Equity takes Uganda branch tally to 50 with Paidha launch

December 13, 2022 in Business, Companies, Financial Services by Editor

Equity Bank Head of Distribution George Kato (left) and Equity Head of Business Kenneth Onyango (centre), welcome Rtd Archbishop Henry Luke Orombi to Equity Bank’s 50th Branch in Paidha.

Regional lender Equity Bank has expanded its Ugandan footprint to 50 branches, after opening a branch in Paidha, West Nile today. Located along the Nebbi-Zombo Road, the new branch will in addition to the full spectrum of banking services, also double as an advisory centre for retail, SME and corporate customers.

Speaking at the opening of the new branch, Equity Bank Uganda Acting Managing Director Anthony Kituuka, said the “expansion will allow us to serve our customers better and to meet their financial needs right at their doorsteps.

Equity Bank Paidha Branch adds to the existing branches in Arua and Adjumani, in the West Nile region, a hub for cross-border business with the Democratic Republic of Congo and South Sudan.

The opening of the new branch reinforces Equity’s promise to offer integrated financial services that socially and economically empower its customers and help in financial deepening and inclusion of the unbanked population in the mainstream banking services.

The bank’s expansion to now 50 branches is supported by a steady growth over the last 14 years becoming the 6th largest bank in Uganda, with a balance sheet of UGX2.818 trillion. It is also the third (3rd) largest bank by lending and fifth (5th) largest by deposits.

Riding on this strong deposit foundation, Equity last year upped its lending by 22.4 percent, from UGX1.261 trillion to UGX1.544 trillion.

The 50 branches are supported by over 7000 Equiduuka agent, over 6000 merchants and 50 ATMs spread across the country serving over 1.5 million customers.