PostBank Uganda

PostBank Uganda is a commercial bank in Uganda, licensed and supervised by the Bank of Uganda, the country's central bank and national banking regulator. The bank received her tier-1 banking license in December 2021.[3][4]

For other uses, see Postbank.

PostBank Uganda
Type100% Government owned
IndustryFinancial services
Founded1926 (1926)
Headquarters4 - 6 Nkrumah Road
Kampala, Uganda
Key people
Andrew Otengo Owiny
Chairperson[1]
Julius Kakeeto
Managing Director / Chief Executive Officer[2]
ProductsLoans, checking, savings, investments
RevenueIncreaseAftertax:UGX:12.2 billion (US$3.17 million) (2021)
Total assetsUGX:745 billion (US$193.3 million), (2021)
Number of employees
700+ (2020)
Websitewww.postbank.co.ug

Before that, PostBank Uganda was classified as a non-bank credit institution, still under the supervision of the Bank of Uganda.[5]

Overview

As of December 2020, PostBank Uganda had total assets worth UGX:745 billion (approx. US$193.3 million), with shareholders' equity worth UGX:117.1 billion (approx. US$30.4 million). At that time customer deposits totaled UGX:507.2 billion (approx. US$131.6 million), and its loan book stood at UGX:454.9 billion (approx. US$118 million).[6][7]

History

PostBank Uganda has been in existence since 1926.[8] It started out as a department in the Post Office. In February 1998 PostBank Uganda Limited was incorporated in accordance with the Communications Act of 1997 to take over the operations of the former Post Office Savings department.

PostBank Uganda was incorporated under the Companies Act in February 1998 as a limited liability company. The bank's operations are supervised by the Bank of Uganda under the Financial Institutions Act. Before December 2021, it was classified as a Tier II Institution (Non-Bank Credit Institution), by the Bank of Uganda (BOU). That month, it received a Tier I banking license from BOU.[5]

Ownership

PostBank Uganda is wholly owned by the Government of Uganda.[8]

Branch network

As of February 2021, PostBank Uganda maintained a branch network of 33 fixed branches and 17 mobile banking units, totaling 50 branches.[9]

Fixed branches
  1. Arua Branch - Arua
  2. Bombo Branch - Bombo
  3. Bugolobi Branch - Bugoloobi, Kampala
  4. City Branch - Nkrumah Road, Kampala (Head Office)
  5. Entebbe Branch - Entebbe
  6. Fort Portal Branch - Fort Portal
  7. Gulu Branch - Gulu
  8. Hoima Branch - Hoima
  9. Iganga Branch - Iganga[10]
  10. Jinja Branch - Jinja
  11. Kabale Branch - Kabale
  12. Kakiri Branch - Kakiri
  13. Kampala Road Branch - Kampala Road, Kampala
  14. Kamwenge Branch - Kamwenge[11]
  15. Kanungu Branch - Kanungu[12]
  16. Kasese Branch - Kasese
  17. Kayunga Branch - Kayunga
  18. Kitgum Branch - Kitgum
  19. Lacor Branch - Lacor Hospital, Gulu
  20. Lira Branch - Lira
  21. Masaka Branch - Masaka
  22. Mbale Branch - Mbale
  23. Mbarara Branch - Mbarara
  24. Mubende Branch - Mubende
  25. Mukono Branch - Mukono[1]
  26. Nakasongola Branch - Nakasongola
  27. Ndeeba Branch - Ndeeba, Kampala
  28. Ntungamo Branch - Ntungamo
  29. Soroti Branch - Soroti
  30. Wandegeya Branch - Wandegeya, Kampala
  31. William Street - Kampala.[13]
  32. Anaka Branch - Nwoya

Mobile branches

The mobile branches are located in the following towns and districts:[14]

  1. Budaka - Budaka District
  2. Bududa - Bududa District
  3. Bukedea - Bukedea District
  4. Butaleja - Butaleja District
  5. Fort Portal - Kabarole District
  6. Kamwenge - Kamwenge District
  7. Kapchorwa - Kapchorwa District
  8. Kibaale - Kibaale District
  9. Kyegegwa - Kyegegwa District[15]
  10. Kyenjojo - Kyenjojo District
  11. Manafwa - Manafwa District
  12. Pallisa - Pallisa District
  13. Sironko - Sironko District
  14. Tororo - Tororo District

Governance

The activities of PostBank Uganda are directed by its board of directors. As of February 2021, the chairperson of the board was Andrew Otenga Owiny.[1] The day-to-day activities of the bank are supervised by a team of ten bank managers, headed by the managing director. As of November 2019, the managing director and chief executive officer is Julius Kakeeto.[2]

See also

References
  1. Daily Monitor Reporter (19 February 2021). "PostBank Gets New Board Chair". Daily Monitor. Kampala. Retrieved 19 February 2021.
  2. Javia Ssebwami (11 November 2019). "Post Bank Uganda announces new managing director". Kampala: PML Daily. Retrieved 3 April 2020.
  3. Amon Katungulu (14 December 2021). "PostBank elevated to tier one commercial bank". Nile Post Uganda. Kampala, Uganda. Retrieved 14 December 2021.
  4. Godfrey Ivudria (16 December 2021). "Post Bank Becomes A Fully-Fledged Commercial Bank". East African Business Week. Kampala, Uganda. Retrieved 17 December 2021.
  5. Dorothy Nakaweesi (15 December 2021). "Post Bank becomes Uganda's 27th commercial bank". Daily Monitor. Kampala, Uganda. Retrieved 16 December 2021.
  6. Javira Ssebwami (26 April 2022). "PostBank posts strong 2021 results; sets new record highs across major fundamentals". PML Daily. Kampala, Uganda. Retrieved 10 August 2022.
  7. George Mangula (26 April 2022). "Post Bank posts 15.8 percent growth in gross profit". TheCooperator.news. Kampala, Uganda. Retrieved 10 August 2022.
  8. "Our History". Retrieved 29 May 2020.
  9. "List of PostBank Branches". PostBank Uganda. Archived from the original on 31 December 2013. Retrieved 29 May 2014.
  10. Kiirya, Donald (21 March 2009). "Central Bank commends PostBank". New Vision. Archived from the original on 31 May 2014. Retrieved 29 May 2014.
  11. Mafaranga, Hope (25 October 2009). "Uganda: Post Bank Goes to Kamwenge". New Vision via AllAfrica.com. Retrieved 29 May 2014.
  12. Baraire, Patson (7 November 2010). "Uganda: Kanungu Gets Its Second Commercial Bank". New Vision via AllAfrica.com. Retrieved 29 May 2014.
  13. Faridah Kulabako (18 February 2011). "Banks Intensify Branch Growth to Raise Customer Base". Daily Monitor. Kampala, Uganda. Retrieved 29 May 2014.
  14. Senyonyi, Taddewo (6 January 2014). "Banking On Wheels: Banks Innovatively Reaching Out to The Unbanked In Remote Areas". The CEO Magazine (Kampala). Retrieved 5 June 2014.
  15. Ghosh, Ishita (28 September 2010). "The Ugandan Millionaire". Theworkzine.com. Retrieved 29 May 2014.
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