ABC Bank (Uganda)

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ABC Bank (Uganda)
Type Private
Industry Financial Services
Founded Feb 2010
Headquarters Colline House
4 Pilkington Road
Kampala, Uganda
Key people James Wilson Muwanga
Chairman
Mahendra Singh Rawat
Chief Executive Officer[1]
Products Loans, Savings, Checking, Investments
Revenue IncreaseAftertax:US$479,615 (UGX:1,191,190,000) (2012)
Total assets US$12.4 million (UGX:30.72 billion) (2012)
Employees 44 (2012)
Website Homepage

ABC Bank (Uganda), whose full name is ABC Capital Bank, is a commercial bank in Uganda. It is one of the commercial banks licensed by the Bank of Uganda, Central bank and national banking regulator.[2]

Overview[edit]

The bank provides banking services to large corporations, small-to-medium-sized businesses (SMEs), as well as individuals. As of December 2012, the bank was Uganda's fastest growing SME bank and had moved into the top 20 banks in terms of profits. At that time, the institution's total assets were valued at about US$12.4 million (UGX:30.72 billion), with shareholders' equity of about US$7.7 million (UGX:19.12 billion).[citation needed]

History[edit]

ABC Capital Bank was founded in 1992 as Capital Finance Corporation Limited (CFCL), a Tier III Ugandan Financial Institution, under the licensure and supervision of Bank of Uganda. In 1999, CFCL established a wholly owned subsidiary CFC Forex Bureau. In 2008, CFCL signed a memorandum of understanding with ABC Bank (Kenya), identifying the Kenyan institution as a strategic investor in CFCL, in the latter's efforts to transform into a commercial bank. In February 2010, following the acquisition of a commercial banking license from Bank of Uganda, CFCL rebranded as ABC Capital Bank.[3]

Ownership[edit]

ABC Bank (Kenya) is an investor in ABC Bank (Uganda).[4] It has been reported in the East African media that ABC Bank Kenya bought 40% of Capital Finance Corporation, a Tier III Ugandan financial institution in 2008.[5] As of March 2012, the shareholding in ABC Capital Bank, is summarized in the table below:

ABC Bank (Uganda) Stock Ownership
Rank Name of Owner Percentage Ownership
1 ABC Bank (Kenya) 68.0
2 Others 32.0
Total 100.0

Branch Network[edit]

As of April 2012, ABC Bank (Uganda), is SME focussed bank maintains networked branches at the following locations:[6]

  1. Main Branch - Colline House, 4 Pilkington Road, Kampala
  2. Avemar Branch - Avemar Shopping Center, Luwum Street, Kampala

See also[edit]

References[edit]

  1. ^ "Members of Board of Directors". ABC Capital Bank (Uganda). Retrieved 26 April 2014. 
  2. ^ "List of Licensed Commercial Banks In Uganda". Bank of Uganda. Retrieved 26 April 2014. 
  3. ^ "History of ABC Capital Bank". ABC Capital Bank. Retrieved 30 April 2014. 
  4. ^ Mbanga, Jeff (19–26 November 2008). "Kenyan Banks Assert Presence In Uganda". The African Executive. Retrieved 30 April 2014. 
  5. ^ Mbanga, Jeff (7–14 January 2009). "Uganda Economy: The Year That Was". The African Executive. Retrieved 30 April 2014. 
  6. ^ Branches of ABC Capital Bank

External links[edit]