PTA Bank

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Eastern and Southern African Trade and Development Bank
Type Private
Industry Finance
Founded 1985
Headquarters Chaussée Prince Louis,
Rwagasore
Bujumbura, Burundi
Key people Oliver Saasa
Chairman
Admassu Yilma Tadesse
President & CEO[1]
Products International Trade and Development Finance
Revenue Increase Net US$66.63+ million (2013)
Total assets US$2.53+ billion (2013)
Owner(s) Governments of
COMESA
AfDB
China
Website Homepage

Preferential Trade Area Bank, commonly known as the PTA Bank, is a trade and development financial institution in Africa. The PTA Bank is the financial arm of COMESA, but membership is open to non-COMESA States and other institutional shareholders.[2]

Overview[edit]

As of December 2013, the bank was a large financial institution with an asset base in excess of US$2.53 billion. The bank had 20 shareholders, with shareholders' funds of nearly US$477 million.[3]

History[edit]

The Eastern and Southern African Trade and Development Bank, also known as PTA Bank, was established on 6 November 1985 following the provisions of the Treaty of 1981 establishing the Preferential Trade Area (PTA), which has since been transformed into the Common Market for Eastern and Southern Africa (COMESA), as a financial arm of the integration arrangement.[4]

Shareholders[edit]

The PTA Bank membership comprises eighteen member states, seventeen of which are COMESA members. China was the first non-regional member state to join the PTA Bank in 2000. The African Development Bank (AfDB) is the sole institutional shareholder. Both China and the AfDB each have a 12.3% shareholding in the PTA Bank. As of May 2009, the following countries and institutions are shareholders in PTA Bank.[5]

Location[edit]

The headquarters of PTA Bank are located at: Chaussée Prince Louis, Rwagasore, Bujumbura, Burundi.[6] The bank also maintains a regional office at 22nd and 23rd Floor, NSSF Building, Bishops Road, Nairobi, Kenya, The other regional office of the bank is located at 13th Floor, Social Security Centre, Harare, Zimbabwe. The Nairobi office is responsible for the northern region of the banks geographical area of service. The Bujumbura Headquarters office is responsible for the central region of the bank's service area. The Harare office is responsible for the southern service area, including the islands of Mauritius and Seychelles.

Board of Governors[edit]

As of May 2014, the following are the members of the Board of Governors of the PTA Bank:[7]

  1. Gilbert Mbeshrubusa: Acting Vice President of Infrastructure, Private Sector and Regional Integration - African Development Bank
  2. Tabu Abdallah Manirakiza: Minister of Finance - Burundi
  3. Mohamed Soilihi: Minister of Finance - Comoros
  4. Matata Ponyo Mapon: Governor for DRC - DRC
  5. Ilyas Moussa Dawaleh: Minister of Finance - Djibouti
  6. Engineer Hapem Saleh: Minister of Foreign Trade & Industry - Egypt
  7. Berhane Abrehe: Minister of Finance - Eritrea
  8. Sufian Ahmed: Minister of Finance and Economic Planning - Ethiopia
  9. Phyllis Kipkingor Kandie: Cabinet Secretary for Commerce, East African Affairs and Tourism - Kenya
  10. Maxwell Mkwe Zalamba: Minister of Finance - Malawi
  11. Charles Gaetan Xavier-Luc Duval: Minister of Finance and Economic Development - Mauritius Chairman of the Board of Governors.
  12. Dr. Zhou Xiaochuan: Governor, People's Bank of China - China
  13. John Rwangombwa: Minister of Finance and Economic Planning - Rwanda
  14. Pierre Laporte: Minister of Finance - Seychelles
  15. Dr. Awad Ahmed Aljazeir Ahmed Hassan: Minister of Finance & National Economy - Sudan
  16. Mrs. Saada Mkuya Salum: Minister for Finance and Planning - Tanzania
  17. Maria Kiwanuka: Minister of Finance, Planning and Economic Development - Uganda
  18. Alexander B. Chikwanda: Minister of Finance - Zambia
  19. Patrick Chinamasa: Minister for Finance - Zimbabwe

Board of Directors[edit]

The following are the members of the Board of Directors At May 2014.[8]

Management team[edit]

As of May 2014, the bank had one CEO, who was assisted by 16 senior managers in running the day-to-day affairs of he bank.[9]

Credit Rating[edit]

In June 2012, PTA Bank was rated Ba1 by Moody's Rating Services.[10] In October 2013, Fitch Ratings upgraded Eastern and Southern African Trade and Development Bank's (PTA Bank) Long-term Issuer Default Rating (IDR) to 'BB' from 'BB-'.[11]

See also[edit]

References[edit]

  1. ^ Nation, Writer (12 January 2012). "East Africa: Comesa's Regional Bank Gets New Chief Executive". Daily Nation via AllAfrica.com. Retrieved 23 May 2014. 
  2. ^ Ngunjiri, Philip (2 May 2009). "PTA Bank Gets BB- Rating". The EastAfrican. Retrieved 23 May 2014. 
  3. ^ PTA, Bank (31 December 2013). "Audited December 2013 Annual Report". PTA Bank. Retrieved 23 May 2014. 
  4. ^ PTA, Bank (2012). "The History of PTA Bank". PTA Bank. Retrieved 23 May 2014. 
  5. ^ PTA, Bank (2013). "Shareholders In PTA Bank". PTA Bank. Retrieved 23 May 2014. 
  6. ^ Doya, David Malingha (20 May 2014). "PTA Bank to Raise $300 Million in Syndicated Loan This Year". Bloomberg BusinessWeek. Retrieved 23 May 2014. 
  7. ^ PTA, Bank (2013). "Board of Governor At May 2014". PTA Bank. Retrieved 23 May 2014. 
  8. ^ PTA, Bank (2013). "PTA BANK Board of Directors At May 2014". PTA Bank. Retrieved 23 May 2014. 
  9. ^ PTA, Bank (2014). "Senior Managers At PTA Bank". PTA Bank. Retrieved 23 May 2014. 
  10. ^ Gachiri, John (27 June 2012). "Moody’s Says PTA Bank’s Liquidity Strong". Business Daily Africa (Nairobi). Retrieved 23 May 2014. 
  11. ^ ., . (4 October 2014). "RPT-Fitch Upgrades PTA Bank to 'BB'; Outlook Stable". Reuters. Retrieved 23 May 2014. 

External links[edit]