| Type | Private |
|---|---|
| Industry | Financial Services |
| Founded | 1973 |
| Headquarters | Kampala, Uganda |
| Key people | Gerald Sendaula Chairman Kassim Nakibinge Kakungulu Managing Director[1] |
| Products | Loans, Checking, Savings, Debit Cards, Investments, Mortgages |
| Revenue | Aftertax: US$1.5 million (2009) |
| Total assets | US$102 million (2009) |
| Website | Homepage |
Tropical Bank is a commercial bank in Uganda. It is one of the commercial banks licensed by the Bank of Uganda, the national banking regulator.[2]
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The bank was established in 1973 as Arab Libyan Bank for Foreign Trade & Development. In 1994, the name was changed to Tropical Africa Bank Limited. In 2006 the name was finally changed to Tropical Bank.[3]
As of December 2009[update], Tropical Bank was a medium-sized financial services provider in Uganda. The total bank assets at that time were valued at over US$102 million (UGX 203.3 billion), with shareholders' equity of over US$22 million (UGX:44.2 billion).[4] As of December 2010, the bank was the 11th largest commercial bank in Uganda with an estimated asset valuation of US$110 million, representing approximately 3% of all bank assets in the country.[5] Tropical Bank is involved in all commercial bank activities with focus on the financing of manufacturing, construction, trade, commerce, education, transportation and tourism.
99.7% of the share capital of Tropical Bank is owned by the Libyan government through the Libyan Foreign Bank. The remaining 0.3% is owned by the Government of Uganda through the Ministry of Finance and Economic Development. See Table below:[6] As of May 2009, the paid-up share capital of the bank is in excess of US$30 million][7]
