Unguka Bank
TypePrivate
IndustryBanking
Founded2005
HeadquartersKigali, Rwanda
Key people
Justin Kagishiro
Managing Director
ProductsLoans, Electronic productss, savings, investments, mortgages, Remittances
RevenueIncrease Aftertax: US$387,000+ (RWF:230 million) (2010)[1]
Number of employees
170
Websitewww.ungukabank.com

Unguka Bank Plc (UB), commonly known as Unguka Bank, is a microfinance bank in Rwanda. It is one of the banks licensed by the National Bank of Rwanda, the country's banking regulator.[2]

Overview

As of June 2012, UBL was a small but growing financial service provider, whose total asset valuation and shareholders' equity were publicly unknown at this time. At that time, the bank had 556 shareholders and 14 branches.[3]

History

The institution was founded in 2005, as Unguka Microfinance Limited,[4] by 215 investors with total capital of about US$538,400 (RWF:321.1 million). In 2008, the bank's processes were automated.[5] In 2012, the institution transformed into a microfinance bank, following the issuance of a microfinance banking licence by the National Bank of Rwanda. The bank rebranded as Unguka Bank Limited.[6]

Ownership

The stock of Uguka Bank is privately owned by corporate and individual investors. At this time, the detailed shareholding in the bank is not publicly known. 35% shareholding is owned by Rural Impulse Fund II (RIF).[3]

See also

References

  1. ↑ "MICROCAPITAL BRIEF: Unguka Microfinance of Rwanda Reports 58% Profit Increase to $384k - MicroCapital". 24 March 2011.
  2. ↑ "List of Licensed Commercial Banks In Rwanda". Archived from the original on 2012-05-12.
  3. 1 2 Rumanzi, Abraham (2012-06-20). "Rwanda: Unguka Licensed as a Bank, Plans Expansion". The Independent (Kampala). Retrieved 2017-08-30.
  4. ↑ "UBL Founded In 2005". Archived from the original on 2016-10-30. Retrieved 2011-12-17.
  5. ↑ "UNGUKA BANK THE TRANSITION STORY". Hope Magazine. Retrieved 2021-05-17.
  6. ↑ "Rwanda: Unguka Bank Seeks Commercial Bank Status". Rwanda Express (Kigali). 2012-06-22. Retrieved 2017-08-30.
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