Ecobank (Uganda)

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Ecobank (Uganda)
Type Public Company
GSE: ETI
Industry Financial Services
Founded 2009
Headquarters Kampala, Uganda
Key people David Twahirwa
Chairman
Micheal Monari
Managing Director
Products Loans, Savings, Investments, Debit Cards, Credit Cards, Mortgages
Revenue DecreasePretax:US$2.62 million (UGX:6.4 billion)[1]
Total assets US$37.3 million (UGX:91 billion) (2010)
Website Homepage

Ecobank (Uganda) is a commercial bank in Uganda. It is one of the commercial banks licensed by Bank of Uganda, the national banking regulator.[2]

Overwiew

The bank began operations in January 2009 as a full-service bank providing wholesale, retail, investment and transaction banking services and products to governments, financial institutions, multinationals, international organizations, medium, small and micro businesses and individuals. As of December 2010, the bank's total assets were valued at about US$37.3 million (UGX:91 billion).[3]

Ecobank network

Ecobank (Uganda) is a member of Ecobank Transnational, the leading independent pan-African bank, headquartered in Lomé, Togo with affiliates in West Africa, Central Africa, East Africa and Southern Africa. Ecobank, which was established in 1985, has grown to a network of over 600 branches, employing over 10,000 people, with offices in 29 countries including Benin, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Republic of Congo, Democratic Republic of Congo, Gambia, Ghana, Guinea, Guinea Bissau, Ivory Coast, Kenya, Liberia, Mali, Malawi, Niger, Nigeria, Rwanda, Sao Tome, Senegal, Sierra Leone, Togo, Uganda, Zambia and Zimbabwe.[4]

Parent company

Ecobank Transnational Inc. (ETI) is the parent company of the Ecobank Group which includes the following specialized subsidiaries:[5]

The stock of ETI is traded on three African stock exchanges, namely; the Ghana Stock Exchange (GSE), the Nigerian Stock Exchange (NSE) and the BRVM stock exchange in Abidjan, Ivory Coast.[6]

Ownership

The exact percentage share ownership of Ecobank (Uganda) is not publicly known but Ecobank Transnational owns a significant portion of the shares of the company. Other investors include Charles Mbire, a Director of the bank and according to press reports, the wealthiest indigenous Ugandan with a net worth in excess of US$60 million.[7]

Board of directors

The following individuals sit on the Board of Directors of Ecobank (Uganda): [8]

Management team

Micheal Monari is the Managing Director of Ecobank (Uganda). He was appointed to that position in October 2011, replacing Dele Alabi, who was relocated to Ecobank Nigeria.[9]

Branch Network

As of January 2014, Ecobank (Uganda) thirteen networked branches, nine of which are located in Kampala, the capital of the country. Plans are underway to open more branches all over the country and to expand the branch network to a total of eighty branches within the next five years.[10] The current branch network includes the following locations:[11]

  1. Bombo Road Branch - Bombo Road, Kampala
  2. Bugema Branch - Bugema University, Gayaza-Ziroobwe Road[12]
  3. Entebbe Airport Branch - Entebbe International Airport
  4. Lugogo Branch - Forest Mall, 3A2 & 3A3 Sports Lane, Lugogo, Kampala
  5. Head Office Branch - Parliament Avenue, Kampala
  6. Jinja Branch - Jinja[13]
  7. Kikuubo Branch - Nakivubo Road, Kampala
  8. Kyambogo Branch - Kyambogo University Campus, Kampala
  9. Mukono Branch - Jinja Road, Mukono
  10. Nakasero Branch - Rwenzori Towers, Nakasero Road, Nakasero, Kampala
  11. Ndeeba Branch - Masaka Road, Ndeeba, Kampala
  12. Oasis Mall Branch - Oasis Mall, Yusuf Lule Road, Kampala
  13. Wandegeya Branch - Bombo Road, Wandegeya, Kampala[14]

New branches are planned in Mbale, Arua, Mbarara and Gulu.[15] A branch is planned in Amuru in Northern Uganda, but has not been opened at this time.[16]

Photos

See also

External links

References

  1. ↑ Pretax Loss In 2010
  2. ↑ List of Licensed Commercial Banks In Uganda
  3. ↑ December 2010 Financial Data
  4. ↑ The Ecobank Network
  5. ↑ Ecobank Subsidiaries
  6. ↑ Ecobank Shareholding & Investment Matters
  7. ↑ Wealthiest Indigenous Ugandan
  8. ↑ Board of Directors of Ecobank (Uganda)
  9. ↑ Ecobank Uganda Has New Managing Director
  10. ↑ Ecobank To Open 80 Branches
  11. ↑ Ecobank Branches in Uganda
  12. ↑ Ecobank Uganda Opens 10th Branch At Bugema University
  13. ↑ Ecobank Uganda Opens Jinja Branch
  14. ↑ Wandegeya Branch is Ecobank's 8th in Uganda
  15. ↑ Ecobank: 25 Years of Banking in Africa
  16. ↑ Ecobank To Open Branch In Amuru
Capital: Kampala
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