Guaranty Trust Bank (Uganda)

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Guaranty Trust Bank (Uganda)
Private
Industry Financial services
Founded 2008
Headquarters Kira Road, Kampala, Uganda
Key people
Ramesh Babu
Chairman
Olufemi Martins Omotoso
Managing Director[1]
Products Loans, savings, checking, investments, debit cards, credit cards
Total assets US$30.63 million (2015)
Website Homepage

Guaranty Trust Bank (Uganda), commonly referred to as GT Bank (Uganda), is a commercial bank in Uganda. It is one of the commercial banks licensed by Bank of Uganda, the central bank of that country and the national banking regulator.[2]

Overview[edit]

GT Bank (Uganda) is a retail financial services institution that provides commercial banking services to individuals and small to medium-sized corporate clients. As of December 2011, the asset valuation of the bank was estimated to be US$30.63 million (USh104.9 billion), with shareholders' equity of US$11 million (USh39.7 billion)[3] GT Bank (Uganda) is a subsidiary of Guaranty Trust Bank (GTB), a Nigerian financial services conglomerate with assets in excess of NGN:2,525 billion as of 31 December 2015.[4]

History[edit]

GT Bank (Uganda) was founded in 2008 as Fina Bank (Uganda), a subsidiary of the Fina Bank Group based in Kenya. In 2013, the Group sold 70 percent shareholding to GTB for a cash consideration of US$100 million.[5][6] In January 2014, the bank rebranded to its current name to reflect its current shareholding.[6][7]

Ownership[edit]

As of January 2014, the shareholding in Guaranty Trust Bank (Uganda) is depicted in the table below:[6]

GT Bank (Uganda) Stock Ownership
Rank Name of Owner Percentage Ownership
1 Guaranty Trust Bank 70.00
2 Others 30.00
Total 100.00

Governance[edit]

GT Bank (Uganda) is governed by a nine-person Board of Directors. Ramesh Babu, one of the non-Executive Directors is the Chairman of the Board. Olufemi Martins Omotoso serves as the Managing Director. He is assisted by six other managers in supervising the bank's daily activities.[1]

Branch Network[edit]

As of November 2016, GT Bank Uganda has a network of branches at the following locations:[8] (1) Main Branch: 56 Kira Road, Kamwookya, Kampala (2) Buganda Road Branch: 7 Buganda Road, Kampala (3) Nakivubo Road Branch: 34-38 Nakivubo Road, Kampala (4) Ovino Market Branch: 22 Kisenyi Road, Kampala (5) Industrial Area Branch: 13 Mulwana Road, Kampala[9] (6) Mbarara Branch: 52-54 High Street, Mbarara (7) Kyaliwajjala Branch: 31 Namugongo Road, Kyaliwajjala, Kira Municipality (8) Colville Street Branch: 5-6 Colville Street, Kampala (9) Makerere Branch: Makerere.

See also[edit]

References[edit]

  1. ^ a b GT Bank Uganda (3 November 2016). "The Guaranty Trust Bank Board of Directors". GT Bank Uganda. Retrieved 3 November 2016. 
  2. ^ BOU (June 2015). "List of Licensed Commercial Banks As At June 2015" (PDF). Kampala: Bank of Uganda (BOU). Retrieved 18 December 2015. 
  3. ^ GT Bank Uganda (1 April 2015). "Guaranty Trust Bank (Uganda): Summarised Audited Financial Results for the Year Ended 31 December 2014" (PDF). Guaranty Trust Bank (Uganda). Retrieved 3 November 2016. 
  4. ^ Guaranty Trust Bank Plc (25 February 2016). "Guaranty Trust Bank Plc: Guaranty Trust Bank Group's Audited Results for the Year Ended 31 December 2015" (PDF). Lagos: Guaranty Trust Bank Plc. Retrieved 3 November 2016. 
  5. ^ BDA Reporter (November 2013). "Nigerian lender to buy 70 pc stake in Kenya's Fina bank". Business Daily Africa. Nairobi. Retrieved 3 November 2016. 
  6. ^ a b c "Fina Bank Uganda Sold To Nigerian Bank Group". Kampala. 23 January 2014. Retrieved 3 November 2016. 
  7. ^ Kay, Chris (4 February 2014). "Nigeria's Guaranty Trust Completes Purchase of Kenya's Fina Bank". Bloomberg News. Retrieved 3 November 2016. 
  8. ^ GT Bank Uganda (3 November 2016). "List of GT Bank Uganda Branches". Kampala: GT Bank Uganda. Retrieved 3 November 2016. 
  9. ^ Vision Reporter (1 December 2009). "Fina Bank Targets Industrial Area". New Vision. Retrieved 3 November 2016. 

External links[edit]