Tropical Bank

Tropical Bank is a commercial bank in Uganda. It is licensed and supervised by the Bank of Uganda, the country's central bank and national banking regulator.[3]

Tropical Bank
Private
IndustryFinancial services
Founded1973
HeadquartersKampala, Uganda
Key people
Ambassador Kiwe Sebunya
chairman
Abdulaziz M. Mansur
managing director & chief executive officer[1]
ProductsLoans, checking, savings, debit cards, investments, mortgages
Revenue Aftertax: UGX:23.9 billion (2019)[2]
Total assetsUGX:316 billion (2019)[2]
Websitewww.trobank.com

Overview

As of December 2019, Tropical Bank was a small financial services provider in Uganda. The bank's assets at that time were UGX:316 billion (approximately US$84 million).[2]

History

The bank was established in 1973 as the Arab Libyan Bank for Foreign Trade & Development. In 1994, the name was changed to Tropical Africa Bank Limited. In 2006, the bank re-branded to Tropical Bank.[4]

Ownership

99.7 percent of the share capital of Tropical Bank is owned by the Libyan government through the Libyan Foreign Bank. The remaining 0.3 percent is owned by the government of Uganda through the Ministry of Finance & Economic Development.[5]

Governance

Tropical Bank is governed by a six-person board of directors, of whom two are executive directors and four are non-executive. Amb. Moses Kiwe Ssebunya , one of the non-executive directors, is the chairman of the board. Abdulaziz M.A. Mansur is the managing director and Dennis Mugagga Kakeeto is the Executive Director . Three other managers assist him in running the bank.[1]

Branch network

As of May 2019, Tropical Bank had a network of branches in the Central, Western and Eastern regions of Uganda. The bank's plans to open branches in neighboring countries in East Africa have been postponed.[6][7]

  1. Kampala Road Branch - 27 Kampala Road, Kampala (Main Branch)
  2. Nakivubo Branch - 34-38 Nakivubo Road, Kampala
  3. Ntinda Branch - 1 Kimera Road, Ntinda, Kampala
  4. Jinja Branch - 17 Main Street, Jinja
  5. Masaka Branch - 2 Birch Avenue, Masaka
  6. Kansanga Branch - 5277 Ggaba Road, Kansanga, Kampala
  7. Kawempe Branch - 3144 Kampala-Gulu Road, Kawempe, Kampala
  8. Oasis Mall Branch - Yusuf Lule Road, Kampala
  9. Kakira Branch - Downtown Area, Kakira[8]
  10. Katwe Branch - Muganzirwazza Shopping Mall, Muteesa I Road, Katwe, Kampala
  11. Kaliro Branch - 45 Zibondo Road, Kaliro
  12. Mbale Branch - 37 Republic Road, Mbale
  13. Mukono Branch -15 next to baclaysMukono
  14. Mbarara Branch -2/4 Adit Mall Johnson Street Mbarara
  15. Lugogo Bypass Branch - Lugogo Office Park, 54 Lugogo Bypass, Kampala], Head Office[9]

See also

References
  1. Tropical Bank (30 December 2019). "Members of Tropical Bank Executive Management Team". Kampala: Tropical Bank. Retrieved 30 December 2019.
  2. Ashita Chopra (6 May 2020). "Tropical Bank drafts capital restoration plan". Daily Monitor. Kampala. Retrieved 6 May 2020.
  3. Bank of Uganda (31 March 2016). "Bank of Uanda: List of Licensed Commercial Banks As At March 2016" (PDF). Kampala: Bank of Uganda. Retrieved 23 August 2016.
  4. "About Tropical Bank". Tropical Bank. Retrieved 4 May 2014.
  5. Samuel Sanya (6 March 2012). "Uganda Returns Tropical Bank To Libyan Control". New Vision. Kampala. Retrieved 4 May 2014.
  6. Ojambo, Fred (13 August 2008). "Tropical Bank of Uganda To Start Operations In Kenya In 2010". Bloomberg News. Retrieved 4 May 2014.
  7. "List of Tropical Bank Branches". Tropical Bank. Retrieved 4 May 2014.
  8. Ntaratambi, Sheba; Mukasa, Henry (2 April 2011). "Uganda: Tropical Bank Assures Public On Deposits". New Vision via AllAfrica.com. Archived from the original on 7 July 2012. Retrieved 4 May 2014.CS1 maint: BOT: original-url status unknown (link)
  9. TB (2014). "Tropical Bank Headquarters Gets New Home". Tropical Bank (TB). Retrieved 19 June 2015.
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