Equity Bank has dismissed claims by Deputy President William Ruto that they granted an investor a loan of Sh 15 billion to invest in Uganda after getting a phone call from the DP.
During an interview with Inooro TV/FM on Wednesday, Ruto said he helped Turkish investor, Harun Aydin, start a vaccine factory in Uganda after assisting him to secure Sh 15 billion from Equity Bank.
But in a statement, Equity Bank distanced itself from Ruto’s claims saying they don’t issue loans on phone calls.
“We would like to categorically state that Equity Bank or any other registered financial institution worth its name, does not issue loans via phone calls. It is in the public domain that Sh15 b is such a high figure that we can not only issue it by phone.
“But the collateral required for such an advance would be so intense that this bank would complete a very rigorous process of background checks and value investigations. There is no chance any such transaction would have been made by an individual least of all a foreigner,” Equity said
“We however remain willing to assist investigative authorities to get to the bottom of any matter that may compromise national security and the integrity of our financial systems especially where we have been wrongfully mentioned,” Equity added.
Here is the full statement from Equity Bank