Guaranty Trust Bank (Uganda)

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Guaranty Trust Bank (Uganda)
Private
Industry Financial services
Founded 2008
Headquarters Kiira 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$34.5 million (KES:2.9 billion) (2011)
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 small, fast-growing banking 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$34.5 million (KES:2.9 billion), with shareholders' equity of about US$5.13 million (KES:429.3 billion)[3] At that time, the bank was the 19th largest commercial bank in Uganda with about 1 percent of all bank assets in the country.[citation needed] GT Bank (Uganda) is a subsidiary of Guaranty Trust Bank (GTB), a Nigerian financial services conglomerate with assets in excess of US$11.5 billion as of March 2013.

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.[4] In January 2014, the bank rebranded to its current name to reflect its current shareholding.[5][6]

Ownership[edit]

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

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.[7]

Branch Network[edit]

As of January 2014, GT Bank Uganda has a network of seven branches in various Ugandan urban centers, including 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

See also[edit]

References[edit]

  1. ^ "The Guaranty Trust Bank Board of Directors". GT Bank Uganda. Retrieved 3 May 2014. 
  2. ^ BOU (June 2015). "List of Licensed Commercial Banks As At June 2015" (PDF). Kampala: Bank of Uganda (BOU). Retrieved 18 December 2015. 
  3. ^ "December 2011 Group Financial Report" (PDF). GT Bank East Arica. Retrieved 3 May 2014. 
  4. ^ Egene, Goddy (25 December 2013). "GTBank Concludes Acquisition of Fina Bank, Kenya". This Day Live. Retrieved 3 May 2014. 
  5. ^ "Fina Bank In Rwanda, Uganda To Be Renamed Very Soon". IGIHE. 26 December 2013. Retrieved 3 May 2014. 
  6. ^ Odyek, John (23 January 2014). "Fina Bank Uganda Sold To Nigerian Bank Group". New Vision. Retrieved 3 May 2014. 
  7. ^ "The Senior Management Team At Guaranty Trust Bank Uganda". GT Bank Uganda. Retrieved 3 May 2014. 
  8. ^ "List of GT Bank Uganda Branches". GT BANK Uganda. Retrieved 3 May 2014. 
  9. ^ Vision, Reporter (1 December 2009). "Fina Bank Targets Industrial Area". New Vision. Retrieved 3 May 2014. 

External links[edit]