Finance Trust Bank
Company type | Private |
---|---|
Industry | Financial services |
Founded | 1984; 40 years ago (1984) |
Headquarters | TWED Plaza, Lumumba Avenue, Nakasero, Kampala, Uganda[1] |
Key people | Evelyn Kigozi Kahiigi Chairperson[2] Annet Nakawunde Mulindwa CEO[2] |
Products | Loans, savings |
Net income | (Aftertax) UGX:9.16 billion (US$2.588 million) (2021)[3] |
Total assets | UGX:393.9 billion (US$111.3 million) (2021)[3] |
Number of employees | 610 (2015) |
Website | financetrust |
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.[4]
Location
The headquarters of FTB are located at TWED Plaza, Lumumba Avenue, Nakasero, in the Central Division of Kampala, Uganda's capital city.[1] The coordinates of the institution's headquarters are 0°19'18.0"N 32°34'35.0"E (Latitude:0.321667; Longitude:32.576389).[5]
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.[6][7] Sixty percent of the bank's customers are women.[8] 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.[9] On 11 November 2013, the Bank of Uganda granted the bank a full commercial banking license. The institution then rebranded to its current name.[10]
Overview
As of 31 December 2021, FTB serviced over 500,000 savers and over 29,000 borrowers through a network of 34 interconnected branches, located in all regions of the country. The bank's total customer deposits were UGX:183.4 billion (US$51.8 million). At that time, the bank's total assets were valued at UGX:393.9 billion (approx. US$111.3 million), with shareholders' equity of UGX:61.2 billion (approx. US$17.29 million).[3]
Ownership
The stock ownership of the institution as of May 2018 is summarized in the table below.[11]
Rank | Name of Owner | Percentage Ownership |
---|---|---|
1 | Uganda Women's Trust (Uganda) | 20.10 |
2 | Oikocredit Ecumenical Development Cooperative Society (Netherlands) | 19.60 |
3 | Progression Eastern African Micro Finance Equity Fund (Mauritius) | 18.30 |
4 | RIF North 1 (Mauritius) | 18.30 |
5 | Investment & Partner Afrique Entrepreneurs (Mauritius) | 14.20 |
6 | Ugandan Women Entrepreneurs (Uganda) | 9.50 |
Total | 100.0 |
Acquisition by Access Bank Group
In January 2024, Access Bank Group based in Nigeria agreed to acquire an 80 percent shareholding in Uganda's FTB. The deal involves the acquisition of shares of stock of existing institutional shareholders of FTB, followed by capital injection to increase FTB's capital base. The binding deal requires regulatory approval of the Central Bank of Nigeria and the Bank of Uganda. Closure is anticipated in the first half of 2024.[12][13]
Branch network
As of April 2022, FTB maintained a network of 34 interconnected branches at the following locations:[14]
- Main Branch - Katwe Road, Katwe, Kampala
- Arua Branch - Arua
- Bombo Road Branch - Bombo Road, Kampala
- Busia Branch - Custom Road, Busia
- Entebbe Branch - Kampala Road, Entebbe
- Fort Portal Branch - Rukidi III Street, Fort Portal
- Gomba Branch - Kanoni, Gomba District
- Iganga Branch - Main Street, Iganga
- Ishaka Branch - Rukungiri Road, Ishaka
- Jinja Branch - Iganga Road, Jinja
- Kalangala Branch - Kalangala
- Kaleerwe Branch - Kaleerwe, Kampala
- Kampala Road Branch - Kampala Road, Kampala
- Kamuli Branch - Kitimbo Road, Kamuli
- Kamwenge Branch - Station Road, Kamwenge
- Kapchorwa Branch - 46 Kapchorwa Road, Kapchorwa
- Kayunga Branch - Main Street, Kayunga
- Kikuubo Branch - Nakivubo Road, Kampala
- Kitintale Branch - Kitintale - Kampala
- Kumi Branch - Ngora Road, Kumi
- Lugazi Branch - Kampala-Jinja Highway, Lugazi
- Lwengo Branch - Mbiriizi, Lwengo District
- Masaka Branch - Edward Avenue, Masaka
- Mbale Branch - Republic Street, Mbale
- Mbarara Branch - High Street, Mbarara
- Mukono Branch - Kampala–Jinja Highway, Mukono
- Nakivubo Branch - 30-32 Mackay Road, Freeman Foundation Building, Kampala
- Nansana Branch - Hoima Road, Nansana
- Nateete Branch - Masaka Road, Nateete
- Ntungamo Branch - Old Kabale Road, Ntungamo
- Owino Branch - Kafumbe Mukasa Road, Kampala
- Pallisa Branch - Kasodo Road, Pallisa
- Soroti Branch - Solot Avenue, Soroti
- Tororo Branch - Bazaar Street, Tororo
Governance
Evelyn Kigozi Kahiigi is the chairperson of the board of directors. She is one of the non-executive directors of the bank. There are ten other board members, including Annet Nakawunde Mulindwa, the managing director, and Annette Kiggundu is the only other executive director on the board.[2]
See also
References
- ^ a b The Independent Uganda (25 December 2023). "Finance Trust Bank unveils new corporate head offices". The Independent (Uganda). Kampala, Uganda. Retrieved 10 January 2024.
