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Type Public: USE: DFCU
Industry Financial Services
Founded 1964
Headquarters 2 Jinja Road
Kampala, Uganda
Key people Elly Karuhanga
Juma Kisaame
Managing Director
Products Loans, checking, savings, investments, debit cards, credit cards, mortgages
Revenue IncreaseAftertax: US$13.8 million (UGX:34.8 billion) (2013)
Total assets US$474.4 million (UGX:1.197 billion) (2013)
Employees 476 (2011)[1]
Website www.dfcugroup.com

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.[2]


DFCU Bank is a major player in the financial sector, with an estimated asset base of nearly US$474.4 million (UGX:1.197 billion) as of December 2013, representing about 7% of all bank assets in Uganda, with shareholders' equity of approximately US$57 million (UGX:143.6 billion).[3] In 2013, the bank was the fifth-largest commercial bank in Uganda, by assets.[4]


DFCU Bank was established in 1964 as a development finance company; Development Finance Company of Uganda. In 2000, DFCU acquired the assets of Gold Trust Bank, a commercial bank that had failed. DFCU transformed 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.

DFCU Bank ownership[edit]

DFCU Bank is a subsidiary of DFCU Group, which includes the following companies:

  • DFCU Limited
  • DFCU Bank
  • DFCU Leasing Limited
  • Rwenzori Properties Limited
  • Nakasero Properties Limited

DFCU Limited is the holding company and is listed on the Uganda Securities Exchange, where it trades, under the symbol DFCU.[5]

DFCU Group ownership[edit]

As of April 2013, Actis, which at that time owned 60.02% 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 are concluded, the stock ownership in the company will look as depicted in the table below:[6]

DFCU Group Stock Ownership
Rank Name of owner Percentage ownership
1 Norfund 27.54
2 Rabobank 27.54
3 CDC Group Plc. 15.00
4 National Social Security Fund (Uganda) 5.93
5 Investec Asset Management Fund Africa 4.34
6 Investec Asset Management Pan Africa Fund 2.73
7 Investec Asset Management 1.14
8 Central Bank of Kenya Pension Fund 0.76
9 PineBridge Sub-Saharan Africa Equity Master Fund 0.65
10 Dyer & Blair Investment Bank 0.63
11 Bank of Uganda Staff Retirement Fund 0.58
12 Nearly 3,800 Other Investors 13.16
Total 100.00

Branch network[edit]

With headquarters in Kampala, DFCU Bank has branches in central, eastern, northern and western Uganda. As of October 2013, the bank had opened a total of thirty 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:[7]

  1. Abim Branch - Abim
  2. Acacia Branch - 24 Acacia Avenue, Kololo, Kampala
  3. Agago Branch - Agago
  4. Arua Branch - 6 Hospital Road, Arua
  5. Bugoloobi Branch - Kagga House, 2 Bandali Rise, Bugoloobi, Kampala
  6. Dokolo Branch - Bata Road, Dokolo
  7. Entebbe Road Branch - Freedom City Mall, Namasuba, Kampala
  8. Gulu Branch - 3 Princess Road, Gulu
  9. Hoima Branch - Kasangaki Building, 58 Main Street, Hoima
  10. Impala House Branch - Impala House, 13 Kimathi Avenue, Kampala
  11. Isingiro Branch - 36, Kikagate Road, Isingiro[8]
  12. Jinja Branch - 10 Lady Alice Muloki Road, Jinja[9]
  13. Jinja Road Branch - 2 Jinja Road, Jinja Road, Kampala Main Branch
  14. Kawempe Branch - Kampala-Gulu Highway, Kawempe, Kampala
  15. Kikuubo Branch - Kikuubo Arcade, Kampala
  16. Kitgum Branch - 19 Janan Luwum Street, Kitgum
  17. Lira Branch - 4 Soroti Road, Lira
  18. Lugogo Branch - Lugogo Mall, Kampala
  19. Makerere Branch - 45 Pool Road, Makerere University Campus
  20. Market Street Branch - 13 Market Street, Kampala
  21. Masaka Branch - 22 Kampala Road, Masaka
  22. Mbale Branch - 2 Court Road, Mbale
  23. Mbarara Branch - 73 High Street, Mbarara[10]
  24. Naalya Branch - Quality Shopping Mall, Naalya
  25. Ndeeba Branch - 224 Masaka Road, Ndeeba, Kampala
  26. Nsambya Branch - Ggaba Road, Nsambya, Kampala
  27. Ntinda Branch - Capital Shoppers City, Ntinda Road, Ntinda, Kampala
  28. Owino Market Branch - Kafumbe Mukasa Road, Kampala
  29. Pader Branch - 8 Lagwai Zone B, Pader
  30. William Street Branch - 8 William Street, Kampala

DFCU House[edit]

DFCU Group is in the process of building its new headquarters, which will also house the main branch of DFCU Bank. The building will be known as DFCU House and will rise an estimated ten stories high. Located at 26 Kyaddondo Road, on Nakasero Hill, in Kampala's central business district, the development will have underground and surface parking, as well as rentable, retail and office space on several levels.[11]

External links[edit]

See also[edit]


  1. ^ "Number of Full Time Employees In December 2011". CreditRiskMonitor(CRMZ). Retrieved 30 April 2014. 
  2. ^ "List of Licensed Commercial Banks In Uganda". Bank of Uganda. Retrieved 30 April 2014. 
  3. ^ "DFCU Group Extract of Consolidated Financial Statements For The Year Ended 31 December 2013". Investinginafrica.net. Retrieved 4 June 2014. 
  4. ^ Shareholding Among Ugandan Commercial Banks Based On Assets In December 2013
  5. ^ "DFCU Profile At Uganda Securities Exchange Website". Uganda Securities Exchange. Retrieved 30 April 2014. 
  6. ^ "Dutch Bank Seals DFCU Merger". New Vision via Pesatimes.com. Retrieved 30 April 2014. 
  7. ^ "DFCU Bank Branch Network In October 2013". DFCU Group. Retrieved 30 April 2014. 
  8. ^ Sanya, Wilfred (17 November 2009). "Isingiro District Gets First Bank". New Vision. Retrieved 30 April 2014. 
  9. ^ Ssejjoba, Eddie. "DFCU In Jinja". New Vision. Retrieved 30 April 2014. 
  10. ^ Sanya, Wilfred (26 January 2009). "DFCU Bank Opens Branch In Mbarara, Focuses On Regional Expansion". New Vision. Retrieved 30 April 2014. 
  11. ^ "Kampala: Introducing the DFCU House". Symbion Group Plc. Retrieved 30 April 2014.