STEADFAST AND RESILIENT: Equity Bank Uganda consolidates position among top 5 banks, despite a one-time provisioning-related loss in 2023 Equity Bank Uganda has just released its annual performance results for 2023 indicating growth across key parameters, further maintaining its position in the top 5 banks category. According to figures, the bank reported an 8% growth in deposits, from UGX2.755 trillion to UGX2.974 trillion- a growth of UGX218.9 billion. This enabled the bank to consolidate its 3rd-place industry position. The bank also registered the 5th largest industry growth in deposits growth, beating Centenary Bank and Stanbic Bank the country’s two largest banks. The bank however reported that customer lending dropped by 1% from UGX1.630 trillion to UGX1.609 trillion as the bank exercised cautious lending and prudent provisioning for some key corporate names.