NCBA Bank Uganda

NCBA Bank Uganda (NCBU), whose complete name is NCBA Bank Uganda Limited, 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.[4]

NCBA Bank Uganda
Private
IndustryFinancial services
Founded2012 (2012)
HeadquartersRwenzori House
Nakasero Road
Kampala, Uganda
Key people
Timothy Masembe
Chairman[1]
Sam Ntulume
Managing Director[2]
ProductsLoans, savings, checking, investments, debit cards, credit cards
RevenueAftertax:UGX:1.3 billion (2015)[3]
Total assetsUGX:202.2 billion (US$55 million) (2015)[1]
WebsiteHomepage

Overview

NCBA Bank Uganda is a retail financial services provider in Uganda, focusing on meeting the banking needs of small and medium enterprises and large corporations. As of December 2015, the total assets of the bank were valued at UGX:202.2 billion (US$55 million), with shareholders' equity of UGX:41.4 billion (US$11.2 million).[1] The bank is a wholly owned subsidiary of the NCBA Group Plc, headquartered in Nairobi, Kenya, with subsidiaries in Kenya, Tanzania, Rwanda, Ivory Coast and Uganda.[5]

History

The bank was founded in 2012 and received a commercial banking license from the Bank of Uganda in April 2012.[6] The bank opened for business in May 2012.[7]

In September 2019, the two parent companies of NIC Bank Uganda and Commercial Bank of Africa (Uganda), both based in Kenya, received regulatory approval to merge their businesses, thereby merging their subsidiaries in Uganda to form NCBA Bank Uganda, effective 1 October 2019, subject to the approval of the Bank of Uganda.[8]

In June 2020, Bank of Uganda gave consent for the merger of NC Bank Uganda with CBA Uganda. The merger process is expected to be complete by 31 September 2020. The combined bank had total assets of USh548 billion, (approx. US$146 million), as of 31 March 2020.[9]

Branches

As of March 2019, the bank maintained 3 networked branches at the following locations:[10]

  1. Nakasero Branch: Rwenzori House, Nakasero Road, Nakasero, Kampala Main Branch
  2. Bugoloobi Branch: 2nd Floor Village Mall, Bugoloobi, Kampala
  3. Market Plaza Branch: Market Street, Kampala.

See also

References
  1. NC Bank Uganda (6 April 2016). "NC Bank Uganda Limited: Summarized Financial Statements for the year ended 31 December 2015" (PDF). Kampala: NC Bank Uganda Limited. Retrieved 11 March 2019.
  2. Koigi, Bob (27 June 2016). "NC Bank Uganda appoints Sam Ntulume as Managing Director". Nairobi: Africa Business Communities. Retrieved 11 March 2019.
  3. Muhumuza, Mark Keith (15 April 2015). "NC Bank profits up as loan defaults hit Shs10 billion". Daily Monitor. Kampala. Retrieved 15 April 2016.
  4. Bank of Uganda (15 June 2020). "List of Licensed Commercial Banks As At June 2020" (PDF). Kampala: Bank of Uganda. Retrieved 22 June 2020.
  5. George Obulutsa (27 September 2019). "Kenya Central Allows Merger of Lenders NIC and CBA Group". Reuters.com. Retrieved 28 September 2019.
  6. "Bank of Uganda Licenses Two New Banks In 2012". Bank of Uganda. Retrieved 4 May 2014.
  7. Nation Correspondent (April 2012). "NIC to open Uganda branch in growth drive". Daily Nation. Nairobi. Retrieved 14 August 2015.
  8. George Obulutsa (27 September 2019). "Kenya Central Allows Merger of Lenders NIC and CBA Group". Reuters.com. Retrieved 28 September 2019.
  9. Christine Kasimiire (1 June 2020). "NC, CBA Merger To Create Shs548 Billion Bank". Daily Monitor. Kampala. Retrieved 2 June 2020.
  10. NC Bank Uganda (2019). "Branches of NC Bank Uganda Limited". Kampala: NC Bank Uganda Limited. Retrieved 11 March 2019.
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