - Makerere Hill Road, Naakulabye
  31. New Taxi Park Branch - New Taxi Park, Kampala
  32. Ndeeba Branch - Ndeeba, Kampala
  33. Oasis Mall Branch - Oasis Mall, Kampala
  34. Ovino Branch - Nakivubo Place, Kampala
  35. Rushere Branch - Rushere, Kiruhura District
  36. Tororo Branch - Tororo
  37. Venus Plaza Branch - Venus Plaza, 14-18 Nakivubo Place, Kampala
  38. Wandegeya Branch - Wandegeya, Kampala
  39. William Street Branch - William Street, Kampala

See also[edit]

External links[edit]

References[edit]

  1. ^ "The Board of Directors At Equity Bank Uganda". Equity Bank Uganda. Retrieved 25 April 2014. 
  2. ^ Kulabako, Faridah (24 April 2014). "More Local Banks Record Profits Despite Increase In Bad Loans". Daily Monitor. Retrieved 24 April 2014. 
  3. ^ ., . (13 June 2014). "Banking: East versus West Africa". TheAfricaReport.com. Retrieved 14 June 2014. 
  4. ^ Nyambura-Mwaura, Helen (18 April 2008). "Kenya's Equity Bank To Buy Uganda Microfinance". Reuters. Retrieved 25 April 2014. 
  5. ^ Nicoline, van Slingelandt (7 April 2009). "FMO Client Equity Bank Kenya Launches Banking Operations In Uganda". FMO. Retrieved 25 April 2014. 
  6. ^ Kangethe, Kennedy (17 April 2014). "Equity Group In 20 Percent Profit Rise to Sh3.8 Billion". Capital FM Online (Nairobi) via AllAfrica.com. Retrieved 17 April 2014. 
  7. ^ "Equity Bank Group Page At USE Website". Uganda Securities Exchange. Retrieved 25 April 2014. 
  8. ^ Newvision, Archive (28 May 2009). "Equity Bank Group To Grow 40% In 2009". New Vision. Retrieved 25 April 2014. 
  9. ^ "History of Housing Finance Company of Kenya". Housing Finance Company of Kenya. Retrieved 25 April 2014. 
  10. ^ Numbers of Ugandan Bank Branches
  11. ^ "Branches of Equity Bank Uganda". Equity Bank (Uganda). Retrieved 25 April 2014.