If you bank at Equity, withdraw your money as early as now - An insider spills the beans.

Monday, December 23, 2024 - An affected former employee of Equity Bank has shared details that paint a grim picture of internal operations, shedding light on alleged systemic problems and financial mismanagement.

The source, whose identity is concealed for protection, reports that the bank is masking major challenges despite publicly projecting profitability.

According to the source, employees were blindsided by sudden terminations shortly after being promised bonuses, with termination letters citing "sustained poor work performance" under Clause 13.0 of their contracts.

One such letter, dated December 13, 2024, outlines the terms of termination, including a one-month salary in lieu of notice, payment for unused leave days, and a Certificate of Service.

However, the source disputes the rationale given, pointing to broader organizational turmoil and alleged deceit toward both employees and customers.

The source further claims that Equity Bank is overstating its profits and relying heavily on its operations in the Democratic Republic of Congo (DRC) to mask poor performance in Kenya.

Allegations of money laundering involving senior politicians and mismanagement by top executives have also been raised, suggesting a deeper rot within the institution.

The source warns that disillusioned employees, subjected to threats and poor working conditions, have resorted to internal fraud, exacerbating the bank's challenges.

Customers are cautioned to remain vigilant, with the source questioning the sustainability of the bank’s current practices.

"Hi Nyakundi. I'm one of the many affected employees in termination of contracts at Equity Bank. 

This bank is pretending everything is okay in the eyes of the public. 

All is not well. Imagine a company that had announced that it has made billions of profit and they promised employees that they would get a bonus in December only for them to receive their salaries in the wee hours of the night on Friday so that they could not question the promise of the bonus. 

This company is deceiving customers and stealing from them without knowing. 

I've evidence of this since I've been an insider. 

Any sane person can see all is not well because after making 'billions in profit,' why did they fire employees and the bonus they had promised their employees?

These profits are not real, they're cooked figures. The company is dying. The investors should be aware of this.

Earlier this year we had a meeting with the so-called CEO, and Kenya as a subsidiary is not doing well, they're using DRC to cover up. 

The bank is using senior politicians in government to do money laundering and stashing money at Equity Bank. 

Those accounts are there, I've seen them. This is done with the knowledge of the senior people at Equity Bank.

The employees are not motivated, and that's why they're stealing from the bank. 

That's why there are so many cases of fraud by employees. 

The senior people at the bank are abusing employees threatening to fire them and telling them the bank doesn't need them.

 All customers should be careful, and if possible, they should withdraw their money as early as now. 

Wasiseme hawakuambiwa. Kindly hide my identity. Thank you."

The Kenyan DAILY POST.