Finance Trust Bank

Last updated

Finance Trust Bank
Type Private
Industry Financial services
Founded1984;40 years ago (1984)
HeadquartersTWED Plaza, Lumumba Avenue, Nakasero, Kampala, Uganda [1]
Key people
Evelyn Kigozi Kahiigi
Chairperson [2]
Annet Nakawunde Mulindwa
CEO [2]
ProductsLoans, savings
Increase2.svg (Aftertax) UGX:9.16 billion (US$2.588 million) (2021) [3]
Total assets UGX:393.9 billion (US$111.3 million) (2021) [3]
Number of employees
610 (2015)
Website financetrust.co.ug

Finance Trust Bank (FTB), commonly called Finance Trust, is a commercial bank in Uganda. It is licensed by the Bank of Uganda, the central bank and national banking regulator. [4]

Contents

Location

The headquarters of FTB are located at TWED Plaza, Lumumba Avenue, Nakasero, in the Central Division of Kampala, Uganda's capital city. [1] The coordinates of the institution's headquarters are 0°19'18.0"N 32°34'35.0"E (Latitude:0.321667; Longitude:32.576389). [5]

History

FTB was founded in 1984 as Uganda Women's Finance Trust Limited. The objective was to provide financial services to low income people in Uganda, especially women. [6] [7] Sixty percent of the bank's customers are women. [8] Subsequently, the institution rebranded to Uganda Finance Trust Limited, a Tier III financial institution, recognized as a microfinance deposit-taking institution under the supervision of the Bank of Uganda. [9] On 11 November 2013, the Bank of Uganda granted the bank a full commercial banking license. The institution then rebranded to its current name. [10]

Overview

As of 31 December 2021, FTB serviced over 500,000 savers and over 29,000 borrowers through a network of 34 interconnected branches, located in all regions of the country. The bank's total customer deposits were UGX:183.4 billion (US$51.8 million). At that time, the bank's total assets were valued at UGX:393.9 billion (approx. US$111.3 million), with shareholders' equity of UGX:61.2 billion (approx. US$17.29 million). [3]

Ownership

The stock ownership of the institution as of May 2018 is summarized in the table below. [11]

Finance Trust Bank Stock Ownership
RankName of OwnerPercentage Ownership
1Uganda Women's Trust (Uganda)20.10
2 Oikocredit Ecumenical Development Cooperative Society (Netherlands)19.60
3Progression Eastern African Micro Finance Equity Fund (Mauritius)18.30
4RIF North 1 (Mauritius)18.30
5Investment & Partner Afrique Entrepreneurs (Mauritius)14.20
6Ugandan Women Entrepreneurs (Uganda)9.50
Total100.0

Branch network

As of April 2022, FTB maintained a network of 34 interconnected branches at the following locations: [12]

  1. Main Branch - Katwe Road, Katwe, Kampala
  2. Arua Branch - Arua
  3. Bombo Road Branch - Bombo Road, Kampala
  4. Busia Branch - Custom Road, Busia
  5. Entebbe Branch - Kampala Road, Entebbe
  6. Fort Portal Branch - Rukidi III Street, Fort Portal
  7. Gomba Branch - Kanoni, Gomba District
  8. Iganga Branch - Main Street, Iganga
  9. Ishaka Branch - Rukungiri Road, Ishaka
  10. Jinja Branch - Iganga Road, Jinja
  11. Kalangala Branch - Kalangala
  12. Kaleerwe Branch - Kaleerwe, Kampala
  13. Kampala Road Branch - Kampala Road, Kampala
  14. Kamuli Branch - Kitimbo Road, Kamuli
  15. Kamwenge Branch - Station Road, Kamwenge
  16. Kapchorwa Branch - 46 Kapchorwa Road, Kapchorwa
  17. Kayunga Branch - Main Street, Kayunga
  18. Kikuubo Branch - Nakivubo Road, Kampala
  19. Kitintale Branch - Kitintale - Kampala
  20. Kumi Branch - Ngora Road, Kumi
  21. Lugazi Branch - Kampala-Jinja Highway, Lugazi
  22. Lwengo Branch - Mbiriizi, Lwengo District
  23. Masaka Branch - Edward Avenue, Masaka
  24. Mbale Branch - Republic Street, Mbale
  25. Mbarara Branch - High Street, Mbarara
  26. Mukono Branch - Kampala–Jinja Highway, Mukono
  27. Nakivubo Branch - 30-32 Mackay Road, Freeman Foundation Building, Kampala
  28. Nansana Branch - Hoima Road, Nansana
  29. Nateete Branch - Masaka Road, Nateete
  30. Ntungamo Branch - Old Kabale Road, Ntungamo
  31. Owino Branch - Kafumbe Mukasa Road, Kampala
  32. Pallisa Branch - Kasodo Road, Pallisa
  33. Soroti Branch - Solot Avenue, Soroti
  34. Tororo Branch - Bazaar Street, Tororo

