Global Trust Bank| Type |
Private |
|---|
| Industry |
Financial Services |
|---|
| Founded |
2008 |
|---|
| Headquarters |
Kampala, Uganda |
|---|
| Key people |
Florence Mugasha
Acting Chairperson
Morenikeji Oludotun Adepoju
Managing Director[1] |
|---|
| Products |
Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages |
|---|
| Revenue |
 Pretax:US$743,400 (UGX:1.8 billion) (2011) |
|---|
| Total assets |
US$37.1 million (UGX:90 billion) (2011) |
|---|
| Employees |
200 (2008)[2] |
|---|
| Website |
Homepage |
|---|
Global Trust Bank (Uganda) Limited, commonly referred to as Global Trust Bank (GTBU), is a commercial bank in Uganda which started operations in 2008. Its headquarters are located in a five-storey building on Kampala Road in the center of Uganda’s capital, Kampala.[3] It is licensed as a commercial bank by Bank of Uganda, the national banking regulator.[4]
Overview
The bank is a small-but-growing financial services provider in Uganda. As of December 2011, its total asset valuation was approximately US$35.1 million (UGX:85 billion), with shareholders' equity of about US$17.2 million (UGX:41.53 billion).[5] Available reports indicate that the bank broke even in 2011 and began making profits in 2012.[6] The bank is evaluating the introduction of Sharia banking in Uganda.[7]
Ownership
Global Trust Bank is 49% owned by Nigeria’s largest insurance company Industrial and General Insurance Company Plc. (IGI). The remaining 51% is owned by National Insurance Corporation (NIC) and Ugandan individuals. NIC itself is 60% owned by IGI. The remaining 40% of NIC is owned by Individual and Institutional Investors in Uganda.
Global Trust Bank is a dynamic, consumer-focused limited liability company. It started operations in November 2008, in Uganda. The bank was established on the principles of service, performance and professionalism. It is the desire of the owners to transform the organisation into a global player in the financial sector.[8][9] In December 2009, the Ugandan Government divested from NIC by floating their shares on the Uganda Securities Exchange (USE).[10] Shares of NIC began trading on the USE in March 2010.
| Global Trust Bank Stock Ownership |
Domestic Branches
As of January 2014, Global Trust Bank has a network of branches at the following locations:[11][12]
- Bwaise Branch - Bwaise, Kawempe Division, Kampala
- Head Office - Kampala Road, Kampala - Main Branch
- Mbale Branch - Mbale, Mbale District
- Mukono Branch - Mukono, Mukono District
- Nateete Branch - Nateete, Lubaga Division, Kampala
- Owino Branch - Nakivubo Road, Central Division, Kampala
- Paidha Branch - Paidha, Nebbi District
- Pallisa Branch - Pallisa, Pallisa District
- Butaleja Branch - Butaleja, Butaleja District
- Kibuku Branch - Kibuku, Kibuku District
- Kikuubo Branch - Central Division, Kampala, Kampala District
- Malaba Branch - Malaba, Tororo District
- Mbarara Branch - Mbarara, Mbarara District
- Nkozi Branch - Nkozi, Mpigi District
- Serere Branch - Serere, Serere District
- Rubirizi District - Rubirizi, Rubirizi District
- Zombo Branch - Zombo, Zombo District (Expected in 2014)
- Amuria Branch - Amuria, Amuria District (Expected in 2014)
- Kamwenge Branch - Kamwenge, Kamwenge District (Expected in 2014)
Regional Network
In January 2009, Global Trust Bank announced plans to expand operations into the neighboring countries of Burundi, Rwanda and Southern Sudan.[13] In November 2009, the bank announced that it would pivot its focus towards small and medium enterprises (SMEs), using Internet-based and mobile-phone platforms. A reduction in the number of branches is underway, but the list of closed branches has not been released.[14] In May 2011, the bank joined Bankcom network, a bank switch system that connects the ATMs of member banks. Global Trust Bank is the 8th Ugandan commercial bank to join the Bankcom switch.[15]
Bank Chief Executive
In December 2008, Richard Byarugaba, a Ugandan with over 25 years of banking experience became the first Managing Director of Global Trust Bank. Prior to that, Byarugaba worked in various capacities at Barclays Bank, Nile Bank Limited and Standard Chartered Bank. He was Chief Operations Officer at Barclays Bank immediately before joining Global Trust Bank. He had held several board positions at Standard Chartered Bank, Nile Bank, Hospice Africa, Palliative Care Association of Uganda and the Uganda Institute of Banking and Financial Services. He is also a past president of the Uganda Institute of Bankers.[16]
In August 2010, following the appointment of Richard Byarugaba as the Executive Director of the National Social Security Fund, Charles Ajaegbu, a native of Nigeria, with over 20 years of banking experience, was appointed Managing Director of the bank.[17] He holds degrees in Law and Business. Prior to that, he served as the Director of Business Development at Global Trust Bank.[18]
As of May 2012, the Managing Director of GTBU is Morenikeji Oludotun Adepoju, a native Nigerian with over 22 years of banking experience in Anglophone and Francophone West Africa.[19]
External sources
Photos
See also
References
|
|---|
| | | | Divisions | |
|---|
| | Neighborhoods | |
|---|
| | Economy | |
|---|
| Notable
landmarks | |
|---|
| | Education | |
|---|
| | Notable people | |
|---|
|
|
