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Two years after he took over the management of Equity Bank in Uganda, Anthony Kituuka has resigned, the CEO East Africa Magazine can exclusively reveal.
According to an internal memo that CEO East Africa Magazine has seen, Anthony will leave the Bank on 1st March 2025.
“I wish to inform you that Anthony Kituuka has tendered his resignation from his role as Managing Director, Equity Bank Uganda Limited, in order to pursue other opportunities outside the organization. The Board of Directors of Equity Bank Uganda Limited accepted Anthony’s resignation on 28th November 2024 and have subsequently informed the Bank of Uganda of his departure from the bank with effect from 1st March 2025, after an illustrious career in Equity,” Mark Ocitti, the Bank’s Board Chairman wrote in the memo.
“Anthony’s years of service in Equity personify alignment with the Bank’s core values and culture of passion, dedication, integrity, commitment and trust in the brand,” Ocitti wrote.
He joined Equity Group in 2014 in the position of Director, Regional Subsidiaries at the Head office in Nairobi, Kenya reporting directly to the Group CEO – Dr. James Mwangi.
In 2016, he returned to Uganda and was appointed as the Executive Director of Equity Bank Uganda Limited. In December 2022, he was promoted to the role of Managing Director of the Bank.
In the time Anthony has been at the bank’s helm, including the time he has been Executive Director and Managing Director, Equity Bank’s customers grew from 390,000 to nearly 2.2 million today, served in 50 branches.
Customer deposits have improved from UGX 480 billion in 2016 to nearly UGX 3 trillion and the loan book has grown from UGX 246 billion to close to UGX 1.7 trillion. The bank’s balance sheet has grown from UGX 622 bn to about UGX 3.5 trillion with an over-tenfold improvement in profitability improvement from UGX 8.5 bn in 2015.
“Equity Bank is the industry leader in agency banking and one of the leading banks in digital banking. It is a top 5 bank in many parameters and is a Domestic Systemically Important Bank. The Equity brand is a widely recognised and respected one in the industry. Join me in thanking Anthony for executing his duties with dedication and commitment to Equity for the last 10 years. He has exemplified passion, leadership and resilience in carrying out his work and living our corporate values,” the statement read.
This is a breaking news story, more will be provided as soon as the details are available.