Finance Trust Bank

From Wikipedia, the free encyclopedia
  (Redirected from Uganda Finance Trust Limited)
Jump to: navigation, search
Finance Trust Bank
Type Private
Industry Financial Services
Founded 1984
Headquarters Plot 121 & 115, Block 6,
Finance Trust Building,
Katwe, Kampala, Uganda
Key people Irene Muloni
Chairperson
Annet Nakawunde Mulindwa
Chief Executive Officer[1]
Products Loans, Savings
Revenue Increase Aftertax:US$700,000+ (UGX:1.74 billion) (2013)
Total assets US$37 million (UGX:92.3 billion) (2013)
Employees 312 (2010)
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.[2]

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 (UWFTL). 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.[3] Subsequently, the institution rebranded to Uganda Finance Trust Limited (UFTL), a Tier III Financial Institution, recognized as a Microfinance Deposit-taking Institution (MDI), under the supervision of the Bank of Uganda.[4] On 11 November 2013, the Bank of Uganda granted the bank a full commercial banking license. The institution then rebranded to its current name.[5]

Overview[edit]

As of December 2013, the institution services nearly 230,000 deposit accounts, through a network of thirty-two interconnected branches, located in all regions of the country. The bank's total customer deposits are valued at about US$17.2 million (UGX:43 billion). The bank maintains about 25,000 loan accounts with a total loan portifolio of US$23.2 million (UGX:58 billion). Total bank assets at that time were valued at about US$37 million (UGX:92.3 billion), with share holders' equity of approximately US$11.7 million (UGX:29.1 billion)[6]

Ownership[edit]

The stock ownership of the institution as of December 2011 is summarized in the table below. The shareholding, as of May 2014, is not publicly known.

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

Branch Network[edit]

As of May 2014, the bank maintains a network of thirty-three 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. Iganga Branch - Main Street, Iganga
  9. Ishaka Branch - Rukungiri Road, Ishaka
  10. Jinja Branch - Iganga Road, Jinja
  11. Kalangala Branch - Kalangala
  12. Kalerwe Branch - Kaleerwe, Kampala
  13. Kampala Road Branch - Kampala Road, Kampala
  14. Kamuli Branch - Kitimbo Road, Kamuli
  15. Kamwenge Branch - Station Road, Kamwenge
  16. Kapchorwa Branch - 46 Kapchorwa Road, Kapchorwa
  17. Kayunga Branch - Main Street, Kayunga
  18. Kikuubo Branch - Nakivubo Road, Kampala
  19. Kitintale Branch - Kitintale - Kampala[8]
  20. Kumi Branch - Ngora Road, Kumi
  21. Lugazi Branch - Kampala-Jinja Highway, Lugazi
  22. Masaka Branch - Edward Avenue, Masaka
  23. Mbale Branch - Republic Street, Mbale
  24. Mbarara Branch - High Street, Mbarara
  25. Mukono Branch - Kampala-Jinja Highway, Mukono
  26. Nakivubo Branch - 30-32 Mackay Road, Freeman Foundation Building, Kampala
  27. Nansana Branch - Hoima Road, Nansana
  28. Nateete Branch - Masaka Road, Nateete
  29. Ntungamo Branch - Old Kabale Road, Ntungamo
  30. Owino Branch - Kafumbe Mukasa Road, Kampala
  31. Pallisa Branch - Kasodo Road, Pallisa
  32. Soroti Branch - Solot Avenue, Soroti
  33. Tororo Branch - Bazaar Street, Tororo

Governance[edit]

The Chairperson of the Board of Directors is Irene Muloni, the current Minister of Energy, Oil & Minerals in Uganda's Cabinet. 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.[9]

See also[edit]

References[edit]

  1. ^ "The Senior Management Team At Finance Trust Bank". Finance Trust Bank. Retrieved 3 May 2014. 
  2. ^ "List of Licensed Commercial Banks In Uganda At December 2013". Bank of Uganda. Retrieved 3 May 2014. 
  3. ^ "Trust Finance Bank Corporate Profile". Trust Finance Bank. Retrieved 3 May 2014. 
  4. ^ Ssempijja, David (21 February 2011). "Banks Advised To Embrace Technology". New Vision. Retrieved 3 May 2014. 
  5. ^ Mugabe, David (22 December 2013). "Banking Remains Attractive With Finance Trust As Latest Entrant". New Vision. Retrieved 3 May 2014. 
  6. ^ "31 December 2013 Audited Financial Report". Finance Trust Bank. Retrieved 3 May 2014. 
  7. ^ "Trust Finance Bank Branch List". Trust Finance Bank. Retrieved 3 May 2014. 
  8. ^ Ondoga, Ayiga (12 November 2010). "Bankers Urged On Competitiveness". New Vision. Retrieved 3 May 2014. 
  9. ^ "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