Finance Trust Bank

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Finance Trust Bank
Private
Industry Financial services
Founded 1984; 34 years ago (1984)
Headquarters Plot 121 & 115, Block 6,
Finance Trust Building,
Katwe, Kampala, Uganda
Key people
Evelyn Kigozi Kahiigi
Chairperson[1]
Annet Nakawunde Mulindwa
CEO[1]
Products Loans, savings
  • Increase UGX:2.374+ billion (2017)
  • UGX:1.41 billion (2016)
[2]
Total assets
  • Increase UGX:178.8 billion (2017)
  • UGX:166.3 billion (2016)
[2]
Number of employees
610 (2015)
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 Division of Kampala, Uganda's capital city. The coordinates of the institution's headquarters are 0°18'08.0"N, 32°34'35.0"E (Latitude:0.302223; Longitude:32.576403).[4]

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.[5][6] Sixty percent of the bank's customers are women.[7] 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.[8] On 11 November 2013, the Bank of Uganda granted the bank a full commercial banking license. The institution then rebranded to its current name.[9]

Overview[edit]

As of December 2016, FTB serviced over 470,000 deposit accounts through a network of 36 interconnected branches, located in all regions of the country. The bank's total customer deposits were UGX:78.4 billion.[10]

As of 31 December 2017, the bank's total assets were valued at UGX:178.78 billion (approx. US$48.5 million), with shareholders' equity of UGX:37.72 billion (approx. US$10.2 million).[2]

Ownership[edit]

The stock ownership of the institution as of May 2018 is summarized in the table below.[11]

Finance Trust Bank Stock Ownership
Rank Name of Owner Percentage Ownership
1 Uganda Women's Trust (Uganda) 20.10
2 Oikocredit Ecumenical Development Cooperative Society (Netherlands) 19.60
3 Progression Eastern African Micro Finance Equity Fund (Uganda) 18.30
4 RIF North 1 18.30
5 Investment & Partner Afrique Entrepreneurs (France) 14.20
6 Ugandan Women Entrepreneurs (Uganda) 9.50
Total 100.0

Branch network[edit]

As of August 2016, FTB maintained a network of 36 interconnected branches at the following locations:[12]

  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[13]
  20. Kikuubo Branch - Nakivubo Road, Kampala
  21. Kitintale Branch - Kitintale - Kampala
  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]

Evelyn Kigozi Kahiigi is the chairperson of the board of directors. She is one of the non-executive directors of the bank. There are ten other board members, including Annet Nakawunde Mulindwa, the managing director, and Annette Kiggundu, the only other executive director on the board.[1]

See also[edit]

References[edit]

  1. ^ a b c Finance Trust Bank (17 May 2018). "Finance Trust Bank: About Us: Board of Directors". Kampala: Finance Trust Bank. Retrieved 17 May 2018. 
  2. ^ a b c FTB (26 April 2018). "Summary of Financial Statements for the Year Ended 31 December 2017" (PDF). Kampala: Finance Trust Bank. Retrieved 17 May 2018. 
  3. ^ Bank of Uganda (31 March 2017). "List of licensed Commercial Banks as at March 31, 2017" (PDF). Kampala: Bank of Uganda (BOU). Retrieved 18 August 2017. 
  4. ^ Google (14 November 2016). "Location of the Headquarters of Finance Trust Bank" (Map). Google Maps. Google. Retrieved 14 November 2016. 
  5. ^ TFB. "Trust Finance Bank About Us". Kampala: Trust Finance Bank (FTB). Retrieved 14 November 2016. 
  6. ^ Lyatuu, Justus (11 December 2016). "Uganda: Finance Trust, MTN, Airtel in Mobile Money Deal". The Observer (Uganda) via AllAfrica.com. Kampala. Retrieved 17 August 2017. 
  7. ^ OCO (31 July 2017). "Finance Trust Bank: Banking Services for Women". London: Oikocredit (OCO). Retrieved 18 August 2017. 
  8. ^ Ssempijja, David (21 February 2011). "Banks advised to embrace technology". New Vision. Kampala. Retrieved 14 November 2016. 
  9. ^ Mugabe, David (22 December 2013). "Banking remains attractive with Finance Trust as latest entrant". New Vision. Kampala. Retrieved 14 November 2016. 
  10. ^ Pasha (December 2016). "Avanza upgrades e-infrastructure at Finance Trust Bank Uganda". Karachi: Pasha.org (Pasha). Retrieved 18 August 2017. 
  11. ^ Finance Trust Bank (28 May 2018). "Finance Trust Bank: OwnerShip and Capital Share". Kampala: Finance Trust Bank. Retrieved 28 May 2018. 
  12. ^ FTB (18 August 2017). "Finance Trust Bank: About Us: Branch Network". Kampala: Finance Trust Bank (FTB). Retrieved 18 August 2017. 
  13. ^ Twaha, Ali (20 May 2015). "Uganda: Finance Trust Takes Banking Products to Kijura Residents". The Observer (Uganda) via AllAfrica.com. Retrieved 22 May 2015. 

External links[edit]

Coordinates: 00°18′08″N 32°34′35″E / 0.30222°N 32.57639°E / 0.30222; 32.57639