Citibank Uganda

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Citibank Uganda Limited
Type Subsidiary of Citigroup
Industry Financial Services
Founded 1999
Headquarters 4 Ternan Avenue
Nakasero, Kampala, Uganda
Key people Chinedu Ikwudinma
Managing Director[1]
Products Loans, Checking, Savings, Investments, Debit Cards
Revenue Increase Aftertax: US$11.2 million (UGX:26.2 billion) (2010)
Total assets US$241.4 million (UGX:587.4 billion) (2011)
Employees 40+ (2010)
Website Homepage

Citibank Uganda Limited (CUL), also referred to as Citibank Uganda, is a commercial bank in Uganda. It is one of the regulated banking institutions licensed by the Bank of Uganda, the national banking regulator.[2]

Overwiew[edit]

The bank is a medium-sized International bank that focuses on meeting the banking needs of large corporate customers as well as of those individuals with high networth. As of December 2011, the bank's total asset valuation was approximately US$241.4 million (UGX:661.8 billion). At that time, shareholders' equity was estimated at about US$63.5 million (UGX:155 billion).[3] The bank is a 100% subsidiary of Citicorp of New York, which in turn is a subsidiary of Citigroup, an International financial services organization, that maintains its headquarters in the United States of America, and whose shares are quoted on the New York Stock Exchange and on the Tokyo Stock Exchange.

History[edit]

Citibank Uganda Limited was established in 1999 and began commercial banking activities following the issuance of a banking licence by the Bank of Uganda, the national Central Bank and banking regulalor in the country. In December 2009, Cutibank Uganda Celebtrated 10 Years in business, having grown shareholders capital from UGX:5.2 billion (about US$2.6 million) in 1999 to UGX:102 billion (about US$51 million) in 2009. The bank is an active participant in the promotion of financial literacy in Uganda, especially in the country's schools.[4]

See also[edit]

References[edit]

  1. ^ Tendo, Steven (18 September 2009). "Uganda: Citibank Donates Reading Materials". Daily Monitor via AllAfrica.com. Retrieved 1 May 2014. 
  2. ^ "List of Licensed Commercial Banks In Uganda As of 2012". Bank of Uganda. Retrieved 1 May 2014. 
  3. ^ Nalubega, Flavia (8 June 2012). "Multinational Banks Urged On Serving SMEs". Daily Monitor. Retrieved 1 May 2014. 
  4. ^ Ismail Musa, Ladu (11 February 2011). "Citibank Partners In NIE Project". Daily Monitor Mobile. Retrieved 1 May 2014. 

External links[edit]