|Type||Public: USE: DFCU|
|Headquarters||2 Jinja Road
|Key people||Elly Karuhanga
|Products||Loans, checking, savings, investments, debit cards, credit cards, mortgages|
|Revenue||Aftertax: US$13.8 million (UGX:34.8 billion) (2013)|
|Total assets||US$474.4 million (UGX:1.197 billion) (2013)|
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$474.4 million (UGX:1.197 billion) as of December 2013[update], representing about 7% of all bank assets in Uganda, with shareholders' equity of 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 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
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 Group ownership
As of April 2013[update], 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: