United Bank for Africa (Uganda)

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United Bank for Africa (Uganda)
Type Private
Industry Financial Services
Founded 2008
Headquarters Kampala, Uganda
Key people Frans Ojielu
Acting Managing Director[1]
Products Loans, Checking, Savings, Investments, Debit Cards, Credit Cards, Mortgages
Revenue DecreasePretax:US$863,000 (UGX:2.1 billion) (2011)
Total assets US$50 million (UGX:29 billion) (2011)
Employees 150+ (2008)[2]
Website Homepage

United Bank for Africa (Uganda) is a commercial bank in Uganda. It is one of the commercial banks licensed by the Bank of Uganda, the central bank and national banking regulator.[3]

Overview[edit]

United Bank for Africa (Uganda) is a commercial bank that focuses on the individual customer, small and medium enterprises (SMEs), as well as large corporations. The Nigeria-based parent company United Bank for Africa Plc., started operations in Uganda with a capital base of US$12 million.[4] The bank's entry into the Ugandan market along with other regional heavyweights including Kenya Commercial Bank and Ecobank Transnational, energized the country's financial sector, increasing competition, resulting in improved customer service across the board.[5]

As of December 2011, UBA Uganda's total assets were valued at about US$50 million (UGX:122 billion), with shareholders' equity of about US$17.1 million (NGN:2.72 billion)[6]

History[edit]

The bank commenced operations in May 2008, starting with the opening of the main branch on Jinja Road, in Kampala, Uganda's capital and largest city. Within the first six months, the bank quickly established four branches within Kampala and its suburbs. During the following six months, the bank expanded its network by adding two upcountry branches, one in Jinja, about 86 kilometres (53 mi), east of Kampala, and the other in Mbale, a city located about 200 kilometres (120 mi), by road, northeast of the capital.[7] Later, the bank opened two more branches; one in Fort Portal and another in Mbarara, both in Western Uganda. In September 2010, UBA Uganda joined the Bankcom Interbank Switch Network. At that time, the network, which had in excess of 200,000 user customers, was loaded on to about 80 ATMs and was used by six Ugandan commercial banks, namely: Cairo International Bank, DFCU Bank, Guaranty Trust Bank, Orient Bank, Finance Trust Bank and United Bank for Africa.

Ownership[edit]

United Bank for Africa (Uganda) is a wholly owned subsidiary of United Bank for Africa, headquartered in Lagos, Nigeria, with presence in 20 African countries, as well as the United Kingdom, France and the United States.[8]

Branch Network[edit]

As of May 2014, the bank maintains branches at the following locations: [9]

  1. Spear House Branch - Spear House, 22 Jinja Road, Kampala Main Branch
  2. Prestige Branch - Spear House, 22 Jinja Road, Kampala
  3. William Street Branch - 17B William Street, Kampala
  4. Kansanga Branch - 2577 Ggaba Road, Block 244, Kansanga, Kampala
  5. Ndeeba Branch - 122 Masaka Road, Ndeeba, Kampala
  6. Mukono Branch - 11 Kampala Road, Mukono
  7. Jinja Branch - 5 Lady Alice Muloki Road, Jinja
  8. Mbale Branch - 1-3 Manafwa Road, Mbale
  9. Fort Portal Branch - 8 Ruhandika Street, Fort Portal
  10. Mbarara Branch - 94 High Street, Mbarara

Governance[edit]

All the Directors of the bank are not publicly known as of May 2014. Frans Ojielu, who replaced Margaret Mwanakatwe as the Managing Director of the bank is a member of the Board of Directors, and leads the management team. In June 2011, Mwanakatwe moved to the bank's headquarters in Lagos, Nigeria, to serve as Director of Business Development for Anglophone Africa at UBA.[10]

See also[edit]

References[edit]

  1. ^ Newvision, Archive (19 June 2011). "United Bank for Africa To Get New Managing Director". New Vision. Retrieved 2 May 2014. 
  2. ^ Muyodi, John. "United Bank for Africa Licensed to Start Operations In Uganda". http://www.Ugee.com. Retrieved 2 May 2014. 
  3. ^ "List of Licensed Commercial Banks In Uganda As of 2012". Bank of Uganda. Retrieved 2 May 2014. 
  4. ^ Kabuubi, Ronald (20 November 2008). "United Bank of Africa Invests US$12 Million". New Vision. Retrieved 2 May 2014. 
  5. ^ Editor, 2 (24 February 2014). "Is There Space For More Banks In Uganda?". Summit Business Review. Retrieved 2 May 2014. 
  6. ^ UBA (2012). "31 December 2011 UBA Group Financial Report". United Bank for Africa. Retrieved 2 May 2014. 
  7. ^ Owor, Mark (23 December 2008). "United Bank of Africa Goes To Mbale". New Vision. Retrieved 2 May 2014. 
  8. ^ UBA, . (2014). "UBA Plc. Has Banking Subsidiaries In Over Twenty African Countries". UBA. Retrieved 2 May 2014. 
  9. ^ "List of UBA Branches In Uganda". UBA. Retrieved 2 May 2014. 
  10. ^ Newvision, Archive (19 June 2011). "Margaret Mwanakatwe Promoted to Director of Aglophone Africa Business At UBA Plc.". New Vision. Retrieved 2 May 2014. 

External links[edit]