Governance

Evelyn Kigozi Kahiigi is the chairperson of the board of directors. She is one of the non-executive directors of the bank. There are ten other board members, including Annet Nakawunde Mulindwa, the managing director, and Annette Kiggundu is the only other executive director on the board. [2]

See also

Related Research Articles

Articles related to Uganda include:

Global Trust Bank (Uganda) Limited (GTBU), commonly referred to as Global Trust Bank (GTBU), was a commercial bank in Uganda which started operations in 2008 and was closed down in 2014. Its headquarters were located in a five-storey building on Kampala Road in the center of Uganda’s capital, Kampala. It was licensed as a commercial bank by Bank of Uganda, the central bank and national banking regulator.

Tropical Bank is a commercial bank in Uganda. It is licensed and supervised by the Bank of Uganda, the country's central bank and national banking regulator.

<span class="mw-page-title-main">Stanbic Bank Uganda Limited</span> Commercial bank in Uganda

Stanbic Bank Uganda Limited (SBU) is a commercial bank in Uganda and is licensed by the Bank of Uganda, the national banking regulator.

DFCU Bank, registered as the Development Finance Company of Uganda Bank Limited, is a commercial bank in Uganda. It is licensed by the Bank of Uganda (BoU), Uganda's central bank and national banking regulator.

Bank of Africa Uganda Limited, also known as BOA Uganda (BOAU), is one of the commercial banks in Uganda that have been licensed by the Bank of Uganda, the country's central bank and national banking regulator.

The Bank of Baroda Uganda Limited, also known as the Bank of Baroda Uganda (BBU), is a commercial bank in Uganda and a wholly owned subsidiary of Indian government owned banking and financial service company Bank of Baroda. It is one of the commercial banks licensed by the Bank of Uganda, the national banking regulator.

<span class="mw-page-title-main">Ecobank Uganda</span> Commercial bank in Uganda

Ecobank Uganda is a bank in Uganda that operates as a commercial bank under a license granted by the Bank of Uganda, the central bank and national banking regulator.

<span class="mw-page-title-main">National Social Security Fund (Uganda)</span> Quasi-government agency

The National Social Security Fund (NSSF) is a quasi-government agency responsible for the collection, safekeeping, responsible investment, and distribution of retirement funds from employees of the private sector in Uganda who are not covered by the Government Retirement Scheme. Participation for both employers and employees is compulsory. The Uganda National Social Security Fund is the largest pension fund in the countries of the East African Community, with total assets of USh18.58 trillion, as of June 2023.

PostBank Uganda is a commercial bank in Uganda, licensed and supervised by the Bank of Uganda, the country's central bank and national banking regulator. The bank received her tier-1 banking license in December 2021.

<span class="mw-page-title-main">Absa Bank Uganda Limited</span> Commercial bank in Uganda

Absa Bank Uganda Limited, formerly known as Barclays Bank of Uganda Limited, is a commercial bank in Uganda. It is licensed by the Bank of Uganda, the central bank and national banking regulator. The bank is a subsidiary of Absa Group Limited, a financial services conglomerate, based in South Africa, with banking subsidiaries in 12 African countries and representative offices in two other African countries. Absa Bank Group, whose shares trade on the JSE Limited, was reported to have total assets in excess of US$91 billion, as of October 2019. 

