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Fina Bank (Uganda)

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Fina Bank (Uganda)

Fina Bank (Uganda)
Type Private
Industry Financial Services
Founded 2008
Headquarters Buganda Road, Kampala, Uganda
Key people Ramesh Babu
Chairman
Pooran Chad Kukreja
Chief Executive Officer[1]
Products Loans, Savings, Checking, Investments, Debit Cards, Credit Cards
Total assets US$34.5 million (KES:2.9 billion) (2011)
Website Homepage

Fina Bank (Uganda) is a commercial bank in Uganda. It is one of the commercial banks licensed by Bank of Uganda, the central bank of that country and the national banking regulator.[2]

Overview

The bank is a small, fast-growing banking institution, providing commercial banking services to individuals and small to medium sized corporate clients. As of December 2011, the asset valuation of Fina Bank (Uganda) was estimated to be approximately US$34.5 million (KES:2.9 billion), with shareholders' equity of about US$5.13 million (KES:429.3 billion)[3] At that time, the bank was the 19th largest commercial bank in Uganda with about 1% of all bank assets in the country.[4] The bank is a member of the Fina Bank Group, which includes Fina Bank (Kenya) and Fina Bank (Rwanda).

Fina Bank Group

The Fina Bank Group includes the following subsidiaries:[5]

History

Fina Bank (Uganda) is a subsidiary of the Fina Bank Group. The Group's history dates back to January 1986. At that time the institution was known as Finance International Limited, a non-bank financial institution. In subsequent years, the institution changed its name to Finance Institution of Africa and then to Fina. In 1995, the institution received an unrestricted commercial banking license from the Central Bank of Kenya and started operations as Fina Bank Kenya Limited, in February 1996. In 2004, Fina Bank Group opened a subsidiary in Rwanda; Fina Bank (Rwanda). Fina Bank (Uganda) received a commercial banking license from the Bank of Uganda in 2007 and started operations in 2008.[6]

Ownership

As of December 2011, the shareholding in Fina Bank of (Uganda) is depicted in the table below:[7]

Fina Bank Uganda Stock Ownership
Rank Name of Owner Percentage Ownership
1 Fina Bank Group 30.00
2 Others 70.00
Total 100.00

As at December 31, 2012, Fina Bank Group acquired 100% of Fina Bank Uganda through a share swap deal with existing minority shareholders. [8]

Governance

Fina Bank (Uganda) is governed by a nine-person Board of Directors. Robert Binyon, one of the non-Executive Directors is the Chairman of the Board.[9] Charles Nalyaali is the Chief Executive Officer, while Shamsher Khemani, one of the Executive Directors, serves as the Managing Director. He is assisted by eleven (11) other managers in supervising the bank's daily activities.[10]

Branch Network

As of May 2012, Fina Bank (Uganda) has a network of seven branches in various Ugandan urban centers, including the following locations::[11]

  1. Main Branch - 53 Kira Road, Kamwookya, Kampala
  2. Buganda Road Branch - 7 Buganda Road, Kampala
  3. Nakivubo Road Branch - 34-38 Nakivubo Road, Kampala
  4. Ovino Market Branch - 22 Kisenyi Road, Kampala
  5. Industrial Area Branch - 13 Mulwana Road, Kampala[12]
  6. Mbarara Branch - 52-54 High Street, Mbarara
  7. Kyaliwajjala Branch - 31 Namugongo Road, Kyaliwajjala, Kira Municipality

External links

  • Fina Bank (Uganda)
  • Fina Bank (Kenya)
  • Fina Bank (Rwanda)

See also

References

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