Tropical Bank
| Type | Private |
|---|---|
| Industry | Financial Services |
| Founded | 1973 |
| Headquarters | Kampala, Uganda |
| Key people |
Gerald Sendaula Chairman Osama Rami Serrag Managing Director & CEO[1] |
| Products | Loans, Checking, Savings, Debit Cards, Investments, Mortgages |
| Revenue |
 Aftertax: US$623,000+ (UGX:1.6 billion (2012)[2] |
| Total assets | US$84+ million (UGX:215 billion) (2012) |
| 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.[3]
Overview
As of December 2012, Tropical Bank was a small-sized financial services provider in Uganda. The total bank assets at that time were valued at about US$84 million (UGX 215 billion),[4] with shareholders' equity of over US$30 million (UGX:60 billion).[5]
At that time, the bank was the 15th largest commercial bank in Uganda, based on assets, representing approximately 2% of all bank assets in the country.[6] Tropical Bank is involved in all commercial bank activities with focus on the financing of manufacturing, construction, trade, commerce, education, transportation and tourism.
History
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.[7]
Ownership
99.7% of the share capital of Tropical Bank is owned by the Government of Libya through the Libyan Foreign Bank. The remaining 0.3% is owned by the Government of Uganda through the Ministry of Finance & Economic Development. See Table below:[8]
