Finance Trust Bank
TypePrivate
IndustryFinancial services
Founded1984 (1984)
HeadquartersTWED Plaza, Lumumba Avenue, Nakasero, Kampala, Uganda[1]
Key people
Evelyn Kigozi Kahiigi
Chairperson[2]
Annet Nakawunde Mulindwa
CEO[2]
ProductsLoans, savings
Increase (Aftertax) UGX:9.16 billion (US$2.588 million) (2021)[3]
Total assetsUGX:393.9 billion (US$111.3 million) (2021)[3]
Number of employees
610 (2015)
Websitefinancetrust.co.ug

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]

Finance Trust Bank Stock Ownership
RankName of OwnerPercentage Ownership
1Uganda Women's Trust (Uganda)20.10
2Oikocredit Ecumenical Development Cooperative Society (Netherlands)19.60
3Progression Eastern African Micro Finance Equity Fund (Mauritius)18.30
4RIF North 1 (Mauritius)18.30
5Investment & Partner Afrique Entrepreneurs (Mauritius)14.20
6Ugandan Women Entrepreneurs (Uganda)9.50
Total100.0

Branch network

As of April 2022, FTB maintained a network of 34 interconnected branches at the following locations:[12]

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

  1. 1 2 The Independent Uganda (25 December 2023). "Finance Trust Bank unveils new corporate head offices". The Independent (Uganda). Kampala, Uganda. Retrieved 10 January 2024.
  2. 1 2 3 Finance Trust Bank (28 April 2022). "Finance Trust Bank: About Us: Board of Directors". Finance Trust Bank. Kampala. Retrieved 28 April 2022.
  3. 1 2 3 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.
  4. ↑ Bank of Uganda (31 March 2017). "List of licensed Commercial Banks as at March 31, 2017" (PDF). Kampala: Bank of Uganda (BOU). Retrieved 18 August 2017.
  5. ↑ Google (10 January 2024). "Location of the Headquarters of Finance Trust Bank" (Map). Google Maps. Google. Retrieved 10 January 2024.
  6. ↑ TFB. "Trust Finance Bank About Us". Kampala: Trust Finance Bank (FTB). Retrieved 14 November 2016.
  7. ↑ 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.
  8. ↑ OCO (31 July 2017). "Finance Trust Bank: Banking Services for Women". London: Oikocredit (OCO). Retrieved 18 August 2017.
  9. ↑ Ssempijja, David (21 February 2011). "Banks advised to embrace technology". New Vision. Kampala. Retrieved 14 November 2016.
  10. ↑ Mugabe, David (22 December 2013). "Banking remains attractive with Finance Trust as latest entrant". New Vision. Kampala. Retrieved 14 November 2016.
  11. ↑ Finance Trust Bank (28 May 2018). "Finance Trust Bank: OwnerShip and Capital Share". Kampala: Finance Trust Bank. Retrieved 28 May 2018.
  12. ↑ Finance Trust Bank (28 April 2022). "Branch Network of Finance Trust Bank". Finance Trust Bank. Kampala, Uganda. Retrieved 28 April 2022.

00°19′18″N 32°34′35″E / 0.32167°N 32.57639°E / 0.32167; 32.57639

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