Imperial Bank Uganda
 | |
| Private | |
| Industry | Financial Services |
| Founded | 2011 |
| Headquarters |
6 Hannington Road Kampala, Uganda |
Key people |
Sarah Nanziri Bagalaaliwo Chairman Mr. R.R Chandramouli Managing Director |
| Products | Loans, checking, savings, investments, debit cards |
| Revenue |
 Aftertax:US$764,100 (UGX:1.97 billion) (2013) |
| Total assets | US$87 million (UGX:214.65 billion) (2013) |
| Parent | Imperial Bank Limited |
| Website | Homepage |
Imperial Bank Uganda, commonly known as Imperial Bank, is a commercial bank in Uganda. It is one of the commercial banks licensed by Bank of Uganda, the central bank and national banking regulator.[1]
Overview
The bank is a small-sized retail bank that caters to both individuals and corporate clients. In December 2013, the bank's total assets were valued at approximately US$87 million (UGX:214.65 billion), with shareholders' equity of approximately US$13.7 million (UGX:34.2 billion).[2] Imperial Bank Kenya is one of ten Kenyan commercial banks with intentions of expanding their operations into the rest of East Africa. They are:[3]
- ABC Bank (Kenya) - ABC Capital Bank
- Bank of India Kenya - Bank of India Uganda
- Commercial Bank of Africa - Commercial Bank of Africa (Uganda)
- Equity Group Holdings Limited - Equity Bank Uganda Limited
- Guaranty Trust Bank - East Africa - Guaranty Trust Bank (Uganda)
- Imperial Bank Kenya - Imperial Bank Uganda
- Kenya Commercial Bank Group - KCB Uganda
- NIC Bank Group - NC Bank Uganda
- I&M Bank Group - I&M Bank (Uganda): In development
- Cooperative Bank of Kenya - Cooperative Bank of Uganda - In development.[4]
History
Imperial Bank Uganda was established in 2011,[5] by two major investors, Mukwano Group, a diversified Ugandan business and manufacturing conglomerate, and Imperial Bank Kenya, a medium-sized financial services provider, based in Nairobi, Kenya, with total assets of about US$498 million (KES:43 billion), as of December 2013.[6]
Ownership
The stock of the bank is privately held. The detailed shareholding in Imperial Bank Uganda is depicted in the table below:[7]
| Rank | Name of Owner | Percentage Ownership |
|---|---|---|
| 1 | Imperial Bank Limited of Kenya | 63.5 |
| 2 | Amazal Holdings Limited of Uganda | 36.5 |
| Total | 100.00 | |
Branch network
As of May 2014, the locations of the bank's branches included the following:[8]
- Main Branch - 6 Hannington Road, Kampala
- Mukwano Mall Branch - Mukwano Shopping Mall, 23-31 Rashid Khamis Road, Kampala
- Nakivubo Branch - Mukwano Centre Shopping Arcade, Nakivubo Place Road, Kampala
- Kikuubo Branch - 24 Kikuubo Lane, Kampala
- Acacia Mall Branch - Acacia Shopping Mall, Acacia Avenue, Kololo, Kampala
Governance
Sarah Nanziri Bagalaaliwo, a non-executive director of the bank, is the chairperson of the board of directors. R. R. Chandramouli is the managing director.[9]
On October 13, 2015, The Bank of Uganda (BoU) announced that it was taking over management of the bank following the Central Bank of Kenya's decision to place its parent, Imperial Bank, under receivership. However, BoU clarified that the Ugandan branch would remain open and that operations would continue under the control of the regulator.[10]
See also
References
- ↑ BOU (June 2015). "List of Licensed Commercial Banks As At June 2015" (PDF). Kampala: Bank of Uganda (BOU). Retrieved 18 December 2015.
- ↑ "Shareholding In Imperial Bank Uganda". Imperial Bank Uganda. Retrieved 4 May 2014.
- ↑ Juma, Victor (7 February 2011). "Mid-Sized Banks Seek to Cash In on Regional Growth". Business Daily Africa. Retrieved 4 May 2014.
- ↑ Reuters, . (13 August 2014). "Kenya's Co-op Bank To Expand In The Region After Solid First Half". Reuters © Thomson Reuters 2014. Retrieved 21 August 2014.
- ↑ Nantaba, Eriosi (7 February 2011). "Imperial Bank Set To Open In Uganda". East Africa Business Week (Kampala) via Archive.today. Retrieved 4 May 2014.
- ↑ IBKL, . (2014). "Audited 31 December 2013 Financial Statement" (PDF). Imperial Bank Kenya Limited (IBKL). Retrieved 21 August 2014.
- ↑ "Ownership of Imperial Bank Uganda". Imperial Bank Uganda. Retrieved 4 May 2014.
- ↑ "Branches of Imperial Bank Uganda In May 2014". Imperial Bank Group. Retrieved 4 May 2014.
- ↑ IBG (17 September 2015). "Members of the Board of Directors". Imperial Bank Group (IBG). Retrieved 17 September 2015.
- ↑ "CBK places Imperial Bank under receivership, bond listing suspended". Business Daily Africa. Nation Media Group. 2015-10-13. Retrieved 2015-10-13.
