Ecobank (Uganda)

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Ecobank (Uganda)
Type Public Company
GSE: ETI
Industry Financial Services
Founded 2009
Headquarters Kampala, Uganda
Key people Henry Lubwama
Chairman
Micheal Monari
Managing Director
Products Loans, Savings, Investments, Debit Cards, Credit Cards, Mortgages
Revenue DecreasePretax:US$4.6 million (UGX:11.5 billion) (2012)
Total assets US$66.1 million (UGX:164.4 billion) (2012)
Website Homepage

Ecobank (Uganda) is a commercial bank in Uganda. It is one of the commercial banks licensed by Bank of Uganda, the central bank and national banking regulator.[1]

Overwiew[edit]

The bank began operations in January 2009 as a full-service bank providing wholesale, retail, investment and transaction banking services and products to governments, financial institutions, multinationals, international organizations, medium, small and micro businesses and individuals. According to available financial reports, as of December 2012, the bank's total assets were valued at about US$66.1 million (UGX:164.4 billion), with shareholders' equity of approximately US$6.3 million (UGX:15.9 billion).* Source: Audited 31 December 2012 Financial Report.

Ecobank network[edit]

Ecobank (Uganda) is a member of Ecobank Transnational, the leading independent pan-African bank, headquartered in Lomé, Togo with affiliates in West Africa, Central Africa, East Africa and Southern Africa. Ecobank, which was established in 1985, has grown to a network of over 600 branches, employing over 10,000 people, with offices in 33 countries including Benin, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Republic of Congo, Democratic Republic of Congo, Equatorial Guinea, France, Gabon, Ghana, Guinea, Guinea Bissau, Ivory Coast, Kenya, Liberia, Malawi, Mali, Niger, Nigeria, Rwanda, Sao Tome, Senegal, Sierra Leone, South Sudan, Tanzania, The Gambia, Togo, Uganda, Zambia and Zimbabwe.[2] Ecobank Transnational also maintains representative offices in the following countries: 1. Angola 2. China 3. Ethiopia 4. South Africa and 5. United Arab Emirates.[3]

Parent company[edit]

Ecobank Transnational Inc. (ETI) is the parent company of the Ecobank Group which includes the following specialized subsidiaries:[4]

The stock of ETI is traded on three African stock exchanges, namely; the Ghana Stock Exchange (GSE), the Nigerian Stock Exchange (NSE) and the BRVM stock exchange in Abidjan, Ivory Coast.

Ownership[edit]

The exact percentage share ownership of Ecobank (Uganda) is not publicly known but Ecobank Transnational owns a significant portion of the shares of the company. Other investors include Charles Mbire, a Director of the bank and according to press reports, the wealthiest indigenous Ugandan with a net worth in excess of US$200 million in 2012.[5]

Board of directors[edit]

The following individuals sit on the Board of Directors of Ecobank (Uganda): [6]

Management team[edit]

Micheal Monari is the Managing Director of Ecobank (Uganda). He was appointed to that position in October 2011, replacing Dele Alabi, who was relocated to Ecobank Nigeria.[7]

Branch Network[edit]

As of May 2014, Ecobank Uganda maintained networked branches at the following locations:[8]

  1. Bombo Road Branch - Bombo Road, Kampala
  2. Bugema Branch - Bugema University, Gayaza-Ziroobwe Road[9]
  3. Entebbe Airport Branch - Entebbe International Airport
  4. Lugogo Branch - Forest Mall, 3A2 & 3A3 Sports Lane, Lugogo, Kampala
  5. Head Office Branch - Parliament Avenue, Kampala
  6. Jinja Branch - Jinja[10]
  7. Kikuubo Branch - Nakivubo Road, Kampala
  8. Kyambogo University Branch - Kyambogo University Campus, Kyambogo
  9. Mukono Branch - Jinja Road, Mukono
  10. Nakasero Branch - Rwenzori Towers, Nakasero Road, Nakasero, Kampala
  11. Ndeeba Branch - Masaka Road, Ndeeba, Kampala
  12. Oasis Mall Branch - Oasis Mall, Yusuf Lule Road, Kampala
  13. Wandegeya Branch - Bombo Road, Wandegeya, Kampala[11]

New branches are planned in Mbale, Arua, Mbarara and Gulu.[12] A branch is planned in Amuru in Northern Uganda, but has not been opened as of May 2014.[13]

Photos[edit]

See also[edit]

References[edit]

  1. ^ "List of Licensed Commercial Banks In Uganda". Bank of Uganda. Retrieved 3 May 2014. 
  2. ^ "The Ecobank Worldwide Network". Ecobank Transnational. Retrieved 3 May 2014. 
  3. ^ "List of Worldwide Ecobank Representative Offices". Ecobank Transnational. Retrieved 3 May 2014. 
  4. ^ "Ecobank Specialised Subsidiaries". Ecobank Transnational. Retrieved 3 May 2014. 
  5. ^ Michael Kanaabi, Ssebidde Kiryowa (2012). "The Deepest Pockets". New Vision. Retrieved 3 May 2014. 
  6. ^ "The Board of Directors At Ecobank Uganda". Ecobank. Retrieved 3 May 2014. 
  7. ^ Nantaba, Eriosi (17 October 2011). "East Africa: Eco Bank Has New Managing Director". East Africa Business Week via AllAfrica.com. Retrieved 3 May 2014. 
  8. ^ "List of Ecobank Uganda Branches". Ecobank Uganda. Retrieved 3 May 2014. 
  9. ^ Ecobank Uganda Opens 10th Branch At Bugema University
  10. ^ Mwesigwa, Alon (15 January 2014). "Uganda: Ecobank Opens Jinja Branch". The Observer (Uganda) via AllArica.com. Retrieved 3 May 2014. 
  11. ^ Osere, Emojong (7 March 2010). "Bank of Uganda Urges Banks To Go Rural". New Vision. Retrieved 3 May 2014. 
  12. ^ Ogwang, Joel (8 October 2013). "Uganda: 25 Years of Banking in Africa (Ecobank Supplement)". New Vision via AllAfrica.com. Retrieved 3 May 2014. 
  13. ^ Ssempijja, David (25 March 2010). "Uganda: Amuru District To Get First Bank". New Vision via AllAfrica.com. Retrieved 3 May 2014. 

External links[edit]