Equity Bank Managing Director Anthony Kituuka Resigns

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Equity Bank Uganda Limited has confirmed the resignation of Mr. Anthony Kituuka as Managing Director, effective November 28, 2024. He will serve the three-month notice and officially leave the institution in March 2025.

In a press release dated November 30, copy of which Uncovered Ug has seen, Equity Bank revealed that Kituuka’s resignation was formally accepted by the bank’s board of directors, and they have initiated the process to find a suitable successor as he serves a notice period to facilitate a seamless transition of leadership.

Mr. Kituuka, a prominent figure in Equity Bank’s success, joined the institution in 2014 as Executive Director and later ascended to the role of Managing Director in November 2022.

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During his tenure, Mr. Kituuka oversaw substantial growth, positioning Equity Bank Uganda as a leader in the financial sector.

Equity Bank Uganda, which serves over 2.2 million customers, has accumulated customer deposits amounting to nearly UGX 3 trillion, yet the institution’s loan book currently stands close to UGX 1.7 trillion and its total balance sheet is an impressive UGX 3.5 trillion.

In his statement, Mr. Kituuka expressed his gratitude for the time he spent at the helm of the bank. “I am proud of the time that I have served in equity. I want to thank the Board for their leadership, the staff, and all our stakeholders for their support and wish them well as they pursue greater impact in line with the Africa Recovery and Resilience Plan, which targets 100 million customers by 2030,” he said.

Mr. Mark Ocitti, Chairman of Equity Bank Uganda’s Board, conveyed the board’s gratitude for Mr. Kituuka’s contributions, saying, “We are grateful to Mr. Kituuka for his dedication and trust in the brand,” Mr. Ocitti said.

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