Finance Trust Bank
| Company 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 |  Aftertax:US$955,500 (2014) |
| Total assets | US$44.03 million (2014)[2] |
Number of employees | 540 (2014) |
| 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
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, at the corner of Mutesi Road and Katwe Road. The coordinates of the institution's headquarters are 0°18'06.0"N, 32°34'35.0"E (Latitude 0.301667; Longitude:32.576389).[4]
History
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. It is one of the oldest microfinance companies in the county.[5] 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.[6] On 11 November 2013, the Bank of Uganda granted the bank a full commercial banking license.[7] The institution then rebranded to its current name.[8]
Overview
As of December 2014[update], FTB serviced 369,317 deposit accounts through a network of 33 interconnected branches, located in all regions of the country. The bank's total customer deposits were US $28.73 million. At that time, the bank maintained 27,636 loan accounts with a total loan portifolio of US $29.0 million. Total bank assets at that time were about US $44.06 million.[2]
Ownership
The stock ownership of the institution as of December 2011 is summarized in the table below.[9]
| Rank | Name of Owner | Percentage Ownership |
|---|---|---|
| 1 | Oikocredit (Netherlands) | 24.1 |
| 2 | Investment & Partner (France) | 20.5 |
| 3 | Uganda Women's Finance Trust (Uganda) | 29.8 |
| 4 | Ugandan Women Entrepreneurs (Uganda) | 13.5 |
| 5 | Sun Mutual Cooperative Society (Uganda) | 12.1 |
| Total | 100.0 |
Branch network
As of May 2015[update], FTB maintained a network of 34 interconnected branches at the following locations:[10]
- Main Branch - Katwe Road, Katwe, Kampala
- Arua Branch - Arua
- Bombo Road Branch - Bombo Road, Kampala
- Bugiri Branch - Grant Street, Bugiri
- Busia Branch - Custom Road, Busia
- Entebbe Branch - Kampala Road, Entebbe
- Fort Portal Branch - Rukidi III Street, Fort Portal
- Gomba Branch - Kanoni, Gomba District
- Iganga Branch - Main Street, Iganga
- Ishaka Branch - Rukungiri Road, Ishaka
- Jinja Branch - Iganga Road, Jinja
- Kalangala Branch - Kalangala
- Kalerwe Branch - Kaleerwe, Kampala
- Kampala Road Branch - Kampala Road, Kampala
- Kamuli Branch - Kitimbo Road, Kamuli
- Kamwenge Branch - Station Road, Kamwenge
- Kapchorwa Branch - 46 Kapchorwa Road, Kapchorwa
- Kayunga Branch - Main Street, Kayunga
- Kijura Branch - Kijura sub-county, Kabarole District[11]
- Kikuubo Branch - Nakivubo Road, Kampala
- Kitintale Branch - Kitintale - Kampala[12]
- Kumi Branch - Ngora Road, Kumi
- Lugazi Branch - Kampala-Jinja Highway, Lugazi
- Lwengo Branch - Mabiriizi, Lwengo District
- Masaka Branch - Edward Avenue, Masaka
- Mbale Branch - Republic Street, Mbale
- Mbarara Branch - High Street, Mbarara
- Mukono Branch - Kampala–Jinja Highway, Mukono
- Nakivubo Branch - 30-32 Mackay Road, Freeman Foundation Building, Kampala
- Nansana Branch - Hoima Road, Nansana
- Nateete Branch - Masaka Road, Nateete
- Ntungamo Branch - Old Kabale Road, Ntungamo
- Owino Branch - Kafumbe Mukasa Road, Kampala
- Pallisa Branch - Kasodo Road, Pallisa
- Soroti Branch - Solot Avenue, Soroti
- Tororo Branch - Bazaar Street, Tororo
Governance
Irene Muloni is the chairperson of the board of directors. She is also the minister of energy, oil & minerals in the cabinet of Uganda. 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.[13]
See also
References
- ^ "The Senior Management Team At Finance Trust Bank". Finance Trust Bank. Retrieved 3 May 2014.
- ^ a b MMO (31 December 2014). "MFI Report: Finance Trust Bank - 31 December 2014 Financial Data". Mixmarket.org (MMO). Retrieved 17 March 2015.
- ^ BOU (June 2015). "List of Licensed Commercial Banks As At June 2015" (PDF). Kampala: Bank of Uganda (BOU). Retrieved 18 December 2015.
- ^ "Location of Headquarters of Finance Trust Bank at Google Maps" (Map). Google Maps. Retrieved 9 August 2015.
- ^ "Trust Finance Bank Corporate Profile". Trust Finance Bank. Retrieved 3 May 2014.
- ^ Ssempijja, David (21 February 2011). "Banks advised to embrace technology". New Vision. Retrieved 3 May 2014.
- ^ Businge, Julius (2 January 2014). "Executive Style - Transforming into a commercial bank". The Independent (Uganda). Kampala. Retrieved 29 August 2015.
- ^ Mugabe, David (22 December 2013). "Banking remains attractive with Finance Trust as latest entrant". New Vision. Kampala. Retrieved 3 May 2014.
- ^ Sanya, Samuel (17 January 2014). "First women's commercial bank launched in Uganda(Finance Trust supplement)". New Vision. Kampala. Retrieved 29 August 2015.
- ^ "Trust Finance Bank Branch List". Trust Finance Bank. Retrieved 22 May 2015.
- ^ Twaha, Ali (20 May 2015). "Uganda: Finance Trust Takes Banking Products to Kijura Residents". The Observer (Uganda) via AllAfrica.com. Retrieved 22 May 2015.
- ^ Ondoga, Ayiga (12 November 2010). "Bankers urged on competitiveness". New Vision. Retrieved 3 May 2014.
- ^ "About Us". Finance Trust Bank. Retrieved 3 May 2014.
