National Bank of Commerce (Uganda) Ownership and Operations

The National Bank of Commerce (Uganda) has a unique ownership structure. It is a commercial bank that is 100% owned by the Government of Uganda.

The bank's operations are primarily focused on serving the needs of the Ugandan market. It operates through a network of branches and agencies across the country.

The bank's operations are overseen by a board of directors, which is responsible for setting the overall strategy and direction of the bank.

The National Bank of Commerce (Uganda) has a robust structure that enables it to provide a wide range of financial services to its customers.

The bank's ownership structure is a key aspect of its structure, with the government of Uganda holding a significant stake in the bank.

The bank's board of directors oversees the overall direction and strategy of the bank, ensuring that it operates in a responsible and profitable manner.

The bank has a board of directors that oversees its operations. The board plays a crucial role in ensuring the bank's governance.

Amos Nzeyi stepped down from the post of chairman of the board in October 2009, a position he held since 1992. Ahmed Dagher took over as chairman in October 2009.

Ahmed Darwish Almarar became the Chairman of the Board in July 2011, replacing Ahmed Dagher. In October 2011, Mathew Rukikaire was reported to be the Chairman of NBCU.

The ownership of National Bank of Commerce (NBC) has undergone a significant change. Abu Dhabi investors have taken over as the majority shareholders.

The Bank of Uganda approved Abu Dhabi investors as the majority shareholders in 2011. This came after the investors agreed to acquire a 76% stake in the bank three years prior.

Ahmed Darwish Almarar, the new bank chairman, first acquired 25.4% shares under Emirates Link for Strategic Alliance. He later increased his shares to 49% with approval from the Central Bank.

The new ownership has brought in experienced directors from the Middle East and European banking industries. This move is expected to bring high standards of banking services to Uganda.

The new board plans to implement successful programs from the Middle East to revolutionize the banking sector in Uganda.

The National Bank of Commerce (Uganda) has a robust bank operations system in place. It offers a range of banking services to its customers, including cash management, trade finance, and foreign exchange services.

The bank's cash management services include cash collection, disbursement, and reconciliation. This helps businesses manage their cash flow efficiently and effectively.

The bank's trade finance services include import and export finance, letter of credit, and bill of exchange. These services facilitate international trade and commerce in Uganda.

The Uganda National Bank of Commerce has been acquired by Abu Dhabi investors.

The acquisition was approved by the Bank of Uganda in July 2011, allowing the investors to take over a 76% stake in the bank.

The bank is expected to be operational in the last quarter of the year under new management.

The new chairman, Ahmed Darwish Almarar, initially acquired 25.4% shares through Emirates Link for Strategic Alliance and then increased his stake to 49%.

The Central Bank responded positively after a thorough check on the credentials of the new owners and their proposed board.

The new board consists of people with experience from the Middle East and European banking industries.

Islamic banking is unique in that it extends long-and-short-term loans to individuals, small-scale businesses, and corporations interest-free.

The new owners plan to introduce high standards banking services and turn Uganda into the headquarters of Islamic banking operations in East Africa.

They aim to revolutionize the banking sector in Uganda by implementing successful programs from their bank's network in the Middle East.

The National Bank of Commerce (Uganda) has a significant presence in Kampala, with its headquarters located on Yusuf Lule Road.

The bank's main branch is situated on Yusuf Lule Road, making it easily accessible for customers in the area.

One of the notable branches is the Yusuf Lule Branch, located at the same address as the headquarters, 1 Yusuf Lule Road, Kampala.

The bank also has a branch on Parliament Avenue, which is a major thoroughfare in Kampala.

Here is a list of some of the bank's networked branches:

The Kabale Branch is located on Kabale Road in the town of Kabale, which is a significant distance from Kampala.

The liquidation of National Bank of Commerce (NBC) in Uganda was a swift process. The Bank of Uganda (BOU) took over NBC last Thursday, physically seizing and closing all its branches before a court injunction was acquired a day later.

Crane Bank, which assumed the assets and deposits of NBC, allowed former NBC depositors to access their deposits. In fact, Crane Bank issued deposits to former NBC clients and provided them with Crane Bank ATM cards.

The interim Constitutional Court order in favor of NBC was deemed "negative in nature" by the BOU, which stated that it couldn't reverse the liquidation process. Commercial lawyer Julius Galisonga agreed, saying that the order couldn't nullify the revocation and sale of NBC's assets.

The revocation of a bank's license is a serious matter, and it's exactly what happened to National Bank of Commerce (Uganda) in 2012. The Bank of Uganda, the Central Bank and national banking regulator, revoked the banking license of National Bank of Commerce (Uganda) on September 27, 2012.

This decision was made under the Financial Institutions Act 2004, specifically under Sections 17(f), 89(2)(f) & (7)(c) and 99(1). The bank's deposits and branches were then taken over by Crane Bank, as administrator, on behalf of Bank of Uganda.

The revocation of the license led to the immediate winding up of National Bank of Commerce (Uganda)'s affairs. This was a result of the bank's struggles, including in-fighting among shareholders and a proposed merger with International Investment House.

Here are the key dates related to the revocation of National Bank of Commerce (Uganda)'s license:

The revocation of a bank's license is a significant event that can have far-reaching consequences for the bank, its customers, and the wider financial system.

The liquidation of National Bank of Commerce (NBC) has continued despite an interim Constitutional Court order in its favor.

The Bank of Uganda (BOU) has stated that the order is "negative in nature" and cannot reverse the liquidation process.

A ring of youth clad in Crane Bank T-shirts and armed Police officers were staged at the entrance to the NBC Kampala branch.

Clients of NBC were seen trickling into the bank's Cargen House branch before being re-directed to the Crane Bank head office for processing.

Crane Bank boss A. R. Kalan said they are issuing deposits to former NBC clients and giving them Crane Bank ATM cards.

The sale of NBC's assets and deposits to Crane Bank means that former NBC depositors have unlimited access to their entire deposits at Crane Bank, not restricted to any ceiling.

Commercial lawyer Julius Galisonga noted that the interim order cannot nullify the revocation and sale of NBC's assets.

The National Bank of Commerce in Uganda is a commercial bank that provides banking services to individuals and small to medium-sized business enterprises. As of April 2009, it was the 22nd largest commercial bank in the country.

Its asset valuation at that time was estimated to be around US$20 million. This represents a small fraction of the country's total bank assets, accounting for just 0.25% of all bank assets in the country.