Exim Bank (Uganda)

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Exim Bank (Uganda)
Private
Industry Financial Services
Founded 2011
Headquarters 6 Hannington Road
Kampala, Uganda
Key people
Sarah Nanziri Bagalaaliwo
chairman
R. R. Chandramouli
chief executive officer[1]
Products Loans, checking, savings, investments, debit cards
Revenue DecreaseAftertax:US$764,100 (UGX:1.97 billion) (2013)
Total assets US$87 million (UGX:214.65 billion) (2013)
Number of employees
100+ (2016)[2]
Parent Exim Bank (Tanzania)
Slogan "Innovation is life"[citation needed]
Website Homepage

Exim Bank (Uganda) (EBU), commonly known as Exim Bank, is a commercial bank in Uganda. It is one of the commercial banks licensed by the Bank of Uganda (BOU), the central bank and national banking regulator.[3]

Overview[edit]

The bank is a small-sized retail bank that caters to both individuals and corporate clients. In December 2013, the bank's total assets were valued at approximately US$87 million (UGX:214.65 billion), with shareholders' equity of approximately US$13.7 million (UGX:34.2 billion).[4] EBU is a subsidiary of Exim Bank (Tanzania), a large Tanzanian financial services company with subsidiaries in Tanzania, Comoros, Djibouti, and Uganda.[5]

History[edit]

EBU was established in 2011 as Imperial Bank Uganda[6] by two major investors, Mukwano Group, a diversified Ugandan business and manufacturing conglomerate, and Imperial Bank Kenya,[7] a medium-sized financial services provider, based in Nairobi, Kenya.[8]

On 13 October 2015, following the death of the Imperial Bank Group's managing director, the Central Bank of Kenya placed Imperial Bank Kenya under statutory management due to "unsafe and unsound business conditions to transact business" at the parent company. BOU took over Imperial Bank Uganda the same day.[9][10] BOU promptly put the Imperial Bank Group's shareholding on sale.[11] On 7 March 2016, Exim Bank (Tanzania) acquired the ownership interest that Imperal Bank Kenya formerly had in this bank and re-branded it to Exim Bank (Uganda).[5]

Ownership[edit]

The stock of the bank is privately held. The detailed shareholding in Exim Bank (Uganda) as of March 2016 is depicted in the table below:[12][13]

Exim Bank (Uganda) Stock Ownership
Rank Name of Owner Percentage Ownership
1 Exim Bank of Tanzania 58.6
2 Amazal Holdings Limited of Uganda 36.5
3 Export Finance Limited of Uganda 4.9
Total 100.00

Branch network[edit]

As of May 2014, the locations of the bank's branches included the following:[14]

  1. Main Branch - 6 Hannington Road, Kampala
  2. Mukwano Mall Branch - Mukwano Shopping Mall, 23-31 Rashid Khamis Road, Kampala
  3. Nakivubo Branch - Mukwano Centre Shopping Arcade, Nakivubo Place Road, Kampala
  4. Kikuubo Branch - 24 Kikuubo Lane, Kampala
  5. Acacia Mall Branch - Acacia Shopping Mall, Acacia Avenue, Kololo, Kampala

See also[edit]

References[edit]

  1. ^ Independent Reporter (7 March 2016). "Exim Bank takes over Imperial Bank". The Independent (Uganda). Kampala. Retrieved 7 March 2016. 
  2. ^ Press Release (7 March 2016). "Exim Bank now in 'Uganda'". Dar es Salaam: Exim Bank. Retrieved 7 March 2016. 
  3. ^ BOU (June 2015). "List of Licensed Commercial Banks As At June 2015" (PDF). Kampala: Bank of Uganda (BOU). Retrieved 18 December 2015. 
  4. ^ "Shareholding In Imperial Bank Uganda". Imperial Bank Uganda. Retrieved 4 May 2014. [dead link]
  5. ^ a b Oketch, Martin Luther (7 March 2016). "Exim Bank Tanzania takes over Imperial Bank Uganda". Daily Monitor. Kampala. Retrieved 7 March 2016. 
  6. ^ Nantaba, Eriosi (7 February 2011). "Imperial Bank Set To Open In Uganda". East Africa Business Week (Kampala) via Archive.today. Retrieved 4 May 2014. 
  7. ^ Khisa, Isaac (4 February 2014). "Kenya bank joins Uganda market". Daily Monitor. Kampala. Retrieved 7 March 2016. 
  8. ^ IBKL (2014). "Audited 31 December 2013 Financial Statement" (PDF). Imperial Bank Kenya Limited (IBKL). Retrieved 21 August 2014. [dead link]
  9. ^ George Ngigi, and Brian Ngugi (13 October 2015). "Central Bank of Kenya puts Imperial Bank under statutory management". Daily Nation. Nairobi. Retrieved 7 March 2016. 
  10. ^ Monitor Reporter (13 October 2015). "Bank Of Uganda takes over operations of Imperial Bank". Daily Monitor. Kampala. Retrieved 7 March 2016. 
  11. ^ Irungu, Geoffrey (22 October 2015). "Uganda puts Imperial Bank's stake in Kampala unit on sale". Business Daily Africa. Nairobi. Retrieved 7 March 2016. 
  12. ^ Sanya, Samuel (7 March 2016). "Tanzania's Exim Bank takes over Imperial Bank Uganda". New Vision. Kampala. Retrieved 7 March 2016. 
  13. ^ Coutinho, Brian (12 March 2016). "Uganda: Tanzanian Bank Goes After Ugandan Clients". East African Business Week. Kampala. Retrieved 14 March 2016. 
  14. ^ "Branches of Imperial Bank Uganda In May 2014". Imperial Bank Group. Retrieved 4 May 2014. [dead link]

External links[edit]