- ^ a b c Finance Trust Bank (28 April 2022). "Finance Trust Bank: About Us: Board of Directors". Finance Trust Bank. Kampala. Retrieved 28 April 2022.
- ^ a b c Muhereza Kyamutetera (27 April 2022). "Putting Women's Financial Inclusion First: Finance Trust Bank's 2021 Net Profit Grows 57 Per Cent". CEO Magazine Uganda. Kampala, Uganda. Retrieved 28 April 2022.
- ^ Bank of Uganda (31 March 2017). "List of licensed Commercial Banks as at March 31, 2017" (PDF). Kampala: Bank of Uganda (BOU). Archived from the original (PDF) on 30 July 2017. Retrieved 18 August 2017.
- ^ Google (10 January 2024). "Location of the Headquarters of Finance Trust Bank" (Map). Google Maps. Google. Retrieved 10 January 2024.
- ^ TFB. "Trust Finance Bank About Us". Kampala: Trust Finance Bank (FTB). Retrieved 14 November 2016.
- ^ Lyatuu, Justus (11 December 2016). "Uganda: Finance Trust, MTN, Airtel in Mobile Money Deal". The Observer (Uganda) via AllAfrica.com. Kampala. Retrieved 17 August 2017.
- ^ OCO (31 July 2017). "Finance Trust Bank: Banking Services for Women". London: Oikocredit (OCO). Retrieved 18 August 2017.
- ^ Ssempijja, David (21 February 2011). "Banks advised to embrace technology". New Vision. Kampala. Retrieved 14 November 2016.
- ^ Mugabe, David (22 December 2013). "Banking remains attractive with Finance Trust as latest entrant". New Vision. Kampala. Retrieved 14 November 2016.
- ^ Finance Trust Bank (28 May 2018). "Finance Trust Bank: OwnerShip and Capital Share". Kampala: Finance Trust Bank. Retrieved 28 May 2018.
- ^ Busora Aro (17 January 2024). "Access Bank To Acquire 80 Percent Stake In Finance Trust Bank". TheCable. Lagos, Nigeria. Retrieved 18 January 2024.
- ^ New Vision (18 January 2024). "Access Bank To Acquire Majority Stake In Finance Trust Bank." New Vision. Kampala, Uganda. Retrieved 18 January 2024.
- ^ Finance Trust Bank (28 April 2022). "Branch Network of Finance Trust Bank". Finance Trust Bank. Kampala, Uganda. Retrieved 28 April 2022.
External links
- Finance Trust Bank Homepage
- v
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- Kampala Northern Bypass Highway
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- Tondeka Metro Bus Service
landmarks
- Afrexim Bank House, Kampala
- Bulange
- Christ the King Catholic Church
- Uganda Parliament Buildings
- Kampala Capital City Authority Complex
- DFCU House
- Kampala Protea Hotel
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- Imperial Hotels Group
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- East African Development Bank Building
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- Mengo Palace
- Kabaka's Place Banda
- Namirembe Cathedral
- Rubaga Cathedral
- Makerere University Main Campus
- National Water and Sewerage Corporation Headquarters Building
- Kampala Tower
- Hotel Africana
- Kibuli Mosque
- Old Kampala Mosque
- Uganda Inspectorate of Government Towers
- Uganda Ministry of Education Complex
- Uganda Museum
- Uganda National Cultural Centre
- Uganda National Records Centre and Archives
- Kasubi Tombs
- DFCU House
- Pension Towers
- JLOS House Project
- Roman Catholic Archdiocese of Kampala
- Aga Khan University, Kampala
- Cavendish University Uganda
- Clarke International University
- Habib Medical School
- Institute of Petroleum Studies Kampala
- International Health Sciences University
- International University of East Africa
- ISBAT University
- Kampala International School
- Kampala University
- Kibuli Secondary School
- Kitante Hill Secondary School
- Kololo Senior Secondary School
- Kyambogo University
- Law Development Centre
- Makerere College School
- Makerere University
- Makerere University Business School
- Mengo Senior School
- Nabisunsa Girls' Secondary School
- Nakawa Vocational Training Institute
- Nexus International University
- Rubaga Community School
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- Team University
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- Aga Khan University Hospital, Kampala
- Butabika Hospital
- Case Medical Centre
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- Kawempe General Hospital
- Kibuli Hospital
- Kiruddu General Hospital
- Lubaga Hospital
- Makerere University Hospital
- Mbuya Military Hospital
- Mengo Hospital
- Mulago Hospital
- Mulago Women's Referral Hospital
- Murchison Bay Hospital
- Upper Mulago Regional Referral Hospital
- Nakasero Hospital
- Naguru General Hospital
- Nsambya Hospital
- Paragon Hospital
- Uganda Cancer Institute
- Uganda Heart Institute
- Uganda Medical and Dental Practitioners Council
- Women's Hospital International and Fertility Centre
- Galilee Community General Jewish Hospital of Uganda
- International Medical Group
- Uganda Joint Medical Store
- A.F. Mpanga Advocates
- ENSafrica
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- Kasirye Byaruhanga and Company Advocates
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- Hasmukh Dawda
00°19′18″N 32°34′35″E / 0.32167°N 32.57639°E / 0.32167; 32.57639