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 one of the regulated financial institutions that is 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 nearly US$481.5 million (UGX:1.3 trillion) as of December 2014[update], representing about 7% 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 Gold Trust Bank, transforming into a commercial bank at that time. In 2005, the shares of DFCU Group, the parent company of DFCU Bank, were listed on the Uganda Securities Exchange, where they trade under the symbol: DFCU.
On Friday 25 July 2014, DFCU Bank acquired some of the assets and liabilities of the former Global Trust Bank, 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 are valued at about UGX:73 billion (approximately US$28 million). Given that data, the total valuation of DFCU Bank's assets, as of July 2014, is about UGX:1.27 trillion, (US$490 million).
With headquarters in Kampala, DFCU Bank has branches in central, eastern, northern and western Uganda. As of November 2014[update], the bank maintains a total of forty-three branches in Uganda. DFCU Bank has also announced plans to expand into the African Great Lakes countries of Kenya, Tanzania, Rwanda, Burundi, as well as South Sudan in the Nile Valley. The bank's branch network includes the following locations, arranged alphabetically: The list includes some branches of the now defunct Global Trust Bank (GTB), whose assets were acquired by DFCU, when GTB collapsed in July 2014.
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'scentral business district, the development has underground and surface parking, as well as rentable, retail and office space on several levels.