Equity will now present itself as a unified brand with a consolidated business model for its inclusive range of financial services.
Kampala, Uganda 17th December 2020… Equity Uganda, a wholly owned subsidiary of Equity Group Holdings has today unveiled a new identity in line with Equity Group Holdings’ ongoing transformation journey. The new identity is aimed at creating a sustainable growth path and service delivery in today’s dynamic financial services environment.
Going forward, Equity Uganda will present itself as a unified brand, with one basket of products and services under one roof. From an identity perspective, the new logo now features “Equity” without an entity name such as Bank to signify a one-stop-shop and a consolidated business model for its inclusive range of financial services.
Commenting on the launch of the new identity, Managing Director Equity Uganda, Samuel Kirubi said that the new look is symbolic of Equity’s next phase of transformation to a unified brand offering integrated financial services in line with its vision of championing the socio-economic prosperity of the people of Africa.
“From tomorrow, you will see the new look signage in our branches, as part of our transformation program. Equity will roll out its refreshed look in all its physical outlets and digital banking platforms, social media assets, websites, mobile applications, mobile banking platform, online banking portals ATM screens.” he said.
Further commenting on the rebrand, Mr. Kirubi added that the new look signals Equity’s commitment to an enhanced customer experience “We are constantly innovating to make the customer journey simpler and easier and to ensure that our offerings are constantly relevant to the evolving needs and aspirations of our customers. These improvements will continue to be progressively rolled out supported by customer education. We have witnessed how Equiduuka, our agency infrastructure has broadened financial access and deepened financial inclusion while at the same time earning them an extra revenue stream and creating jobs in rural and urban centres.”
Equity Group Holdings Plc CEO and Managing Director Dr James Mwangi noted, “The operating environment has changed, with the most dramatic shift being customers changing needs and aspirations in line with changing lifestyle brought about by technological advancements. Additionally, the market demographics are embracing youth-targeted products and services and becoming more mobile and digital. As a result, customers are increasingly showing preference for self-service banking, making banking something you do, and not somewhere you go. As a result, Equity will continue to innovate and disrupt its offerings to meet the current and future needs of customers.”
“The refreshed brand identity reflects the future we envision, one which communicates our global capability, strong heritage, innovative culture and agile business model that will carry and give the brand momentum to scale its strengths across Africa and the world,” Dr Mwangi added.
Equity maintains that the fresh identity matches the new realities, business model, customer segments and preferences and the evolving digital space; enabling it to focus on key areas that will see it remain relevant to the diverse and current consumer needs. This, it adds, will be achieved through spurring economic growth by empowering consumers; businesses and enterprises through innovative solutions, infusing digital capabilities at all touchpoints, while nurturing existing and building new relationships.
Going forward, Equity will now present itself to the world as one unified brand, with one basket of products and services under one roof ranging from banking, insurance and investment from a service delivery perspective.
The bank will continue investing and working for the great causes in the country such as financial literacy and access, entrepreneurship, agriculture, innovations and environment.
The roll-out of the new identity by Equity Group Holdings started in Kenya. Subsequently, Equity South Sudan and Equity Uganda have rolled out and more subsidiaries are expected to launch soon.
About Equity Bank Uganda
Equity Bank Uganda began its operations in 2008 and is regulated by Bank of Uganda. The Bank has its Head Office located in Kampala, with a network of 44 branches, 4,277 Equiduuka agents, 5,845 merchants and 46 ATMs spread across the country and serving over one million customers.
Equity Bank Uganda is a subsidiary of Equity Group Holdings Plc, a financial services company listed at the Nairobi Securities Exchange, Uganda Securities Exchange, and Rwanda Stock Exchange. In addition to Equity Bank Uganda, the Group has banking subsidiaries in, Kenya, Rwanda, Tanzania, DRC, South Sudan and a Commercial Representative Office in Ethiopia; with additional non-banking subsidiaries engaged in the provision of investment banking, custodial, insurance agency, philanthropy, consulting, and infrastructure services.
Equity Group has an asset base of USD 9.3 billion. With over 14.2 million customers, the Group is one of the biggest banks by customer base in the region. The Group has a footprint of 335 branches, 52,742 Agents and 35,386 Merchants and 720 ATMs. The Group is the largest bank in market capitalization in East and Central Africa. The Banker Top 1000 World Banks 2020 ranked Equity Bank 754 overall in its global ranking, 62nd in soundness (Capital Assets to Assets ratio), 55th in terms of Profits on Capital and 20th on Return on Assets. In the same year, Moody’s gave the Bank a global rating of B2 with a negative outlook same as the sovereign rating of the Kenyan government due to the Bank’s strong brand recognition, solid liquidity buffers and resilient funding profile, established domestic franchise and extensive adoption of digital and alternative distribution channels.
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