PostBank Uganda
Type | Private |
---|---|
Industry | Financial services |
Founded | 1926 |
Headquarters | 4 - 6 Nkrumah Road Kampala, Uganda |
Key people | Grace Bakunda Chairperson[1] Julius Kakeeto Managing Director[2] |
Products | Loans, Checking, Savings, Investments |
Revenue | ![]() |
Total assets | UGX:491 billion (US$135.33 million) (2019) |
Number of employees | 700+ (2020) |
Website | Homepage |
PostBank Uganda is a non-bank credit institution in Uganda. Its activities are supervised by the Bank of Uganda, the country's central bank and national banking regulator.[3]
Overview[]
As of December 2019, PostBank Uganda had total assets worth US$135.33 million (UGX:491 billion), with US$86.4 million (UGX:314 billion), in depositor funds. At that time, the bank served in excess of one million customers, through 47 brick-and-mortar branches, 52 ATMs, 14 mobile bank vans and 98 banking agency locations.[4][5]
History[]
PostBank Uganda has been in existence since 1926.[6] 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. It is classified as a Tier II Institution (Non-Bank Credit Institution), by the Bank of Uganda.[3]
PostBank Uganda subscribes to the Depositors Insurance Scheme at Bank of Uganda. If PostBank Uganda fails, the bank's depositors are insured up to USh10 million (approximately US$2,700.00) in 2020, per eligible account. In 2009, PostBank Uganda applied to the Bank of Uganda to become a fully licensed commercial bank.[7]
In February 2016, Ugandan media sources reported that the government was planning to merge Postabank Uganda with Pride Microfinance Limited, to form an agricultural bank.[8]
Ownership[]
PostBank Uganda is wholly owned by the Government of Uganda.[6]
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[]
- Arua Branch - Arua
- Bombo Branch - Bombo
- Bugoloobi Branch - Bugoloobi, Kampala
- City Branch - Nkrumah Road, Kampala (Head Office)
- Entebbe Branch - Entebbe
- Fort Portal Branch - Fort Portal
- Gulu Branch - Gulu
- Hoima Branch - Hoima
- Iganga Branch - Iganga[10]
- Jinja Branch - Jinja
- Kabale Branch - Kabale
- Kakiri Branch - Kakiri
- Kampala Road Branch - Kampala Road, Kampala
- Kamwenge Branch - Kamwenge[11]
- Kanungu Branch - Kanungu[12]
- Kasese Branch - Kasese
- Kayunga Branch - Kayunga
- Kitgum Branch - Kitgum
- Lacor Branch - Lacor Hospital, Gulu
- Lira Branch - Lira
- Masaka Branch - Masaka
- Mbale Branch - Mbale
- Mbarara Branch - Mbarara
- Mubende Branch - Mubende
- Mukono Branch - Mukono[1]
- Nakasongola Branch - Nakasongola
- Ndeeba Branch - Ndeeba, Kampala
- Nkrumah Road Branch - Nkrumah Road, Kampala
- Ntungamo Branch - Ntungamo
- Soroti Branch - Soroti
- Wandegeya Branch - Wandegeya, Kampala
- William Street Branch - William Street Kampala
- Koome Island Branch - Koome Island[13]
Mobile branches[]
The mobile branches are located in the following towns and districts:[14]
- Budaka - Budaka District
- Bududa - Bududa District
- Bukedea - Bukedea District
- Butaleja - Butaleja District
- Fort Portal - Kabarole District
- Kamwenge - Kamwenge District
- Kapchorwa - Kapchorwa District
- Kibaale - Kibaale District
- Kyegegwa - Kyegegwa District[15]
- Kyenjojo - Kyenjojo District
- Manafwa - Manafwa District
- Pallisa - Pallisa District
- Sironko - Sironko District
- 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[]
- ^ Jump up to: a b c Daily Monitor Reporter (19 February 2021). "PostBank Gets New Board Chair". Daily Monitor. Kampala. Retrieved 19 February 2021.
- ^ Jump up to: a b Javia Ssebwami (11 November 2019). "Post Bank Uganda announces new managing director". Kampala: PML Daily. Retrieved 3 April 2020.
- ^ Jump up to: a b Bank of Uganda (30 June 2020). "List of Licensed Credit Institutions In Uganda As At 30 June 2020" (PDF). Kampala: Bank of Uganda. Retrieved 21 July 2020.
- ^ Muhereza Kyamutetera (1 October 2020). "Q&A: One year as Managing Director at Post Bank Uganda, what has Julius Kakeeto been up to?". Kampala: CEO Magazine Uganda. Retrieved 26 December 2020.
- ^ PostBank Uganda (1 May 2019). "PostBank Uganda: Summary Financial Statements For The Year Ended 31 December 2018" (PDF). Daily Monitor. Kampala. Retrieved 3 April 2020.
- ^ Jump up to: a b "Our History". Retrieved 29 May 2020.
- ^ Josephine Maseruka (30 March 2009). "PostBank Launches Land Loan". New Vision. Kampala. Archived from the original on 30 May 2014. Retrieved 29 May 2014.
- ^ Newz.ug (27 February 2016). "Government to merge Post Bank and Pride Microfinance to form an agricultural Bank". Kampala: Newz.ug. Archived from the original on 3 April 2016. Retrieved 3 April 2016.
- ^ "List of PostBank Branches". PostBank Uganda. Archived from the original on 31 December 2013. Retrieved 29 May 2014.
- ^ Kiirya, Donald (21 March 2009). "Central Bank commends PostBank". New Vision. Archived from the original on 31 May 2014. Retrieved 29 May 2014.
- ^ Mafaranga, Hope (25 October 2009). "Uganda: Post Bank Goes to Kamwenge". New Vision via AllAfrica.com. Retrieved 29 May 2014.
- ^ Baraire, Patson (7 November 2010). "Uganda: Kanungu Gets Its Second Commercial Bank". New Vision via AllAfrica.com. Retrieved 29 May 2014.
- ^ Kulabako, Faridah (18 February 2011). "Banks Intensify Branch Growth to Raise Customer Base". Daily Monitor. Retrieved 29 May 2014.
- ^ 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.
- ^ Ghosh, Ishita (28 September 2010). "The Ugandan Millionaire". Theworkzine.com. Retrieved 29 May 2014.
External links[]
- Financial services companies of Uganda
- Financial services companies established in 1926
- Kampala District
- 1926 establishments in Uganda
- Government-owned companies of Uganda
- Postal savings system