Finance Trust Bank

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Finance Trust Bank
Private
Industry Financial Services
Founded 1984
Headquarters Plot 121 & 115, Block 6,
Finance Trust Building,
Katwe, Kampala, Uganda
Key people
 Irene Muloni
Chairperson
Annet Nakawunde Mulindwa
Chief Executive Officer[1]
Products Loans, Savings
Revenue Increase Aftertax:US$955,500 (2014)
Total assets US$44.03 million (2014)[2]
Number of employees
 540 (2014)
Website Homepage

Finance Trust Bank (FTB), commonly called Finance Trust, is a commercial bank in Uganda. It is licensed by the Bank of Uganda, the central bank and national banking regulator.[3]

Location

The headquarters of FTB are located on Plot 121 & 115, Block 6, Finance Trust Building, Katwe, in the central business district of Kampala, Uganda's capital city, at the corner of Mutesi Road and Katwe Road. The coordinates of the institution's headquarters are 0°18'06.0"N, 32°34'35.0"E (Latitude 0.301667; Longitude:32.576389).[4]

History

FTB was founded in 1984 as Uganda Women's Finance Trust Limited. The objective was to provide financial services to low income people in Uganda, especially women. It is one of the oldest microfinance companies in the county.[5] Subsequently, the institution rebranded to Uganda Finance Trust Limited, a Tier III financial institution, recognized as a microfinance deposit-taking institution under the supervision of the Bank of Uganda.[6] On 11 November 2013, the Bank of Uganda granted the bank a full commercial banking license.[7] The institution then rebranded to its current name.[8]

Overview

As of December 2014, FTB serviced 369,317 deposit accounts through a network of 33 interconnected branches, located in all regions of the country. The bank's total customer deposits were US $28.73 million. At that time, the bank maintained 27,636 loan accounts with a total loan portifolio of US $29.0 million. Total bank assets at that time were about US $44.06 million.[2]

Ownership

The stock ownership of the institution as of December 2011 is summarized in the table below.[9]

Finance Trust Bank Stock Ownership
Rank Name of Owner Percentage Ownership
1 Oikocredit (Netherlands) 24.1
2 Investment & Partner (France) 20.5
3 Uganda Women's Finance Trust (Uganda) 29.8
4 Ugandan Women Entrepreneurs (Uganda) 13.5
5 Sun Mutual Cooperative Society (Uganda) 12.1
Total 100.0

Branch network

As of May 2015, FTB maintained a network of 34 interconnected branches at the following locations:[10]

  1. Main Branch - Katwe Road, Katwe, Kampala
  2. Arua Branch - Arua
  3. Bombo Road Branch - Bombo Road, Kampala
  4. Bugiri Branch - Grant Street, Bugiri
  5. Busia Branch - Custom Road, Busia
  6. Entebbe Branch - Kampala Road, Entebbe
  7. Fort Portal Branch - Rukidi III Street, Fort Portal
  8. Gomba Branch - Kanoni, Gomba District
  9. Iganga Branch - Main Street, Iganga
  10. Ishaka Branch - Rukungiri Road, Ishaka
  11. Jinja Branch - Iganga Road, Jinja
  12. Kalangala Branch - Kalangala
  13. Kalerwe Branch - Kaleerwe, Kampala
  14. Kampala Road Branch - Kampala Road, Kampala
  15. Kamuli Branch - Kitimbo Road, Kamuli
  16. Kamwenge Branch - Station Road, Kamwenge
  17. Kapchorwa Branch - 46 Kapchorwa Road, Kapchorwa
  18. Kayunga Branch - Main Street, Kayunga
  19. Kijura Branch - Kijura sub-county, Kabarole District[11]
  20. Kikuubo Branch - Nakivubo Road, Kampala
  21. Kitintale Branch - Kitintale - Kampala[12]
  22. Kumi Branch - Ngora Road, Kumi
  23. Lugazi Branch - Kampala-Jinja Highway, Lugazi
  24. Lwengo Branch - Mabiriizi, Lwengo District
  25. Masaka Branch - Edward Avenue, Masaka
  26. Mbale Branch - Republic Street, Mbale
  27. Mbarara Branch - High Street, Mbarara
  28. Mukono Branch - Kampala–Jinja Highway, Mukono
  29. Nakivubo Branch - 30-32 Mackay Road, Freeman Foundation Building, Kampala
  30. Nansana Branch - Hoima Road, Nansana
  31. Nateete Branch - Masaka Road, Nateete
  32. Ntungamo Branch - Old Kabale Road, Ntungamo
  33. Owino Branch - Kafumbe Mukasa Road, Kampala
  34. Pallisa Branch - Kasodo Road, Pallisa
  35. Soroti Branch - Solot Avenue, Soroti
  36. Tororo Branch - Bazaar Street, Tororo

Governance

Irene Muloni is the chairperson of the board of directors. She is also the minister of energy, oil & minerals in the cabinet of Uganda. She is one of the non-executive directors of the bank. There are seven other board members, including Annet Nakawunde Mulindwa, the managing director, and Dennis Kakeeto, the only other executive director on the board.[13]

See also

References

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External links

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