Finance Trust Bank
Finance Trust Bank (FTB), commonly called Finance Trust, is a commercial bank in Uganda. It is licensed by the Bank of Uganda, the central bank and national banking regulator.[3]
| Type | Private |
|---|---|
| Industry | Financial services |
| Founded | 1984 |
| Headquarters | Plot 121 & 115, Block 6, Finance Trust Building, Katwe, Kampala, Uganda |
Key people | Evelyn Kigozi Kahiigi Chairperson[1] Annet Nakawunde Mulindwa CEO[1] |
| Products | Loans, savings |
 (Aftertax) UGX:9.16 billion (US$2.588 million) (2021)[2] | |
| Total assets | UGX:393.9 billion (US$111.3 million) (2021)[2] |
Number of employees | 610 (2015) |
| Website | financetrust |
Location
The headquarters of FTB are located on Plot 121 & 115, Block 6, Finance Trust Building, Katwe, in the Central Division of Kampala, Uganda's capital city. The coordinates of the institution's headquarters are 0°18'08.0"N, 32°34'35.0"E (Latitude:0.302223; Longitude:32.576403).[4]
History
FTB was founded in 1984 as Uganda Women's Finance Trust Limited. The objective was to provide financial services to low income people in Uganda, especially women.[5][6] Sixty percent of the bank's customers are women.[7] Subsequently, the institution rebranded to Uganda Finance Trust Limited, a Tier III financial institution, recognized as a microfinance deposit-taking institution under the supervision of the Bank of Uganda.[8] On 11 November 2013, the Bank of Uganda granted the bank a full commercial banking license. The institution then rebranded to its current name.[9]
Overview
As of 31 December 2021, FTB serviced over 500,000 savers and over 29,000 borrowers through a network of 34 interconnected branches, located in all regions of the country. The bank's total customer deposits were UGX:183.4 billion (US$51.8 million). At that time, the bank's total assets were valued at UGX:393.9 billion (approx. US$111.3 million), with shareholders' equity of UGX:61.2 billion (approx. US$17.29 million).[2]
Ownership
The stock ownership of the institution as of May 2018 is summarized in the table below.[10]
| Rank | Name of Owner | Percentage Ownership |
|---|---|---|
| 1 | Uganda Women's Trust (Uganda) | 20.10 |
| 2 | Oikocredit Ecumenical Development Cooperative Society (Netherlands) | 19.60 |
| 3 | Progression Eastern African Micro Finance Equity Fund (Mauritius) | 18.30 |
| 4 | RIF North 1 (Mauritius) | 18.30 |
| 5 | Investment & Partner Afrique Entrepreneurs (Mauritius) | 14.20 |
| 6 | Ugandan Women Entrepreneurs (Uganda) | 9.50 |
| Total | 100.0 | |
Branch network
As of April 2022, FTB maintained a network of 34 interconnected branches at the following locations:[11]
- Main Branch - Katwe Road, Katwe, Kampala
- Arua Branch - Arua
- Bombo Road Branch - Bombo Road, Kampala
- Busia Branch - Custom Road, Busia
- Entebbe Branch - Kampala Road, Entebbe
- Fort Portal Branch - Rukidi III Street, Fort Portal
- Gomba Branch - Kanoni, Gomba District
- Iganga Branch - Main Street, Iganga
- Ishaka Branch - Rukungiri Road, Ishaka
- Jinja Branch - Iganga Road, Jinja
- Kalangala Branch - Kalangala
- Kaleerwe Branch - Kaleerwe, Kampala
- Kampala Road Branch - Kampala Road, Kampala
- Kamuli Branch - Kitimbo Road, Kamuli
- Kamwenge Branch - Station Road, Kamwenge
- Kapchorwa Branch - 46 Kapchorwa Road, Kapchorwa
- Kayunga Branch - Main Street, Kayunga
- Kikuubo Branch - Nakivubo Road, Kampala
- Kitintale Branch - Kitintale - Kampala
- Kumi Branch - Ngora Road, Kumi
- Lugazi Branch - Kampala-Jinja Highway, Lugazi
- Lwengo Branch - Mbiriizi, Lwengo District
- Masaka Branch - Edward Avenue, Masaka
- Mbale Branch - Republic Street, Mbale
- Mbarara Branch - High Street, Mbarara
- Mukono Branch - Kampala–Jinja Highway, Mukono
- Nakivubo Branch - 30-32 Mackay Road, Freeman Foundation Building, Kampala
- Nansana Branch - Hoima Road, Nansana
- Nateete Branch - Masaka Road, Nateete
- Ntungamo Branch - Old Kabale Road, Ntungamo
- Owino Branch - Kafumbe Mukasa Road, Kampala
- Pallisa Branch - Kasodo Road, Pallisa
- Soroti Branch - Solot Avenue, Soroti
- Tororo Branch - Bazaar Street, Tororo
Governance
Evelyn Kigozi Kahiigi is the chairperson of the board of directors. She is one of the non-executive directors of the bank. There are ten other board members, including Annet Nakawunde Mulindwa, the managing director, and Annette Kiggundu is the only other executive director on the board.[1]
References
- Finance Trust Bank (28 April 2022). "Finance Trust Bank: About Us: Board of Directors". Finance Trust Bank. Kampala. Retrieved 28 April 2022.
- Muhereza Kyamutetera (27 April 2022). "Putting Women's Financial Inclusion First: Finance Trust Bank's 2021 Net Profit Grows 57 Per Cent". CEO Magazine Uganda. Kampala, Uganda. Retrieved 28 April 2022.
- Bank of Uganda (31 March 2017). "List of licensed Commercial Banks as at March 31, 2017" (PDF). Kampala: Bank of Uganda (BOU). Retrieved 18 August 2017.
- Google (14 November 2016). "Location of the Headquarters of Finance Trust Bank" (Map). Google Maps. Google. Retrieved 14 November 2016.
- TFB. "Trust Finance Bank About Us". Kampala: Trust Finance Bank (FTB). Retrieved 14 November 2016.
- Lyatuu, Justus (11 December 2016). "Uganda: Finance Trust, MTN, Airtel in Mobile Money Deal". The Observer (Uganda) via AllAfrica.com. Kampala. Retrieved 17 August 2017.
- OCO (31 July 2017). "Finance Trust Bank: Banking Services for Women". London: Oikocredit (OCO). Retrieved 18 August 2017.
- Ssempijja, David (21 February 2011). "Banks advised to embrace technology". New Vision. Kampala. Retrieved 14 November 2016.
- Mugabe, David (22 December 2013). "Banking remains attractive with Finance Trust as latest entrant". New Vision. Kampala. Retrieved 14 November 2016.
- Finance Trust Bank (28 May 2018). "Finance Trust Bank: OwnerShip and Capital Share". Kampala: Finance Trust Bank. Retrieved 28 May 2018.
- Finance Trust Bank (28 April 2022). "Branch Network of Finance Trust Bank". Finance Trust Bank. Kampala, Uganda. Retrieved 28 April 2022.
