PostBank Uganda

Last updated

PostBank Uganda
Type 100% Government owned
Industry Financial services
Founded1926;97 years ago (1926)
Headquarters4 - 6 Nkrumah Road
Kampala, Uganda
Key people
Andrew Otengo Owiny
Chairperson [1]
Julius Kakeeto
Managing Director / Chief Executive Officer [2]
Products Loans, checking, savings, investments
RevenueIncrease2.svgAftertax:UGX:12.2 billion (US$3.17 million) (2021)
Total assets UGX:745 billion (US$193.3 million), (2021)
Number of employees
700+ (2020)
Website www.postbank.co.ug

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. [3] [4]

Contents

Before that, PostBank Uganda was classified as a non-bank credit institution, still under the supervision of the Bank of Uganda. [5]

Overview

As of December 2020, PostBank Uganda had total assets worth UGX:745 billion (approx. US$193.3 million), with shareholders' equity worth UGX:117.1 billion (approx. US$30.4 million). At that time customer deposits totaled UGX:507.2 billion (approx. US$131.6 million), and its loan book stood at UGX:454.9 billion (approx. US$118 million). [6] [7]

History

PostBank Uganda has been in existence since 1926. [8] It started out as a department in the Post Office. In February 1998 PostBank Uganda Limited was incorporated in accordance with the Communications Act of 1997 to take over the operations of the former Post Office Savings department.

PostBank Uganda was incorporated under the Companies Act in February 1998 as a limited liability company. The bank's operations are supervised by the Bank of Uganda under the Financial Institutions Act. Before December 2021, it was classified as a Tier II Institution (Non-Bank Credit Institution), by the Bank of Uganda (BOU). That month, it received a Tier I banking license from BOU. [5]

Ownership

PostBank Uganda is wholly owned by the Government of Uganda. [8]

Branch network

As of February 2021, PostBank Uganda maintained a branch network of 33 fixed branches and 17 mobile banking units, totaling 50 branches. [9]

Fixed branches

  1. Arua Branch - Arua
  2. Bombo Branch - Bombo
  3. Bugolobi Branch - Bugoloobi, Kampala
  4. City Branch - Nkrumah Road, Kampala (Head Office)
  5. Entebbe Branch - Entebbe
  6. Fort Portal Branch - Fort Portal
  7. Gulu Branch - Gulu
  8. Hoima Branch - Hoima
  9. Iganga Branch - Iganga [10]
  10. Jinja Branch - Jinja
  11. Kabale Branch - Kabale
  12. Kakiri Branch - Kakiri
  13. Kampala Road Branch - Kampala Road, Kampala
  14. Kamwenge Branch - Kamwenge [11]
  15. Kanungu Branch - Kanungu [12]
  16. Kasese Branch - Kasese
  17. Kayunga Branch - Kayunga
  18. Kitgum Branch - Kitgum
  19. Lacor Branch - Lacor Hospital, Gulu
  20. Lira Branch - Lira
  21. Masaka Branch - Masaka
  22. Mbale Branch - Mbale
  23. Mbarara Branch - Mbarara
  24. Mubende Branch - Mubende
  25. Mukono Branch - Mukono [1]
  26. Nakasongola Branch - Nakasongola
  27. Ndeeba Branch - Ndeeba, Kampala
  28. Ntungamo Branch - Ntungamo
  29. Soroti Branch - Soroti
  30. Wandegeya Branch - Wandegeya, Kampala
  31. William Street - Kampala. [13]
  32. Anaka Branch - Nwoya

Mobile branches

The mobile branches are located in the following towns and districts: [14]

  1. Budaka - Budaka District
  2. Bududa - Bududa District
  3. Bukedea - Bukedea District
  4. Butaleja - Butaleja District
  5. Fort Portal - Kabarole District
  6. Kamwenge - Kamwenge District
  7. Kapchorwa - Kapchorwa District
  8. Kibaale - Kibaale District
  9. Kyegegwa - Kyegegwa District [15]
  10. Kyenjojo - Kyenjojo District
  11. Manafwa - Manafwa District
  12. Pallisa - Pallisa District
  13. Sironko - Sironko District
  14. Tororo - Tororo District

Governance

The activities of PostBank Uganda are directed by its board of directors. As of February 2021, the chairperson of the board was Andrew Otenga Owiny. [1] The day-to-day activities of the bank are supervised by a team of ten bank managers, headed by the managing director. As of November 2019, the managing director and chief executive officer is Julius Kakeeto. [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.

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.

