Deposit Protection Fund’s courtesy visit to Equity Bank Uganda – October 25, 2023

A team from the Deposit Protection Fund of Uganda (DPF) led by the Chief Executive Officer, Dr. Julia Clare Olima Oyet paid a courtesy visit to Equity Bank Uganda Limited on October 25, 2023. The team comprised of the Director Finance and Operations – Mr. Yusuf Mukiibi, Director Communications – Mr. Patrick O. Ezaga, Director Investments – Mr. Alan Lwetabe, Assistant Manager Legal – Ms. Jacintah Anyinge and Ag. Director Information Technology – Mr. Andrew Kapere. The visit provided a platform to appraise the Bank on pertinent undertakings of the Fund. The DPF team was received by Mr. Anthony Kituuka, the Equity Bank CEO accompanied by other members of the Bank’s top management.

Dr. Julia Clare shared a brief background of the Fund, its mandate and how it contributes to a stable and sound financial system. Submissions from the DPF team covered the issues of the single customer view project and the attendant compliance level, public awareness on the mandate of the Fund and the Depositor Payout and Premium Management System.

On public awareness, Mr. Patrick Ezaga emphasized the appropriate display of DPF’s public awareness materials such as posters in the banking halls, interlinkage of the two institutions’ websites, the ongoing bi-annual dipstick customer satisfaction surveys, the annual public awareness survey and training of the bank frontline staff across the branch network on deposit insurance.

Mr. Yusuf Mukiibi noted that it was crucial for the Equity Bank team to ensure that customer records are updated with the correct information because this is vital in the event that a payout situation arose.

Mr. Anthony Kituuka appreciated the DPF team for the visit, which he said was important for him and his team to get kept abreast with the operations of the Fund. He noted that Equity Bank was open to collaboration with the Fund and ensuring absolute compliance with the Fund’s requirements.