NCBA Bank Uganda Limited (commonly called NCBA Bank Uganda or shortened to NCBAU) 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
NCBA Bank Uganda is a Corporate led Commercial Bank in Uganda, focusing on meeting the banking needs of Large Corporates and large corporations. , 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
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
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
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
- Banking in Uganda
- List of banks in Uganda
- Economy of Uganda
External links
References
- Muhereza Kyamutetera. Anthony Ndegwa exits NCBA Bank Uganda; replaced by Mark Muyobo as Ag Managing Director & CEO CEO Magazine Uganda, 3 December 2021, retrieved 31 January 2022^
- The Independent Uganda. NCBA Bank profit after tax up 17% to Shs27bn The Independent (Uganda), 7 May 2024, retrieved 9 May 2024^
- Bank of Uganda. List of Licensed Commercial Banks As At 31 March 2023 Bank of Uganda, 31 March 2023, retrieved 9 May 2024^
- George Obulutsa. Kenya Central Allows Merger of Lenders NIC and CBA Group Reuters.com, 27 September 2019, retrieved 9 May 2024^
- Bank of Uganda Licenses Two New Banks In 2012 Bank of Uganda, retrieved 4 May 2014^
- Nation Correspondent. NIC to open Uganda branch in growth drive Daily Nation, April 2012, retrieved 14 August 2015^
- George Obulutsa. Kenya Central Allows Merger of Lenders NIC and CBA Group Reuters.com, 27 September 2019, retrieved 28 September 2019^
- Christine Kasimiire. NC, CBA Merger To Create Shs548 Billion Bank Daily Monitor, 1 June 2020, retrieved 2 June 2020^
- Ali Twaha. Bank Mergers: NCBA Bank Unveiled New Vision, 23 June 2020, retrieved 11 July 2020^
- NCBA Bank Uganda. Branches of NCBA Bank Uganda Limited NCBA Bank Uganda Limited, May 2024, retrieved 25 May 2024^
- Javira Ssebwami. NCBA Bank opens new branch in Namanve Industrial Business Park PML Daily, 24 May 2024, retrieved 25 May 2024^