PTA Bank

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Eastern and Southern African Trade and Development Bank
Type Private
Industry Finance
Founded 1985
Headquarters Chaussée Prince Louis,
Rwagasore
Bujumbura, Burundi
Key people Melaku Kifle, Chairman
Admassu Yilma Tadesse, President & CEO[1]
Products International Trade and Development Finance
Revenue Increase Net US$34.2+ million (2011)[2]
Total assets US$1.37 billion (2011)[3]
Owner(s) Governments of
COMESA
AfDB
China
Website Homepage

Preferential Trade Area Bank, commonly known as the PTA Bank, is a trade and development financial institution in Africa. The PTA Bank is the financial arm of COMESA, but membership is open to non-COMESA States and other institutional shareholders.[4]

Overview

As of December 2011, the bank was a large financial institution with an asset base in excess of US$1.37 billion. The bank had nineteen shareholders, with shareholders funds in excess of US$210.24 million.[5]

History

The Eastern and Southern African Trade and Development Bank, also known as PTA Bank, was established on 6 November 1985 following the provisions of the Treaty of 1981 establishing the Preferential Trade Area (PTA), which has since been transformed into the Common Market for Eastern and Southern Africa (COMESA), as a financial arm of the integration arrangement.[6]

Shareholders

The PTA Bank membership comprises eighteen member states, seventeen of which are COMESA members. China was the first non-regional member state to join the PTA Bank in 2000. The African Development Bank (AfDB) is the sole institutional shareholder. Both China and the AfDB each have a 12.3% shareholding in the PTA Bank. As of May 2009, the following countries and institutions are shareholders in PTA Bank.[7]

Location

The headquarters of PTA Bank are located at: Chaussée Prince Louis, Rwagasore, Bujumbura, Burundi.[8] The bank also maintains a regional office at 22nd and 23rd Floor, NSSF Building, Bishops Road, Nairobi, Kenya,[9] The other regional office of the bank is located at 13th Floor, Social Security Centre, Harare, Zimbabwe. The Nairobi office is responsible for the northern region of the banks geographical area of service. The Bujumbura Headquarters office is responsible for the central region of the bank's service area. The Harare office is responsible for the southern service area, including the islands of Mauritius and Seychelles.[10]

Board of directors

As of February 2012, the following are the members of the board of directors of the PTA Bank: [11]

Management team

As of February 2012, the following make up the senior management team of the PTA Bank. [12]

Credit Rating

In June 2012, PTA Bank was rated Ba1 by Moody's Rating Services.[13]

External links

See also

References

  1. ↑ Admassu Yilma Tadesse Appointed CEO In January 2012
  2. ↑ December 2011 Net Profit
  3. ↑ Net Assets At December 2011
  4. ↑ PTA Bank is the financial Arm of COMESA
  5. ↑ Audited December 2010 Annual Report
  6. ↑ About PTA Bank
  7. ↑ Shareholders of PTA Bank
  8. ↑ PTA Bank Headquarters Located in Bujumbura, Burundi
  9. ↑ PTA Bank Northern Region Office Located in Nairobi
  10. ↑ Harare Regional Office Responsible for Southern Service Area
  11. ↑ Members of the PTA Bank Board
  12. ↑ Senior Managers at PTA Bank
  13. ↑ Ratings By Moody's In 2012
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