Tropical Bank

Tropical Bank
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 Increase Aftertax: US$623,000+ (UGX:1.6 billion (2012)
Total assets US$84+ million (UGX:215 billion) (2012)
Slogan Simple & Professional
Website Homepage

Tropical Bank is a commercial bank in Uganda. It is one of the commercial banks licensed by the Bank of Uganda, the country's central bank and national banking regulator.[2]

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),[3] with shareholders' equity of over US$30 million (UGX:60 billion).[4] At that time, the bank was the 16th largest commercial bank in Uganda, based on assets, representing approximately 1.5% of all bank assets in the country.[5] Tropical Bank is a retail bank, that 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 bank re-branded to "Tropical Bank".[6]

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.[7]

Tropical Bank Stock Ownership
Rank Name of OwnerPercentage Ownership
1Libyan Foreign Bank99.7
2Government of Uganda0.3

Governance

Tropical Bank is governed by a six person Board of Directors of whom two are Executive Directors and four are non-Executive. Mr. Gerald Sendawula, one of the non-Executive Directors, is the Chairman of the Board. Abduelhadi Taher Giuma is the Managing Director. He has three other managers who assist him in running the bank.[8]

Branch network

As of May 2014, Tropical Bank has a network of branches in the Central and Eastern regions of Uganda. The bank had plans to open branches in neighboring countries in East Africa, although those plans were put on hold.[9][10]

  1. Head Office - 27 Kampala Road, Kampala
  2. Nakivubo Branch - 34-38 Nakivubo Road, Kampala
  3. Ntinda Branch - 1 Kimera Road, Ntinda, Kampala
  4. Jinja Branch - 17 Main Street, Jinja
  5. Masaka Branch - 2 Birch Avenue, Masaka
  6. Kansanga Branch - 5277 Ggaba Road, Kansanga, Kampala
  7. Kawempe Branch - 3144 Kampala-Gulu Road, Kawempe, Kampala
  8. Oasis Mall Branch - Yusuf Lule Road, Kampala
  9. Kakira Branch - Downtown Area, Kakira[11]
  10. Katwe Branch - Muganzirwazza Shopping Mall, Muteesa I Road, Katwe, Kampala
  11. Kaliro Branch - 45 Zibondo Road, Kaliro
  12. Mbale Branch - 37 Republic Road, Mbale

See also

References

  1. ↑ "Members of Tropical Bank Board of Directors". Tropical Bank. Retrieved 4 May 2014.
  2. ↑ "List of Licensed Commercial Banks In Uganda" (PDF). Bank of Uganda. Retrieved 4 May 2014.
  3. ↑ Businge, Julius (26 April 2013). "Uganda: Tropical Bank Posts Sh1.6 Billion Net Profit". The Independent (Uganda) via AllAfrica.com. Retrieved 4 May 2014.
  4. ↑ Ariko, Charles (12 May 2009). "Saving Culture Improves". New Vision. Retrieved 4 May 2014.
  5. ↑ Asset Allocation Among Ugandan Banks
  6. ↑ "About Tropical Bank". Tropical Bank. Retrieved 4 May 2014.
  7. ↑ Sanya, Samuel (6 March 2012). "Uganda Returns Tropical Bank To Libyan Control". New Vision (Kampala). Retrieved 4 May 2014.
  8. ↑ TB, . (January 2015). Tropical Bank (TB) http://www.trobank.com/executive-management/. Retrieved 30 April 2015. Missing or empty |title= (help)
  9. ↑ Ojambo, Fred (13 August 2008). "Tropical Bank of Uganda To Start Operations In Kenya In 2010". Bloomberg News. Retrieved 4 May 2014.
  10. ↑ "List of Tropical Bank Branches". Tropical Bank. Retrieved 4 May 2014.
  11. ↑ Sheba Ntaratambi, and Henry Mukasa (2 April 2011). "Uganda: Tropical Bank Assures Public On Deposits". New Vision via AllAfrica.com. Retrieved 4 May 2014.

External links