Cairo Bank Uganda

Cairo Bank Uganda Limited (CBUL), formerly known as Cairo International Bank (CIB), is a commercial bank in Uganda.[1] It is licensed by the Bank of Uganda, the central bank and national banking regulator.[2] It is a subsidiary of Egypt-based banking group, Banque du Caire Group.[1]

Cairo Bank Uganda Limited
TypePrivate, Subsidiary of Banque du Caire
IndustryFinancial services
Founded1995 (1995)
HeadquartersPlot no. 16, Mackinnon Road - Nakasero, Kampala, Uganda
Key people
Sylvia Jagwe Owachi
Ag. Managing Director
Immaculate Irumba
Chief Operating Officer
ProductsPersonal banking: checking, savings, kids and teens, investments, loans, debit cards

Business banking: checking, savings, investments, loans
Corporate & institutional banking

Treasury: foreign exchange, bid bonds
Number of employees
146 (2020)
Websitecbu.co.ug

Headquarters location

Cairo Bank Uganda has its headquarters at Lotis Towers, at Plot 16 Mackinnon Road, Nakasero Hill, in the central business district of Kampala, Uganda's capital city.[3] The geographical coordinates of the bank's headquarters are: 0°19'17.0"N, 32°35'05.0"E (Latitude:0.321389; Longitude:32.584722).[4]

Overview

CBUL focuses on serving small and medium businesses (SMEs), educational institutions, non-governmental organizations and corporate entities. In 2020, the bank re-branded and turned its focus on meeting the banking needs of SMEs. Cairo Bank Uganda Limited is a fully owned subsidiary by Banque du Caire (BDC), an Egypt-based financial services conglomerate with total assets in excess of US$12 billion, as of September 2020.[1][5]

As of December 2019 the total assets of Cairo Bank Uganda were valued at USh189 billion (US$51.4 million) with shareholders' equity of USh52.3 billion (US$14.2 million).[1]

History

Incorporated as Cairo International Bank in 1995, the bank began operations in the same year following the issuance of a commercial banking license by the Bank of Uganda. In 2020, Banque du Caire, which owned 62.4 percent of the shares of stock of the Ugandan subsidiary, acquired the 24 percent shareholding owned by Bank Misr and the 13.6 percent owned by Bank of Egypt, to become the sole owner of 100 percent of the tock of the Ugandan bank.[6]

Management board

Cairo Bank Uganda (CBU) is governed by an eight-person board of directors. Sylvia Jagwe Owachi is the Acting Managing Director. She replaced Ahmad Maher Nada, the previous CEO, who left CBU and take up an assignment at Banque du Caire in Egypt, effective January 2022. He served as MD/CEO at CBU for three and one half years.[1][5][7]

Branch network

CBU has the following branches, as of September 2020:[8]

1. Main Branch : Lotis Towers, Plot 16 - Mackinnon Road, Nakasero, Kampala.

2. Kampala Road Branch: Greenland Towers, Plot 30 Kampala Road, Kampala.

3. Kikuubo Branch: Shamba Complex, Kyagwe Road, Kampala.

4. Garden City Branch: Garden City Shopping Mall, Yusuf Lule Road, Kampala.

5. Bugoloobi Branch: Plot 1-5 Spring Close, Bugoloobi, Kampala.

6. Bweyogerere Branch: Bweyogerere, Kira Town.

7. Mbarara Branch: Rwebikona Building, Mbarara – Fort Portal Road, Mbarara.

Rebranding

In September 2020, Cairo International Bank Limited changed its name to Cairo Bank Uganda Limited, relocated to new headquarter premises and changed focus to SME customers.[1][5][9]

See also

References
  1. Daily Monitor (2 September 2020). "Cairo Bank Changes Name, Shifts Focus". Daily Monitor. Kampala. Retrieved 10 January 2021.
  2. Bank of Uganda (30 June 2020). "List of Licensed Commercial Banks As At 30 June 2020" (PDF). Kampala: Bank of Uganda. Retrieved 10 January 2021.
  3. Cairo Bank Uganda (September 2020). "Contact Us: Head Office Location". Kampala: Cairo Bank Uganda. Retrieved 10 January 2020.
  4. Google (10 January 2021). "Location of Headquarters and Main Branch of Cairo Bank Uganda, Kampala, Uganda" (Map). Google Maps. Google. Retrieved 10 January 2021.
  5. Taddewo William Senyonyi (1 September 2020). "Cairo International Bank Rebrands To Cairo Bank Uganda, Promises Customers 'New Innovative Products'". Kampala: Business Focus Uganda. Retrieved 10 January 2021.
  6. Cairo Bank Uganda (1 September 2020). "About CBU: Our History". Kampala: Cairo Bank Uganda Limited. Retrieved 10 January 2021.
  7. Javira Ssebwami (17 December 2021). "Cairo Bank Uganda bids emotional farewell to MD Ahmed Maher". PML Daily. Kampala, Uganda. Retrieved 17 December 2021.
  8. Cairo Bank Uganda (1 September 2020). "Branches of Cairo Bank Uganda". Kampala: Cairo Bank Uganda Limited. Retrieved 10 January 2021.
  9. Nicholas Kajoba (September 2020). "Cairo International Bank Rebrands". New Vision. Kampala, Uganda. Retrieved 13 May 2022.
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