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ABC Bank (Uganda)

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ABC Bank (Uganda)
Company typePrivate
IndustryFinancial services
Founded1993
HeadquartersColline House
4 Pilkington Road
Kampala, Uganda
Key people
James Wilson Muwanga
chairman
Pooran Chand Kukreja
chief executive officer[1]
ProductsLoans, savings, checking, investments
RevenueIncreaseAftertax: UGX:996.8 million (2015)
Total assetsUGX:49.6 billion (2015)
Number of employees
44 (2012)
WebsiteHomepage

ABC Bank (Uganda), whose full name is ABC Capital Bank Uganda Limited, is a commercial bank in Uganda and licensed by the Bank of Uganda, the central bank and national banking regulator.[2]

Overview

The bank provides banking services to large corporations, small-to-medium-sized businesses (SMEs), as well as individuals. As of December 2015, the bank's total assets were valued at about UGX:49.6 billion, with shareholders' equity of about UGX:28.61 billion.[3]

History

ABC Capital Bank was founded in 1992 as Capital Finance Corporation Limited (CFCL), a Tier III Ugandan Financial Institution, under the licensure and supervision of the Bank of Uganda. In 1999, CFCL established a wholly owned subsidiary, CFC Forex Bureau. In 2008, CFCL signed a memorandum of understanding with ABC Bank (Kenya), identifying the Kenyan institution as a strategic investor in CFCL in the latter's efforts to transform into a commercial bank. On 26 February 2010, following the acquisition of a commercial banking license from the Bank of Uganda, CFCL rebranded as ABC Capital Bank.[4]

Ownership

ABC Bank (Kenya) is an investor in ABC Bank (Uganda).[5] As of July 2016, the shareholding in ABC Capital Bank, is summarized in the table below:

ABC Bank (Uganda) Stock Ownership
Rank Name of Owner Percentage Ownership
1 ABC Bank (Kenya) 68.0
2 Others 32.0
Total 100.0

Branch network

As of July 2016, ABC Bank (Uganda) maintained networked branches at the following locations:[3]

  1. Main Branch - Colline House, 4C Pilkington Road, Kampala
  2. Luwum Street Branch - Pioneer Mansion, 11 Luwum Street, Kampala
  3. Kikuubo Branch - Fami Plaza, 21 Nakivubo Road, Kampala
  4. Arua Park Branch - Arua Park Mall, 5 Wilson Road, Kampala

See also

References

  1. ^ ABCBU (31 December 2015). "Members of Board of Directors". Kampala: ABC Capital Bank Uganda (ABCBU). Retrieved 26 April 2014. {{cite web}}: Cite has empty unknown parameter: |1= (help)
  2. ^ BOU (March 2016). "List of Licensed Commercial Banks As At March 2016" (PDF). Kampala: Bank of Uganda (BOU). Retrieved 26 July 2016.
  3. ^ a b ABCBU (31 December 2015). "Audited Financial Report for Year Ending 31 December 2015". Kampala: ABC Bank Uganda (ABCBU). Retrieved 26 July 2016.
  4. ^ ABCCB (26 July 2016). "History of ABC Capital Bank". Kampala: ABC Capital Bank (ABCCB). Retrieved 26 July 2016.
  5. ^ Mbanga, Jeff (12 November 2008). "Kenyan bank set to buy Capital Finance". The Observer (Uganda). Kampala. Retrieved 26 July 2016.
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