Tropical Bank

Commercial bank in Uganda

Tropical Bank
Company type	Private
Industry	Financial services
Founded	1973
Headquarters	Kampala, Uganda
Key people	Ibrahim Senyonga Atwoki Board Chairman Khalifa Achour Ettalua Deputy Board Chairman, Abdulaziz M. Mansur managing director & Executive Director^[1]
Products	Loans, checking, savings, debit cards, investments, mortgages
Revenue	Aftertax: UGX:7.4 billion (2022)^[2]
Total assets	UGX:281 billion (2022)^[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

As of December 2019^[update], Tropical Bank was a small financial services provider in Uganda. The bank's assets at that time were UGX:316 billion (approximately US$84 million).^[2]

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.^[4]

Ownership

99.91 percent of the share capital of Tropical Bank is owned by the Libyan government through the Libyan Foreign Bank. The remaining 0.09 percent is owned by the government of Uganda through the Ministry of Finance & Economic Development.^[5]

Governance

Tropical Bank is governed by an eight-person board of directors, of whom two are executive directors and Six are non-executive. Ibrahim Senyonga Atwoki the non-executive director, is the Board Chairman. Khalifa Achour Ettalua, the non-executive director, is the Deputy Board Chairman. Abdulaziz M.A. Mansur is the managing director and Joweria Mukalazi is the acting executive director.Four other Directors assist him in running the bank.^[1]

Branch network

As of November 2020^[update], Tropical Bank had a network of branches in the Central, Western and Eastern regions of Uganda.

Kampala Road Branch - 27 Kampala Road, Kampala (Main Branch) and Head Office
Ntinda Branch - 1 Kimera Road, Ntinda, Kampala
Jinja Branch - 17 Main Street, Jinja
Masaka Branch - 2 Birch Avenue, Masaka
Mukono branch - Mukono, Uganda Mukono
Kawempe Branch - 3144 Kampala-Gulu Road, Kawempe, Kampala
Oasis Mall Branch - Yusuf Lule Road, Kampala
Kakira Branch - Downtown Area, Kakira^[6]

References

^ ^a ^b Tropical Bank (30 December 2019). "Members of Tropical Bank Executive Management Team". Kampala: Tropical Bank. Retrieved 30 December 2019.
^ ^a ^b ^c Ashita Chopra (6 May 2020). "Tropical Bank drafts capital restoration plan". Daily Monitor. Kampala. Retrieved 6 May 2020.
^ Bank of Uganda (31 March 2016). "Bank of Uganda: List of Licensed Commercial Banks As At March 2016" (PDF). Kampala: Bank of Uganda. Archived from the original (PDF) on 12 October 2016. Retrieved 23 August 2016.
^ "About Tropical Bank". Tropical Bank. Retrieved 4 May 2014.
^ Samuel Sanya (6 March 2020). "Uganda Returns Tropical Bank To Libyan Control". New Vision. Kampala. Retrieved 4 May 2020.
^ Ntaratambi, Sheba; Mukasa, Henry (2 April 2011). "Uganda: Tropical Bank Assures Public On Deposits". New Vision via AllAfrica.com. Archived from the original on 7 July 2012. Retrieved 4 May 2014.{{cite web}}: CS1 maint: bot: original URL status unknown (link)