Tropical Bank

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Tropical Bank
Private
Industry Financial services
Founded 1973
Headquarters Kampala, Uganda
Key people
Gerald Sendaula
chairman
Kreshi Sameh Mahmud
managing director & chief executive officer[1]
Products Loans, checking, savings, debit cards, investments, mortgages
Revenue Increase Aftertax: UGX:1.91 billion (2015)[2]
Total assets UGX:256.8 billion (2015)[2]
Website www.trobank.com

Tropical Bank is a commercial bank in Uganda. It is licensed and supervised by the Bank of Uganda, the country's central bank and national banking regulator.[3]

Overview[edit]

As of December 2015, Tropical Bank was a small financial services provider in Uganda. The bank's assets at that time were UGX:256.78 billion, with shareholders' equity of UGX:57.23 billion.[2]

History[edit]

The bank was established in 1973 as the Arab Libyan Bank for Foreign Trade & Development. In 1994, the name was changed to Tropical Africa Bank Limited. In 2006, the bank re-branded to Tropical Bank.[4]

Ownership[edit]

99.7 percent of the share capital of Tropical Bank is owned by the Libyan government through the Libyan Foreign Bank. The remaining 0.3 percent is owned by the government of Uganda through the Ministry of Finance & Economic Development.[5]

Governance[edit]

Tropical Bank is governed by a six-person board of directors, of whom two are executive directors and four are non-executive. Gerald Sendawula, one of the non-executive directors, is the chairman of the board. Sameh Mahmoud Krekshi is the managing director. Three other managers assist him in running the bank.[1]

Branch network[edit]

As of May 2014, Tropical Bank had a network of branches in the central and eastern regions of Uganda. The bank's plans to open branches in neighboring countries in East Africa have been postponed.[6][7]

  1. Kampala Road Branch - 27 Kampala Road, Kampala (Main Branch)
  2. Nakivubo Branch - 34-38 Nakivubo Road, Kampala
  3. Ntinda Branch - 1 Kimera Road, Ntinda, Kampala
  4. Jinja Branch - 17 Main Street, Jinja
  5. Masaka Branch - 2 Birch Avenue, Masaka
  6. Kansanga Branch - 5277 Ggaba Road, Kansanga, Kampala
  7. Kawempe Branch - 3144 Kampala-Gulu Road, Kawempe, Kampala
  8. Oasis Mall Branch - Yusuf Lule Road, Kampala
  9. Kakira Branch - Downtown Area, Kakira[8]
  10. Katwe Branch - Muganzirwazza Shopping Mall, Muteesa I Road, Katwe, Kampala
  11. Kaliro Branch - 45 Zibondo Road, Kaliro
  12. Mbale Branch - 37 Republic Road, Mbale
  13. Lugogo Bypass Branch - Lugogo Office Park, 54 Lugogo Bypass, Kampala], Head Office[9]

See also[edit]

References[edit]

  1. ^ a b Tropical Bank (23 August 2016). "Members of Tropical Bank Executive Management Team". Kampala: Tropical Bank. Retrieved 23 August 2016. 
  2. ^ a b c Tropical Bank (29 April 2016). "Tropical Bank Limited: Annual Report And Financial Statements for Year Ending 31 December 2015" (PDF). Kampala: Tropical Bank. 
  3. ^ Bank of Uganda (31 March 2016). "Bank of Uanda: List of Licensed Commercial Banks As At March 2016" (PDF). Kampala: Bank of Uganda. Retrieved 23 August 2016. 
  4. ^ "About Tropical Bank". Tropical Bank. Retrieved 4 May 2014. 
  5. ^ Sanya, Samuel (6 March 2012). "Uganda Returns Tropical Bank To Libyan Control". New Vision (Kampala). Retrieved 4 May 2014. 
  6. ^ Ojambo, Fred (13 August 2008). "Tropical Bank of Uganda To Start Operations In Kenya In 2010". Bloomberg News. Retrieved 4 May 2014. 
  7. ^ "List of Tropical Bank Branches". Tropical Bank. Retrieved 4 May 2014. 
  8. ^ Ntaratambi, Sheba; Mukasa, Henry (2 April 2011). "Uganda: Tropical Bank Assures Public On Deposits". New Vision via AllAfrica.com. Retrieved 4 May 2014. 
  9. ^ TB (2014). "Tropical Bank Headquarters Gets New Home". Tropical Bank (TB). Retrieved 19 June 2015. 

External links[edit]