Tropical Bank

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Tropical Bank
Private
Industry Financial Services
Founded 1973
Headquarters Kampala, Uganda
Key people
Gerald Sendaula
Chairman
Osama Rami Serrag
Managing Director & CEO[1]
Products Loans, Checking, Savings, Debit Cards, Investments, Mortgages
Revenue Increase Aftertax: US$623,000+ (UGX:1.6 billion (2012)
Total assets US$84+ million (UGX:215 billion) (2012)
Slogan Simple & Professional
Website www.trobank.com

Tropical Bank is a commercial bank in Uganda. It is one of the commercial banks licensed by the Bank of Uganda, the country's central bank and national banking regulator.[2]

Overview

As of December 2012, Tropical Bank was a small financial services provider in Uganda. The bank's assets at that time were valued at about UGX:215 billion.[3] Shareholders' equity in 2009 was UGX:60 billion.[4]

History

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.[5]

Ownership

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.[6]

Tropical Bank Stock Ownership
Rank Name of Owner Percentage Ownership
1 Libyan Foreign Bank 99.7
2 Government of Uganda 0.3

Governance

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. Abduelhadi Taher Giuma is the managing director. Three other managers assist him in running the bank.[7]

Branch network

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.[8][9]

  1. Kampala Road Branch - 27 Kampala Road, Kampala
  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[10]
  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[11]

See also

References

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External links