<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">Equity Bank Uganda Limited</span> Bank in Uganda

Equity Bank Uganda Limited (EBUL), is a commercial bank in Uganda. It is licensed by the Bank of Uganda, the central bank and national banking regulator. EBUL is a subsidiary of Equity Group Holdings Limited, a financial service conglomerate with headquarters in Kenya and subsidiaries in six countries of the African Great Lakes Region.

Mbale Regional Referral Hospital, commonly known as Mbale Hospital is a hospital in Mbale, Eastern Uganda. It is the referral hospital for the districts of Busia, Budaka, Kibuku, Kapchorwa, Bukwa, Butaleja, Manafwa, Mbale, Pallisa, Sironko and Tororo. The hospital also serves many more patients from outside the hospital's catchment area.

<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. 

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.

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.

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.

<span class="mw-page-title-main">Kyegegwa District</span> District in Western Region, Uganda

Kyegegwa District is a district in Western Region of Uganda. The town of Kyegegwa hosts the district headquarters.

Wazalendo Savings and Credit Cooperative Society (WSACCO), also referred to as Wazalendo Sacco, is a savings and credit co-operative society in Uganda. It is an institutional Sacco composed of Uganda People's Defence Force (UPDF) personnel and their families, UPDF Reserve Forces, and staff of Uganda's Ministry of Defence. WSACCO is affiliated with the Uganda Co-operative Savings and Credit Union Limited and with the Uganda Co-operative Alliance.

The Kyenjojo–Kabwoya Road, in the Western Region of Uganda, connects the town of Kyenjojo in the Kyenjojo District with Kabwoya in the Hoima District. The road is part of the 238 kilometres (148 mi) Kyenjojo–Hoima–Masindi–Kigumba road corridor.

The Tirinyi–Pallisa–Kamonkoli–Kumi Road is a road in the Eastern Region of Uganda, connecting the towns of Tirinyi in Kibuku District, Pallisa in Pallisa District, Kamonkoli in Budaka District, and Kumi in Kumi District.

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 3 Daily Monitor Reporter (19 February 2021). "PostBank Gets New Board Chair". Daily Monitor . Kampala. Retrieved 19 February 2021.
  2. 1 2 Javia Ssebwami (11 November 2019). "Post Bank Uganda announces new managing director". Kampala: PML Daily. Retrieved 3 April 2020.
  3. ↑ Amon Katungulu (14 December 2021). "PostBank elevated to tier one commercial bank". Nile Post Uganda. Kampala, Uganda. Retrieved 14 December 2021.
  4. ↑ Godfrey Ivudria (16 December 2021). "Post Bank Becomes A Fully-Fledged Commercial Bank". East African Business Week . Kampala, Uganda. Retrieved 17 December 2021.
  5. 1 2 Dorothy Nakaweesi (15 December 2021). "Post Bank becomes Uganda's 27th commercial bank". Daily Monitor . Kampala, Uganda. Retrieved 16 December 2021.
  6. ↑ Javira Ssebwami (26 April 2022). "PostBank posts strong 2021 results; sets new record highs across major fundamentals". PML Daily. Kampala, Uganda. Retrieved 10 August 2022.
  7. ↑ George Mangula (26 April 2022). "Post Bank posts 15.8 percent growth in gross profit". TheCooperator.news. Kampala, Uganda. Retrieved 10 August 2022.
  8. 1 2 "Our History" . Retrieved 29 May 2020.
  9. ↑ "List of PostBank Branches". PostBank Uganda. Archived from the original on 31 December 2013. Retrieved 29 May 2014.
  10. ↑ Kiirya, Donald (21 March 2009). "Central Bank commends PostBank". New Vision. Archived from the original on 31 May 2014. Retrieved 29 May 2014.
  11. ↑ Mafaranga, Hope (25 October 2009). "Uganda: Post Bank Goes to Kamwenge". New Vision via AllAfrica.com . Retrieved 29 May 2014.
  12. ↑ Baraire, Patson (7 November 2010). "Uganda: Kanungu Gets Its Second Commercial Bank". New Vision via AllAfrica.com . Retrieved 29 May 2014.
  13. ↑ Faridah Kulabako (18 February 2011). "Banks Intensify Branch Growth to Raise Customer Base". Daily Monitor . Kampala, Uganda. Retrieved 29 May 2014.
  14. ↑ Senyonyi, Taddewo (6 January 2014). "Banking On Wheels: Banks Innovatively Reaching Out to The Unbanked In Remote Areas". The CEO Magazine (Kampala). Retrieved 5 June 2014.
  15. ↑ Ghosh, Ishita (28 September 2010). "The Ugandan Millionaire". Theworkzine.com. Retrieved 29 May 2014.
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.