Unguka Bank

Last updated
Unguka Bank
TypePrivate
Industry Banking
Founded2005
Headquarters Kigali, Rwanda
Key people
Justin Kagishiro
Managing Director
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.ungukabank.com

Unguka Bank Plc (UB), commonly known as Unguka Bank, is a microfinance bank in Rwanda. It is one of the banks 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

Related Research Articles

<span class="mw-page-title-main">United Bank Limited</span> Pakistani multinational commercial bank

United Bank Limited (UBL) (یونائیٹڈ بینک لمیٹڈ) is a Pakistani multinational commercial bank which is based in Karachi, Pakistan.

ACLEDA Bank Plc. is a public limited company, formed under the Banking and Financial Institutions Law of the Kingdom of Cambodia. Based in Phnom Penh, with 261 offices covering all provinces, as well as 42 in Laos, and seven in Myanmar. ACLEDA started out in 1993 when it began providing micro credits to war victims. By now it is Cambodia's major commercial bank. ACLEDA had more than $5,244 million in total assets as of December 31, 2017, and more than $3,117 million in deposits, with over $3,085 million in loans outstanding. According to the National Bank of Cambodia, ACLEDA Bank is the largest domestic commercial bank in terms of total assets and number of clients, with more than 1.7 million depositors as of December 31, 2017.

Before Uganda's independence in 1962, the main banks in Uganda were Barclays ; Grindlays, Standard Bank and the Bank of Baroda from India. The currency was issued by the East African Currency Board, a London-based body. In 1966, the Bank of Uganda (BoU), which controlled the issue of currency and managed foreign exchange reserves, became the central bank and national banking regulator. The government-owned Uganda Commercial Bank and the Uganda Development Bank were launched in the 1960s. The Uganda Development Bank is a state-owned development finance institution, which channeled loans from international sources into Ugandan enterprises and administered most of the development loans made to Uganda.

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.

KCB Group Limited, also known as the KCB Group, is a financial services holding company based in the African Great Lakes region. The Group's headquarters are in Nairobi, Kenya, with its subsidiaries being KCB Bank Kenya Limited, KCB Bank Burundi Limited, KCB Bank Rwanda Limited, KCB Bank South Sudan Limited, KCB Bank Tanzania Limited, KCB TMB Congo and KCB Bank Uganda Limited.

ABC Bank (Uganda), whose full name is ABC Capital Bank Uganda Limited, is a commercial bank in Uganda and licensed by the Bank of Uganda, the central bank and national banking regulator.

<span class="mw-page-title-main">Housing Bank of Rwanda</span> Rwandan bank

Housing Bank of Rwanda (HBR), also known as Rwanda Housing Bank, was a commercial bank in Rwanda. Its name in French is Banque de l'Habitat du Rwanda SA (BHR). The bank was one of the commercial banks licensed by the National Bank of Rwanda, the national banking regulator.

<span class="mw-page-title-main">Urwego Bank</span> Bank

Urwego Bank (Urwego) is a Christ-centered Microfinance bank in Rwanda. It is licensed by the National Bank of Rwanda, the national banking regulator.

<span class="mw-page-title-main">I&M Holdings Limited</span> Kenyan financial services conglomerate

I&M Holdings Limited, also I&M Bank Group, is a conglomerate comprising banks, an insurance company and investment advisory businesses. The group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Mauritius, Rwanda, Tanzania and Uganda. The flagship company of the group is I&M Bank Limited, with headquarters in the I&M Bank Tower on Kenyatta Avenue in the central business district of Nairobi, Kenya's capital and largest city.

<span class="mw-page-title-main">National Bank of Commerce (Tanzania)</span>

National Bank of Commerce (Tanzania), whose full name is National Bank of Commerce (Tanzania) Limited, sometimes referred to as NBC (Tanzania), or as NBC (Tanzania) Limited, is a commercial bank in Tanzania. It is one of the commercial banks licensed by the Bank of Tanzania, the country's central bank and the national banking regulator. In August 2019, the bank was fined TSh 1 billion (US$435,000) because of the failure to establish a data center in the East African nation.

NCBA Bank Kenya, whose full name is NCBA Bank Kenya Plc, is a commercial bank in Kenya. It is licensed by the Central Bank of Kenya, the country's central bank and national banking regulator.

Commercial Bank of Africa Group is a financial services provider in East Africa. Its headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Rwanda, Tanzania, Uganda and Ivory Coast.

<span class="mw-page-title-main">NCBA Bank Tanzania</span> Tanzanian commercial bank

NCBA Bank Tanzania Limited, is a merged bank between Commercial Bank of Africa (Tanzania) and NIC Bank Tanzania. It is a commercial bank in Tanzania licensed by the Bank of Tanzania, the central bank and national banking regulator.

Intercontinental Bank plc, commonly referred to as Intercontinental Bank or simply Intercontinental, was a commercial bank in Nigeria. It is now owned by Access Bank plc. Intercontinental Bank was one of the twenty-four commercial banks licensed by the Central Bank of Nigeria, the country's banking regulator.

Letshego Bank Tanzania Limited, commonly known as Letshego Bank is a commercial bank in Tanzania, licensed by Bank of Tanzania, the central bank and national banking regulator.

AccessBank Liberia (ABL), is a microfinance commercial bank in Liberia. It is one of the commercial banks licensed by the Central Bank of Liberia, the national banking regulator.

Bank of Africa Rwanda Limited also BOA Rwanda, formerly known as Agaseke Bank, is a commercial bank in Rwanda. The bank is one of the licensed banks in the Republic of Rwanda. The bank is a growing financial services provider in Rwanda. As of December 2012, its total assets were valued at approximately US$14.6 million.

Access Microfinance Holding AG, often referred to as AccessHolding, is a commercial microfinance investment and holding company based in Germany. AccessHolding specializes in start-ups and early-stage microfinance institutions (MFIs). It will establish new MFIs together with other partners, and transform existing non-bank microlending institutions into full-service microfinance banks.

AB Bank Rwanda (ABR), is a microfinance bank in Rwanda. The bank is one of the licensed banks in the Republic of Rwanda.

<span class="mw-page-title-main">Equity Group Holdings</span>

Equity Group Holdings Limited (EGHL), formerly Equity Bank Group, is a financial services holding company based in the African Great Lakes region. EGHL's headquarters are in Nairobi, Kenya, with subsidiaries in Kenya, Uganda, Tanzania, South Sudan, Rwanda, Democratic Republic of the Congo and a representative office in Ethiopia.

References

  1. "MICROCAPITAL BRIEF: Unguka Microfinance of Rwanda Reports 58% Profit Increase to $384k - MicroCapital". 24 March 2011.
  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.