IS OUR KA-MONEY SAFE? Equity Bank Uganda MD Anthony Kituuka Resignation Leaves Some Customers Worried About Their Money

Equity Bank Uganda MD Anthony Kituuka resignation has left some customers worried on how safe their savings are. On November 30, 2024, Equity Bank Uganda confirmed that its MD Anthony Kituuka was leaving the top most position at the financial institution owned by Equity Group Holdings.

Kituuka’s resignation from Equity Bank Uganda Limited (EBUL) took effect on November 28, 2024. A statement from the bank said the Board of Directors had accepted Kituuka’s decision to leave but added that he will “serve notice period to allow the Board adequate time to hire his successor.”

Equity Bank did not state the reasons Anthony Kituuka gave for his resignation. Certainly, Kituuka explained his decision to the board.

Joining Equity Bank Uganda in 2014, Kituuka Managing Director for two years since November 2022. He leaves behind a customer base of 2.2 million, customer deposits of nearly Shs 3 Trillion, a loan book close to Shs 1.7 Trillion and a balance sheet of nearly Shs 3.5 Trillion.

Some customers reacted with worry over their savings as Equity Bank confirmed Kituuka’s resignation. A one Christine Nimusiima wrote, “Let me rush and get my ka money I don’t want to faint.”

Equity Bank Uganda responded, “… We would like to reassure you of your account and money safety, there is no need to worry…”

A one Emmanuel asked, “Is my money safe?” while others said they were going to withdraw their money. “Equity Bank replied with assurances that the monies were safe and accounts secure.

During Kituuka’s tenure, Equity Bank faced cases of fraud. Last year, a customer claimed that Shs47m had mysteriously disappeared from her account. Equity Bank Uganda responded by saying that the aggrieved customer had been negligent. (Read Story Here and There).

You can see Uganda’s most profitable banks and how much profits they made last year Here.