Nateete is a location in the city of Kampala, Uganda's capital.

Pride Microfinance Limited (PMFL), is a microfinance deposit-taking institution (MDI) in Uganda. It is licensed by the Bank of Uganda, the central bank and national banking regulator.

Opportunity Bank Uganda Limited (OBUL), is a commercial bank in Uganda. It received a commercial banking licence from the Bank of Uganda on 25 September 2019.

FINCA Uganda Limited, also known as FINCA Uganda, is a microfinance deposit-accepting institution (MDI) in Uganda. It is licensed and regulated by the Bank of Uganda, the central bank and national banking regulator.

UGAFODE Microfinance Limited, commonly known as UGAFODE, is a microfinance institution in Uganda. It is registered and licensed as microfinance deposit-accepting institution (MDI) by the Bank of Uganda, the central bank and national banking regulator. UGAFODE was the fourth MDI registered in Uganda.

Letshego Microfinance Uganda,, whose official name is Letshego Uganda Limited, is a Tier IV microfinance institution in Uganda.

EFC Uganda Limited (EFCUL), also known as EFC Uganda, is a microfinance deposit-taking institution (MDI) in Uganda. It is licensed and supervised by the Uganda Microfinance Regulatory Authority (UMRA). EFCUL lends primarily to small enterprises.

References

  1. 1 2 The Independent Uganda (25 December 2023). "Finance Trust Bank unveils new corporate head offices". The Independent (Uganda) . Kampala, Uganda. Retrieved 10 January 2024.
  2. 1 2 3 Finance Trust Bank (28 April 2022). "Finance Trust Bank: About Us: Board of Directors". Finance Trust Bank. Kampala. Retrieved 28 April 2022.
  3. 1 2 3 Muhereza Kyamutetera (27 April 2022). "Putting Women's Financial Inclusion First: Finance Trust Bank's 2021 Net Profit Grows 57 Per Cent". CEO Magazine Uganda. Kampala, Uganda. Retrieved 28 April 2022.
  4. ↑ Bank of Uganda (31 March 2017). "List of licensed Commercial Banks as at March 31, 2017" (PDF). Kampala: Bank of Uganda (BOU). Retrieved 18 August 2017.
  5. ↑ Google (10 January 2024). "Location of the Headquarters of Finance Trust Bank" (Map). Google Maps . Google. Retrieved 10 January 2024.
  6. ↑ TFB. "Trust Finance Bank About Us". Kampala: Trust Finance Bank (FTB). Retrieved 14 November 2016.
  7. ↑ Lyatuu, Justus (11 December 2016). "Uganda: Finance Trust, MTN, Airtel in Mobile Money Deal". The Observer (Uganda) via AllAfrica.com . Kampala. Retrieved 17 August 2017.
  8. ↑ OCO (31 July 2017). "Finance Trust Bank: Banking Services for Women". London: Oikocredit (OCO). Retrieved 18 August 2017.
  9. ↑ Ssempijja, David (21 February 2011). "Banks advised to embrace technology". New Vision . Kampala. Retrieved 14 November 2016.
  10. ↑ Mugabe, David (22 December 2013). "Banking remains attractive with Finance Trust as latest entrant". New Vision . Kampala. Retrieved 14 November 2016.
  11. ↑ Finance Trust Bank (28 May 2018). "Finance Trust Bank: OwnerShip and Capital Share". Kampala: Finance Trust Bank. Retrieved 28 May 2018.
  12. ↑ Finance Trust Bank (28 April 2022). "Branch Network of Finance Trust Bank". Finance Trust Bank. Kampala, Uganda. Retrieved 28 April 2022.

00°19′18″N32°34′35″E / 0.32167°N 32.57639°E / 0.32167; 32.57639

This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.