Guaranty Trust Bank (Uganda)

Guaranty Trust Bank (Uganda)
Private
Industry Financial Services
Founded 2008
Headquarters Kiira Road, Kampala, Uganda
Key people
 Ramesh Babu
Chairman
Olufemi Martins Omotoso
Managing Director[1]
Products Loans, Savings, Checking, Investments, Debit Cards, Credit Cards
Total assets US$34.5 million (KES:2.9 billion) (2011)
Website Homepage

Guaranty Trust Bank (Uganda), commonly referred to as GT Bank (Uganda) is a commercial bank in Uganda. It is one of the commercial banks licensed by Bank of Uganda, the central bank of that country and the national banking regulator.[2]

Overview

The bank is a small, fast-growing banking institution, providing commercial banking services to individuals and small to medium-sized corporate clients. As of December 2011, the asset valuation of the bank was estimated to be approximately US$34.5 million (KES:2.9 billion), with shareholders' equity of about US$5.13 million (KES:429.3 billion)[3] At that time, the bank was the 19th largest commercial bank in Uganda with about 1% of all bank assets in the country.[4] The bank is a subsidiary of Guaranty Trust Bank (GT Bank), a Nigerian financial services conglomerate, with assets in excess of US$11.5 billion, as of March 2013. GT Bank has subsidiaries in the following countries:[5]

  1. GTBank Kenya - Nairobi, Kenya Kenya
  2. GTBank Uganda - Kampala, Uganda Uganda
  3. GTBank Rwanda - Kigali, Rwanda Rwanda
  4. GTBank Nigeria - Lagos, Nigeria Nigeria
  5. GTBank Côte d'Ivoire - Abidjan, Ivory Coast Ivory Coast
  6. GTBank Gambia - Banjul, Gambia The Gambia
  7. GTBank Ghana - Accra, Ghana Ghana
  8. GTBank Liberia - Monrovia, Liberia Liberia
  9. GTBank Sierra Leone - Freetown, Sierra Leone Sierra Leone
  10. GTBank UK - London, England, United Kingdom United Kingdom

History

The bank was founded in 2008 as Fina Bank (Uganda), a subsidiary of the Fina Bank Group, based in Kenya. In 2013, the Group sold 70% shareholding to Guaranty Trust Bank for a cash consideration of US$100 million.[6] In January 2014, the bank rebranded to its current name to reflect its current shareholding.[7][8]

Ownership

As of January 2014, the shareholding in Guaranty Trust Bank (Uganda) is depicted in the table below:

GT Bank (Uganda) Stock Ownership
Rank Name of OwnerPercentage Ownership
1Guaranty Trust Bank70.00
2 Others30.00
Total100.00

Governance

GT Bank (Uganda) is governed by a nine-person Board of Directors. Ramesh Babu, one of the non-Executive Directors is the Chairman of the Board. Olufemi Martins Omotoso serves as the Managing Director. He is assisted by six other managers in supervising the bank's daily activities.[9]

Branch Network

As of January 2014, GT Bank Uganda has a network of seven branches in various Ugandan urban centers, including the following locations:[10]

  1. Main Branch - 56 Kira Road, Kamwookya, Kampala
  2. Buganda Road Branch - 7 Buganda Road, Kampala
  3. Nakivubo Road Branch - 34-38 Nakivubo Road, Kampala
  4. Ovino Market Branch - 22 Kisenyi Road, Kampala
  5. Industrial Area Branch - 13 Mulwana Road, Kampala[11]
  6. Mbarara Branch - 52-54 High Street, Mbarara
  7. Kyaliwajjala Branch - 31 Namugongo Road, Kyaliwajjala, Kira Municipality

See also

References

  1. ↑ "The Guaranty Trust Bank Board of Directors". GT Bank Uganda. Retrieved 3 May 2014.
  2. ↑ "List of Licensed Commercial Banks In Uganda At 2012" (PDF). Bank of Uganda. Retrieved 3 May 2014.
  3. ↑ "December 2011 Group Financial Report" (PDF). GT Bank East Arica. Retrieved 3 May 2014.
  4. ↑ Asset Allocation Among Ugandan Banks
  5. ↑ "Subsidiaries of Guaranty Trust Bank". GT Bank. Retrieved 3 May 3014. Check date values in: |accessdate= (help)
  6. ↑ Egene, Goddy (25 December 2013). "GTBank Concludes Acquisition of Fina Bank, Kenya". This Day Live. Retrieved 3 May 2014.
  7. ↑ "Fina Bank In Rwanda, Uganda To Be Renamed Very Soon". IGIHE. 26 December 2013. Retrieved 3 May 2014.
  8. ↑ Odyek, John (23 January 2014). "Fina Bank Uganda Sold To Nigerian Bank Group". New Vision. Retrieved 3 May 2014.
  9. ↑ "The Senior Management Team At Guaranty Trust Bank Uganda". GT Bank Uganda. Retrieved 3 May 2014.
  10. ↑ "List of GT Bank Uganda Branches". GT BANK Uganda. Retrieved 3 May 2014.
  11. ↑ Vision, Reporter (1 December 2009). "Fina Bank Targets Industrial Area". New Vision. Retrieved 3 May 2014.

External links