Gift Shoko, Equity Bank’s Managing Director
HABARI DAILY I Kampala, Uganda I Uganda’s Central Bank (BoU) has once again recognized Equity Bank Uganda as a Domestic Systemically Important Bank (D-SIB).
A Domestic Systemically Important Bank (D-SIB) is a bank whose failure could cause significant disruption to a country’s domestic financial system and economy. These banks are typically large, complex, and interconnected with other financial institutions. They are often referred to as “too big to fail.”
This designation underscores Equity Bank’s significant role in Uganda’s financial sector and its continued commitment to maintaining financial stability.
Gift Shoko, Equity Bank Uganda’s Managing Director says that this marks the third consecutive year the bank has received this prestigious recognition.
“The DSIB status is awarded to banks whose failure could have a substantial impact on the financial system and the broader economy of a nation,” he noted.
He added that by meeting the stringent criteria set by the Bank of Uganda, Equity Bank has demonstrated its robust financial health, operational soundness and adherence to regulatory standards.
“Being recognized as a D-SIB for the third-year running is a testament to our commitment to financial stability and customer trust,” he said, adding that they remain dedicated to upholding the highest standards of banking excellence and contributing to the growth and development of Uganda’s economy.
Shoko further added that this achievement reflects Equity Bank’s strategic initiatives including; its focus on digital transformation, customer-centric services and strategic partnerships.
“The bank’s efforts to collaborate with fintech companies and other stakeholders have further strengthened its position in the competitive banking landscape,” he pointed out.
According to BoU, as a D-SIB, Equity Bank Uganda is subject to enhanced regulatory oversight and must maintain higher capital buffers to absorb potential shocks, ensuring continued stability in the financial system.
This proactive approach aligns with global best practices and reinforces the bank’s role as a pillar of Uganda’s financial infrastructure.
Looking ahead, says Shoko, Equity Bank remains focused on innovation and inclusive growth, aiming to expand its reach and impact across Uganda.
The bank’s sustained recognition as a DSIB highlights its resilience and leadership in the banking sector, positioning it well for future challenges and opportunities.
Equity Bank Uganda, is part of Equity Group Holdings Plc. is a Pan-African financial services holding company listed at the Nairobi Securities Exchange, Uganda Securities Exchange, and Rwanda Stock Exchange.
The Group has an asset base of USD 13.96 Billion, customer base of 21.6 million supported by a footprint of 399 branches, 85,080 Agents, over 1.1 million Pay with Equity (PWE) merchants, 40,045 Point-of-Sale (POS) Merchants, 899 ATMs and an extensive adoption of digital banking channel.
