Unguka Bank

Last updated
LOLC Unguka Finance PLC
Company typePrivate
Industry Banking
Founded2005
Headquarters Kigali, Rwanda
Key people
Justin Kagishiro
chief executive officer
Products Loans, Electronic productss, savings, investments, mortgages, Remittances
RevenueIncrease2.svg Aftertax: US$387,000+ (RWF:230 million) (2010) [1]
Number of employees
170
Website www.lolcunguka.com

LOLC Unguka Finance PLC, commonly known as Unguka Bank, is a microfinance institution in Rwanda. It is one of the MFI licensed by the National Bank of Rwanda, the country's banking regulator. [2]

Contents

Overview

As of June 2012, UBL was a small but growing financial service provider, whose total asset valuation and shareholders' equity were publicly unknown at this time. At that time, the bank had 556 shareholders and 14 branches. [3]

History

The institution was founded in 2005, as Unguka Microfinance Limited, [4] by 215 investors with total capital of about US$538,400 (RWF:321.1 million). In 2008, the bank's processes were automated. [5] In 2012, the institution transformed into a microfinance bank, following the issuance of a microfinance banking licence by the National Bank of Rwanda. The bank rebranded as Unguka Bank Limited. [6]

Ownership

The stock of Uguka Bank is privately owned by corporate and individual investors. At this time, the detailed shareholding in the bank is not publicly known. 35% shareholding is owned by Rural Impulse Fund II (RIF). [3]

See also

References

  1. ↑ "MICROCAPITAL BRIEF: Unguka Microfinance of Rwanda Reports 58% Profit Increase to $384k - MicroCapital". 24 March 2011. Archived from the original on April 6, 2012.
  2. ↑ "List of Licensed Commercial Banks In Rwanda". Archived from the original on 2012-05-12.
  3. 1 2 Rumanzi, Abraham (2012-06-20). "Rwanda: Unguka Licensed as a Bank, Plans Expansion". The Independent (Kampala). Retrieved 2017-08-30.
  4. ↑ "UBL Founded In 2005". Archived from the original on 2016-10-30. Retrieved 2011-12-17.
  5. ↑ "UNGUKA BANK THE TRANSITION STORY". Hope Magazine. Retrieved 2021-05-17.
  6. ↑ "Rwanda: Unguka Bank Seeks Commercial Bank Status". Rwanda Express (Kigali). 2012-06-22. Retrieved 2017-08-30.
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