Finance Trust Bank Uganda has made significant strides in its operations and growth. The bank has a strong presence in the country, with over 120 branches and a large network of agents across Uganda.
The bank's growth has been driven by its commitment to financial inclusion, with a focus on serving the needs of low-income households and small businesses. This approach has allowed the bank to tap into a large and underserved market.
One of the key factors contributing to the bank's success is its innovative approach to financial services. The bank has introduced a range of products and services that are tailored to the needs of its customers, including mobile banking and microfinance services.
Access Bank Group Acquisition
Access Bank Group, based in Nigeria, agreed to acquire an 80 percent shareholding in Uganda's Finance Trust Bank in January 2024.
The deal involves the acquisition of shares of stock of existing institutional shareholders of FTB, followed by a capital injection to increase FTB's capital base.
The binding deal requires regulatory approval from the Central Bank of Nigeria, the Bank of Uganda, and COMESA.
COMESA approved the deal in May 2024.
The shareholding in the new Access Bank Uganda is expected to be as follows:
The acquisition was expected to be concluded in the first half of 2024.
Branch Network and Operations
Finance Trust Bank has a strong presence in Uganda, with a network of 34 interconnected branches across the country.
As of April 2022, FTB maintained a network of 34 interconnected branches at the following locations.
Here is a breakdown of the branches by region:
- Main Branch - Katwe Road, Katwe, Kampala
- Arua Branch - Arua
- Bombo Road Branch - Bombo Road, Kampala
- Busia Branch - Custom Road, Busia
- Entebbe Branch - Kampala Road, Entebbe
- Fort Portal Branch - Rukidi III Street, Fort Portal
- Gomba Branch - Kanoni, Gomba District
- Iganga Branch - Main Street, Iganga
- Ishaka Branch - Rukungiri Road, Ishaka
- Jinja Branch - Iganga Road, Jinja
- Kalangala Branch - Kalangala
- Kaleerwe Branch - Kaleerwe, Kampala
- Kampala Road Branch - Kampala Road, Kampala
- Kamuli Branch - Kitimbo Road, Kamuli
- Kamwenge Branch - Station Road, Kamwenge
- Kapchorwa Branch - 46 Kapchorwa Road, Kapchorwa
- Kayunga Branch - Main Street, Kayunga
- Kikuubo Branch - Nakivubo Road, Kampala
- Kitintale Branch - Kitintale - Kampala
- Kumi Branch - Ngora Road, Kumi
- Lugazi Branch - Kampala-Jinja Highway, Lugazi
- Lwengo Branch - Mbiriizi, Lwengo District
- Masaka Branch - Edward Avenue, Masaka
- Mbale Branch - Republic Street, Mbale
- Mbarara Branch - High Street, Mbarara
- Mukono Branch - Kampala–Jinja Highway, Mukono
- Nakivubo Branch - 30-32 Mackay Road, Freeman Foundation Building, Kampala
- Nansana Branch - Hoima Road, Nansana
- Nateete Branch - Masaka Road, Nateete
- Ntungamo Branch - Old Kabale Road, Ntungamo
- Owino Branch - Kafumbe Mukasa Road, Kampala
- Pallisa Branch - Kasodo Road, Pallisa
- Soroti Branch - Solot Avenue, Soroti
- Tororo Branch - Bazaar Street, Tororo
Sources
- https://en.wikipedia.org/wiki/Finance_Trust_Bank
- https://techpoint.africa/2024/01/18/access-bank-acquires-stake-ugandas-finance-trust-bank/
- https://www.independent.co.ug/finance-trust-bank-to-sell-80-stake-to-a-nigerian-bank/
- https://www.linkedin.com/posts/financetrustbankuganda_financetrustbank-puttingwomenfirst-trustalternatechannels-activity-7275766920115605504-Futg
- https://businessday.ng/news/article/access-bank-to-acquire-80-stake-in-finance-trust-bank-of-uganda/
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