DFCU Bank, registered as the Development Finance Company of Uganda Bank Limited and commonly known as DFCU, is a commercial bank in Uganda. It is a regulated financial institution and licensed by the Bank of Uganda, the central bank and national banking regulator.
DFCU Bank is a major player in the financial sector, with an estimated asset base of US$500.1 million (UGX:1.39 trillion) as of December 2014[update], representing about 7.5 percent of all bank assets in Uganda at the time. Shareholders' equity as of December 2013 was approximately US$57 million (UGX:143.6 billion). In 2013, the bank was the fifth-largest commercial bank in Uganda, by assets.
DFCU Bank was established in 1964 as a development finance company; Development Finance Company of Uganda. In 2000, DFCU acquired Global Trust Bank (GTB), transforming itself into a commercial bank at that time.
On 25 July 2014, DFCU Bank acquired some of the assets and liabilities of the former GTB, a small retail financial institution that the Bank of Uganda had closed. The acquisition included all customer deposit accounts and all loan accounts. Those assets not taken over by DFCU "will be liquidated by Bank of Uganda". The former assets of GTB that DFCU acquired were valued at about UGX:73 billion (approximately US$28 million).
As of April 2013[update], Actis, which at that time owned 60.02 percent of the stock of DFCU Group, began negotiations to sell some of the stock to Norfund of Norway and Rabo Development BV of the Netherlands. When those negtotiations were concluded, the stock ownership in the company looked as depicted in the table below:
With headquarters in Kampala, DFCU Bank has branches in central, eastern, northern, and western Uganda. As of November 2014[update], the bank maintained 43 branches in Uganda. DFCU Bank has also announced plans to expand into the countries of Kenya, Tanzania, Rwanda, Burundi, and South Sudan. The branch network includes the following locations, arranged alphabetically: The list includes some branches of the now defunct GTB.
DFCU Group has built a new headquarters building, which also houses the main branch of DFCU Bank. The building is often referred to as DFCU House and rises ten stories high. Located at 26 Kyaddondo Road, on Nakasero Hill, in Kampala's central business district, the development has underground and surface parking, as well as rentable, retail, and office space on several levels.