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Equity Bank on mortgage

New Equity Bank boss takes trip down to where it all begun

Long path

In establishing Equity Building Society in 1984, in a structure at the centre of town where a white rectangular sign hung above a glass door, Peter Munga set on the path to founding Equity Bank.

Yet 35 years later, the roof, now with a golden brown layer of rust, is still the same.

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To get a feel of the history that Equity Bank carries, Munga last week took Ansell for an orientation on the origins of the bank in Murang’a County.

Ansell is taking over as Equity Bank Group Chairman from retiring Munga.

For Munga, the beginning is as important as the destination. Thus, the former chairman took his successor down memory lane, to the town where the bank started.

Equity Bank Moves to New Church House

Speaking during the unveiling of the new head office, Equity Bank Managing Director, Mr. Samuel Kirubi said; “The move symbolizes our determination to continuously improve our offering to our people, by ensuring our products and services are accessible and convenient to them. In Church House, we shall be more accessible because we are now located in the Central Business District.”

The move to the new premises comes as the Bank marks its 10 years of operation in Uganda, since its launch in 2008. Previously, Equity Bank was headquartered in Katwe.

Presiding on the same event, the Deputy Governor of Bank of Uganda Louis Kasekende said the bank has been known for reaching out on a cost effective manner.

“Equity bank is a profitable institution which has tried to innovate and do a lot of things to reduce costs in a small space of time,” he said before thanking the company leaders for setting good examples.

Equity Bank is one of the fastest growing banks in Uganda, with a large network of 33 branches, 971 Agents (Equi Duuka), 945 Pos Terminals supporting merchant banking. It has a total asset base of Shs 1.03 Trillion making it the eighth largest bank in the country by asset size.

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http://en.wikipedia.