Finance Trust Bank

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Finance Trust Bank
Private
Industry Financial Services
Founded 1984
Key people
Irene Muloni
Chairperson
Annet Nakawunde Mulindwa
Chief Executive Officer[1]
Products Loans, Savings
Revenue Increase Aftertax:US$955,500 (2014)
Total assets US$44.03 million (2014)[2]
Number of employees
540 (2014)
Website Homepage

Finance Trust Bank (FTB), commonly called Finance Trust, is a commercial bank in Uganda. It is licensed by the Bank of Uganda, the central bank and national banking regulator.[3]

Location[edit]

The headquarters of FTB are located on Plot 121 & 115, Block 6, Finance Trust Building, Katwe, in the central business district of Kampala, Uganda's capital city. The coordinates of the institution's headquarters are: Latitude:0.3020; Longitude:32.5765.

History[edit]

FTB was founded in 1984 as Uganda Women's Finance Trust Limited. The objective was to provide financial services to low income people in Uganda, especially women. It is one of the oldest microfinance companies in the county.[4] Subsequently, the institution rebranded to Uganda Finance Trust Limited, a Tier III financial institution, recognized as a Microfinance Deposit-taking Institution under the supervision of the Bank of Uganda.[5] On 11 November 2013, the Bank of Uganda] granted the bank a full commercial banking license. The institution then rebranded to its current name.[6]

Overview[edit]

As of December 2014, FTB serviced nearly 370,000 deposit accounts through a network of 33 interconnected branches, located in all regions of the country. The bank's total customer deposits were about US$28.73 million. At that time, the bank maintained 27,636 loan accounts with a total loan portifolio of US$28.2 million. Total bank assets at that time were about US$44.03 million, with shareholders' equity of approximately US$12.3 million.[2]

Ownership[edit]

The stock ownership of the institution as of December 2011 is summarized in the table below. The shareholding, as of March 2015, is not publicly known.

Finance Trust Bank Stock Ownership
Rank Name of Owner Percentage Ownership
1 Oikocredit (Netherlands) 24.1
2 Investment & Partner (France) 20.5
3 Uganda Women's Finance Trust (Uganda) 29.8
4 Ugandan Women Entrepreneurs (Uganda) 13.5
5 Sun Mutual Cooperative Society (Uganda) 12.1
Total 100.0

Branch network[edit]

As of May 2015, FTB maintains a network of 34 interconnected branches at the following locations:[7]

  1. Main Branch - Katwe Road, Katwe, Kampala
  2. Arua Branch - Arua
  3. Bombo Road Branch - Bombo Road, Kampala
  4. Bugiri Branch - Grant Street, Bugiri
  5. Busia Branch - Custom Road, Busia
  6. Entebbe Branch - Kampala Road, Entebbe
  7. Fort Portal Branch - Rukidi III Street, Fort Portal
  8. Gomba Branch - Kanoni, Gomba District
  9. Iganga Branch - Main Street, Iganga
  10. Ishaka Branch - Rukungiri Road, Ishaka
  11. Jinja Branch - Iganga Road, Jinja
  12. Kalangala Branch - Kalangala
  13. Kalerwe Branch - Kaleerwe, Kampala
  14. Kampala Road Branch - Kampala Road, Kampala
  15. Kamuli Branch - Kitimbo Road, Kamuli
  16. Kamwenge Branch - Station Road, Kamwenge
  17. Kapchorwa Branch - 46 Kapchorwa Road, Kapchorwa
  18. Kayunga Branch - Main Street, Kayunga
  19. Kijura Branch - Kijura sub-county, Kabarole District[8]
  20. Kikuubo Branch - Nakivubo Road, Kampala
  21. Kitintale Branch - Kitintale - Kampala[9]
  22. Kumi Branch - Ngora Road, Kumi
  23. Lugazi Branch - Kampala-Jinja Highway, Lugazi
  24. Lwengo Branch - Mabiriizi, Lwengo District
  25. Masaka Branch - Edward Avenue, Masaka
  26. Mbale Branch - Republic Street, Mbale
  27. Mbarara Branch - High Street, Mbarara
  28. Mukono Branch - Kampala-Jinja Highway, Mukono
  29. Nakivubo Branch - 30-32 Mackay Road, Freeman Foundation Building, Kampala
  30. Nansana Branch - Hoima Road, Nansana
  31. Nateete Branch - Masaka Road, Nateete
  32. Ntungamo Branch - Old Kabale Road, Ntungamo
  33. Owino Branch - Kafumbe Mukasa Road, Kampala
  34. Pallisa Branch - Kasodo Road, Pallisa
  35. Soroti Branch - Solot Avenue, Soroti
  36. Tororo Branch - Bazaar Street, Tororo

Governance[edit]

Irene Muloni is the chairperson of the board of directors. She is also the Minister of Energy, Oil & Minerals in the Cabinet of Uganda. She is one of the non-executive directors of the bank. There are seven other board members, including Annet Nakawunde Mulindwa, the managing director and Dennis Kakeeto, the only other executive director on the board.[10]

See also[edit]

References[edit]

  1. ^ "The Senior Management Team At Finance Trust Bank". Finance Trust Bank. Retrieved 3 May 2014. 
  2. ^ a b MMO, . (31 December 2014). "MFI Report: Finance Trust Bank - 31 December 2014 Financial Data". Mixmarket.org (MMO). Retrieved 17 March 2015. 
  3. ^ "List of Licensed Commercial Banks In Uganda At December 2013" (PDF). Bank of Uganda. Retrieved 3 May 2014. 
  4. ^ "Trust Finance Bank Corporate Profile". Trust Finance Bank. Retrieved 3 May 2014. 
  5. ^ Ssempijja, David (21 February 2011). "Banks Advised To Embrace Technology". New Vision. Retrieved 3 May 2014. 
  6. ^ Mugabe, David (22 December 2013). "Banking Remains Attractive With Finance Trust As Latest Entrant". New Vision. Retrieved 3 May 2014. 
  7. ^ "Trust Finance Bank Branch List". Trust Finance Bank. Retrieved 22 May 2015. 
  8. ^ Twaha, Ali (20 May 2015). "Uganda: Finance Trust Takes Banking Products To Kijura Residents". The Observer (Uganda) via AllAfrica.com. Retrieved 22 May 2015. 
  9. ^ Ondoga, Ayiga (12 November 2010). "Bankers Urged On Competitiveness". New Vision. Retrieved 3 May 2014. 
  10. ^ "The Finance Trust Bank Board of Directors". Finance Trust Bank. Retrieved 3 May 2014. 

External links[edit]

Coordinates: 00°19′10″N 32°34′25″E / 0.31944°N 32.57361°E / 0.31944; 32.57361