Business 19 March 2026 Daily Monitor (Uganda)
Equity Bank Uganda's Remarkable Three-Year Turnaround from Losses to Explosive Growth
Equity Bank Uganda turned a Shs36.6b loss in 2023 into a 500% profit surge to Shs104.7b by 2025 through aggressive provisioning, loan book cleanup, and disciplined cost management. This strategic reset strengthened its balance sheet and positioned it as the fastest-growing subsidiary in the Equity Group. Source: https://www.monitor.co.ug/uganda/business/markets/the-reset-equity-bank-uganda-s-three-year-turnaround-5396740
Equity Bank Uganda faced a tough 2023, posting a Shs36.6b loss despite asset growth to Shs3.75 trillion and deposits reaching Shs2.97 trillion. The setback stemmed from doubled loan loss provisions at Shs191.2b, as the bank chose to confront bad loans head-on rather than defer them.
Strong fundamentals persisted, with total equity at Shs417b and a capital adequacy ratio of 17.25%. Non-interest income jumped 37%, bolstered by fees, commissions, and forex gains. The bank also supported communities, disbursing Shs63.3b to farmers, aiding refugees, and training thousands in financial literacy.
Recovery kicked off in 2024, swinging to a Shs13.1b pre-tax profit. Provisions halved to Shs88.5b, expenses fell to Shs552.7b, and non-performing loans dropped from Shs363.9b to Shs216b. The loan book shrank to Shs1.31 trillion, enhancing asset quality and pushing capital ratios to 18.55%.
By 2025, momentum accelerated, with Uganda’s unit delivering a 500% profit after tax rise to Shs104.7b—the Group’s top performer. This engineered rebound highlights disciplined restructuring for sustainable growth.
Source: Daily Monitor (Uganda)