PostBank Uganda

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PostBank Uganda
Private
Industry Financial Services
Founded 1926
Headquarters 4 - 6 Nkrumah Road
Kampala, Uganda
Key people
Obella Oode
Chairman
Stephen Mukweli
Managing Director[1]
Products Loans, Checking, Savings, Investments
Revenue Increase US$1.7 million
(UGX:4.28 billion) (2012)
Total assets US$54 million
(UGX:135.7 billion) (2012)
Website Homepage

PostBank Uganda is a non-bank credit institution in Uganda. Its activities are supervised by the Bank of Uganda, the country's central bank and national banking regulator.[2]

Overview[edit]

As of December 2012, PostBank Uganda was a small, but growing credit institution whose assets were estimated at US$54 million (UGX:135.7 billion).[3]

History[edit]

PostBank Uganda has been in existence since 1926. It started out as a department in the Post Office. In February 1998 PostBank Uganda Limited was incorporated in accordance with the Communications Act of 1997 to take over the operations of the former Post Office Savings department.

PostBank Uganda was incorporated under the Companies Act in February 1998 as a limited liability company. The bank's operations are supervised by the Bank of Uganda under the Financial Institutions Act. It is classified as a Tier II Institution (Non-Bank Credit Institution), by the Bank of Uganda.[2]

PostBank Uganda subscribes to the Depositors Insurance Scheme at Bank of Uganda. If PostBank Uganda fails, the bank's depositors are insured up to Sh 3 million (approximately US$1,600.00) in 2009, per eligible account. In 2009, PostBank Uganda applied to the Bank of Uganda to become a fully licensed commercial bank.[4]

In February 2016, Ugandan media sources reported hat the government was planning to merge Postabank Uganda with Pride Microfinance Limited, to form an agricultural bank.[5]

Ownership[edit]

PostBank Uganda is wholly owned by the Government of Uganda.[citation needed]

Branch network[edit]

As of May 2014, PostBank Uganda maintained a branch network of 32 fixed branches and 17 mobile banking units, totaling 49 branches.[6]

Fixed branches[edit]

  1. Arua Branch - Arua
  2. Bombo Branch - Bombo
  3. Bugoloobi Branch - Bugoloobi, Kampala
  4. City Branch - Nkrumah Road, Kampala (Head Office)
  5. Entebbe Branch - Entebbe
  6. Fort Portal Branch - Fort Portal
  7. Gulu Branch - Gulu
  8. Hoima Branch - Hoima
  9. Iganga Branch - Iganga[7]
  10. Jinja Branch - Jinja
  11. Kabale Branch - Kabale
  12. Kakiri Branch - Kakiri
  13. Kampala Road Branch - Kampala Road, Kampala
  14. Kamwenge Branch - Kamwenge[8]
  15. Kanungu Branch - Kanungu[9]
  16. Kasese Branch - Kasese
  17. Kayunga Branch - Kayunga
  18. Kitgum Branch - Kitgum
  19. Lacor Branch - Lacor Hospital, Gulu
  20. Lira Branch - Lira
  21. Masaka Branch - Masaka
  22. Mbale Branch - Mbale
  23. Mbarara Branch - Mbarara
  24. Mubende Branch - Mubende
  25. Nakasongola Branch - Nakasongola
  26. Ndeeba Branch - Ndeeba, Kampala
  27. Nkrumah Road Branch - Nkrumah Road, Kampala
  28. Ntungamo Branch - Ntungamo
  29. Soroti Branch - Soroti
  30. Wandegeya Branch - Wandegeya, Kampala
  31. William Street Branch - William Street Kampala
  32. Koome Island Branch - Koome Island[10]

Mobile branches[edit]

The mobile branches are located in the following towns and districts:[11]

  1. Budaka - Budaka District
  2. Bududa - Bududa District
  3. Bukedea - Bukedea District
  4. Butaleja - Butaleja District
  5. Fort Portal - Kabarole District
  6. Kamwenge - Kamwenge District
  7. Kapchorwa - Kapchorwa District
  8. Kibaale - Kibaale District
  9. Kyegegwa - Kyegegwa District[12]
  10. Kyenjojo - Kyenjojo District
  11. Manafwa - Manafwa District
  12. Pallisa - Pallisa District
  13. Sironko - Sironko District
  14. Tororo - Tororo District

Governance[edit]

The activities of PostBank Uganda are directed by the its board of directors. As of May 2014, the chairman of the board was Obella Oode. The managing director and chief executive officer was Stephen Mukweli. The current board was installed in 2012 for a five-year term. The day-to-day activities of the bank are supervised by a team of ten bank managers, headed by the managing director.[13]

See also[edit]

References[edit]

  1. ^ Mugalu, Moses (3 June 2014). "Uganda: Postbank Launches Sh800 Million Loan Scheme for Farmers". The Observer (Uganda). Retrieved 5 June 2014. 
  2. ^ a b BOU, . "List of Licensed Credit Institutions In Uganda As At March 2013" (PDF). Bank of Uganda (BOU). Retrieved 21 June 2015. 
  3. ^ By, Editors (21 May 2013). "Mixed Fortunes for Banks In 2012". Summit Business Review (Uganda). Retrieved 29 May 2014. 
  4. ^ Maseruka, Josephine (30 March 2009). "PostBank Launches Land Loan". New Vision (Kampala). Retrieved 29 May 2014. 
  5. ^ NZU (27 February 2016). "Government to merge Post Bank and Pride Microfinance to form an agricultural Bank". Kampala: Newz.ug (NZU). Retrieved 3 April 2016. 
  6. ^ "List of PostBank Branches". PostBank Uganda. Retrieved 29 May 2014. 
  7. ^ Kiirya, Donald (21 March 2009). "Central Bank commends PostBank". New Vision. Retrieved 29 May 2014. 
  8. ^ Mafaranga, Hope (25 October 2009). "Uganda: Post Bank Goes to Kamwenge". New Vision via AllAfrica.com. Retrieved 29 May 2014. 
  9. ^ Baraire, Patson (7 November 2010). "Uganda: Kanungu Gets Its Second Commercial Bank". New Vision via AllAfrica.com. Retrieved 29 May 2014. 
  10. ^ Kulabako, Faridah (18 February 2011). "Banks Intensify Branch Growth to Raise Customer Base". Daily Monitor. Retrieved 29 May 2014. 
  11. ^ Senyonyi, Taddewo (6 January 2014). "Banking On Wheels: Banks Innovatively Reaching Out to The Unbanked In Remote Areas". The CEO Magazine (Kampala). Retrieved 5 June 2014. 
  12. ^ Ghosh, Ishita (28 September 2010). "The Ugandan Millionaire". Theworkzine.com. Retrieved 29 May 2014. 
  13. ^ Jaramogi, Patrick (4 April 2012). "Post Bank Gets New Board". New Vision. Retrieved 29 May 2014. 

External links[edit]