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NCBA Bank Uganda

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NCBA Bank Uganda
Company typeSubsidiary of NCBA Group Plc
IndustryFinancial services
Founded2012; 12 years ago (2012)
HeadquartersRwenzori House
Nakasero Road
Kampala, Uganda
Key people
Grace Jethro Kavuma
Chairman
Mark Muyobo
Acting Managing Director[1]
ProductsLoans, savings, checking, investments, debit cards, credit cards
RevenueIncreaseAftertax:UGX:27 billion (US$7.187 million) (2023)[2]
Total assetsUGX:854 billion (US$227.34 million) (2023)[2]
WebsiteHomepage

NCBA Bank Uganda Limited (commonly called NCBA Bank Uganda or shortened to NCBU), 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.[3]

Overview

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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 31 December 2023, the total assets of the bank were valued at UGX:854 billion (US$227.324 million).[2] 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.[4]

History

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The bank was founded in 2012 as NC Bank Uganda and received a commercial banking license from the Bank of Uganda in April 2012.[5] The bank opened for business in May 2012.[6]

In September 2019, the two parent companies of NC 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.[7]

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$149 million), as of 31 March 2020.[8][9]

Management

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Anthony Ndegwa, formerly managing director of CBA Uganda Limited, was appointed managing director of NCBA Bank Uganda, effective June 2020.[9] In December 2020, Anthony Ndegwa left the bank and Mark Muyobo was appointed as managing director and CEO, in acting capacity.[1]

Branches

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As of May 2024, the bank maintained 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. Forest Mall Branch: Forest Mall, Lugogo, Kampala.
  4. Kafu Road Branch: Twed Towers, 10 Kafu Road, Nakasero, Kampala.
  5. Namanve Branch - Namanve Industrial Business Park.[11]

See also

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References

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  1. ^ a b Muhereza Kyamutetera (3 December 2021). "Anthony Ndegwa exits NCBA Bank Uganda; replaced by Mark Muyobo as Ag Managing Director & CEO". CEO Magazine Uganda. Kampala, Uganda. Retrieved 31 January 2022.
  2. ^ a b c The Independent Uganda (7 May 2024). "NCBA Bank profit after tax up 17% to Shs27bn". The Independent (Uganda). Kampala, Uganda. Retrieved 9 May 2024.
  3. ^ Bank of Uganda (31 March 2023). "List of Licensed Commercial Banks As At 31 March 2023" (PDF). Bank of Uganda. Kampala, Uganda. Retrieved 9 May 2024.
  4. ^ George Obulutsa (27 September 2019). "Kenya Central Allows Merger of Lenders NIC and CBA Group". Reuters.com. Retrieved 9 May 2024.
  5. ^ "Bank of Uganda Licenses Two New Banks In 2012". Bank of Uganda. Retrieved 4 May 2014.
  6. ^ Nation Correspondent (April 2012). "NIC to open Uganda branch in growth drive". Daily Nation. Nairobi. Retrieved 14 August 2015. {{cite web}}: |author= has generic name (help)
  7. ^ George Obulutsa (27 September 2019). "Kenya Central Allows Merger of Lenders NIC and CBA Group". Reuters.com. Archived from the original on 28 September 2019. Retrieved 28 September 2019.
  8. ^ Christine Kasimiire (1 June 2020). "NC, CBA Merger To Create Shs548 Billion Bank". Daily Monitor. Kampala. Retrieved 2 June 2020.
  9. ^ a b Ali Twaha (23 June 2020). "Bank Mergers: NCBA Bank Unveiled". New Vision. Kampala. Retrieved 11 July 2020.
  10. ^ NCBA Bank Uganda (May 2024). "Branches of NCBA Bank Uganda Limited". NCBA Bank Uganda Limited. Kampala, Uganda. Retrieved 25 May 2024.
  11. ^ Javira Ssebwami (24 May 2024). "NCBA Bank opens new branch in Namanve Industrial Business Park". PML Daily. Kampala, Uganda. Retrieved 25 May 2024.
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