Uganda Development Bank Limited Information and Services

Uganda Development Bank Limited is a key player in Uganda's financial sector, providing a range of services to its clients.

The bank offers personal loans to individuals, which can be used for various purposes such as buying a home, financing a business, or paying for education expenses.

These loans are designed to be flexible, with repayment terms that can be customized to suit individual needs.

One of the bank's main services is its commercial lending, which provides financing to small and medium-sized enterprises (SMEs) in Uganda.

Uganda Development Bank Limited has a strong focus on supporting local businesses, recognizing their potential to drive economic growth and job creation.

The bank also offers financial advisory services to its clients, helping them to make informed decisions about their financial investments.

Uganda Development Bank Limited has a network of branches across the country, making it easily accessible to clients in different regions.

Uganda Development Bank Limited, or UDBL, has a rich history that dates back to 1972. The bank was established during this time and has since undergone significant changes.

In 1979, the political leadership in Uganda changed, allowing UDBL to secure large credits from external financiers. This influx of funds enabled the bank to shift its focus to financing medium and long-term projects in agriculture, manufacturing, and tourism.

Between 1997 and 2001, UDBL was restructured, recapitalized, and re-organized as a limited liability company, wholly owned by the government of Uganda.

UDBL, Uganda's first development finance institution, was established in 1972 by the government to promote development in various sectors, particularly agriculture, industry, tourism, housing, and commerce.

The main goal of UDBL is to finance and promote development in these sectors, with a focus on supporting businesses and projects that drive economic growth.

In 2018, the government secured a $20 million loan from the African Development Bank to capitalize UDBL, primarily to lend to the agricultural sector for mechanization and value addition.

As of 2023, UDBL's shareholders' equity stood at USh 1.38 trillion, with total assets of USh 1.67 trillion.

UBDL was established in 1972, marking the beginning of its journey as a development bank in Uganda. The bank's early years were quite different from what it would become, but that all changed in 1979.

The political leadership in Uganda changed in 1979, and this shift allowed UDBL to access large credits from external financiers. These financiers included the African Development Bank, the International Development Association, the European Investment Bank, the European Economic Community, the Organization of Petroleum Exporting Countries, and the Arab Bank for Economic Development in Africa (Banque Arabe pour le Développement Economique en Afrique) (BADEA).

With these funds, UDBL's focus shifted to financing medium and long-term projects in agriculture, manufacturing, and tourism. Between 1997 and 2001, the bank underwent significant changes that would impact its future operations.

Uganda Development Bank Limited offers a range of banking services to cater to the diverse needs of its customers.

The bank provides a wide range of products and services, including loans, deposits, and other financial solutions. These products and services are designed to support the economic development of Uganda and its people.

The bank's operations are guided by a strong management team with extensive experience in the banking industry. This team is responsible for overseeing the bank's day-to-day activities and ensuring that they are carried out efficiently.

The bank has a network of branches and agencies across Uganda, making it easily accessible to customers. This widespread presence enables the bank to reach a broader customer base and provide services to people in different parts of the country.

Uganda Development Bank Limited is committed to maintaining the highest standards of ethics and integrity in its operations. This commitment is reflected in the bank's policies and procedures, which are designed to promote transparency and accountability.

Uganda Development Bank Limited has received a prestigious rating from Fitch Ratings, assigning a National Long-term Rating of ‘AAA (uga)’ with a Stable Outlook in April 2024.

This rating is the highest attainable on Uganda's national scale, making it a significant achievement for the bank.

UDBL's exceptional performance has also earned it recognition in the form of awards, with the bank being named "The Regional Bank of The Year - East Africa" at the 18th African Bankers Awards in May 2024.

At the same ceremony, UDBL won the Silver Award (A+ Rating) in the category of Development Finance Institutions for diligently following the guidelines of the Association of African Development Finance Institutions (AADFI).

UDBL received a National Long-term Rating of ‘AAA (uga)’ from Fitch Ratings in April 2024, which is the highest attainable on Uganda’s national scale. This rating is a testament to UDBL's strong financial position.

Fitch Ratings assigned a Stable Outlook to UDBL, indicating that the company's financial health is expected to remain stable in the future.

UDBL has received recognition for its outstanding performance in the banking industry. In May 2024, the bank was named "The Regional Bank of The Year - East Africa" at the 18th African Bankers Awards in Nairobi, Kenya.

This prestigious award is a testament to UDBL's commitment to excellence and its ability to provide top-notch services to its customers.

Uganda Development Bank Limited regularly hosts investment symposiums to promote economic growth and development. The bank's third investment symposium was launched in partnership with Operation Wealth Creation on February 11, 2022.

The symposium aimed to attract investors and provide them with opportunities to grow their businesses in Uganda. This event is a testament to the bank's commitment to supporting local businesses and promoting economic development.

The bank's partnership with Operation Wealth Creation is a significant collaboration that aligns with the bank's goals of promoting economic growth and development in Uganda.

The COP 29 climate finance meeting was a crucial event that brought together world leaders to discuss climate finance.

The meeting aimed to mobilize climate finance and support developing countries in their efforts to adapt to the impacts of climate change.

The meeting was hosted by a prominent organization, which has a long history of advocating for climate action and sustainable development.

The organization has been working tirelessly to promote climate finance and has made significant strides in recent years.

One notable achievement was the launch of a new climate finance initiative, which aims to mobilize $100 billion in climate finance for developing countries by 2025.

The Third Investment Symposium is a significant event that's worth noting. It was launched by the Uganda Development Bank Limited in partnership with Operation Wealth Creation on February 11, 2022.

The symposium is a collaborative effort between two key organizations. The Uganda Development Bank Limited is a key player in the country's economic development.

The event is expected to bring together various stakeholders. It's a great opportunity for networking and learning from experts in the field.

The symposium is part of the bank's ongoing efforts to promote investment in the country. It's a testament to the bank's commitment to driving economic growth.

The event is scheduled to take place on a specific date, but unfortunately, that information is not available.

Uganda Development Bank Limited has its headquarters in Kampala, the capital city of Uganda. It was established in 2007.

The bank offers a range of financial services, including deposit accounts, loans, and trade finance. Its main objective is to promote economic development in Uganda.

The bank has a strong presence in the country, with branches in major towns and cities.

Let's take a look at the number of employees at some of the banks we've researched. 124 people are employed at Uganda Development Bank.

The Uganda Development Bank has a relatively small workforce compared to some of the other banks we've looked at.

I couldn't find information on the exact number of employees at the Bank of Uganda, but I do know that it's a significant institution in the country's financial sector.

The Bank of Uganda is the country's central bank and is responsible for regulating and supervising the banking sector.

Uganda Development Bank is based in Kampala, Central Region. This is where you can find their main office, making it easy to access their services.

The bank's location in Kampala is convenient for both locals and visitors, as the city is well-connected to other parts of the country.

The NAICS code is a six-digit number that classifies businesses by industry. It's used to identify and track businesses in the US and Canada.

The NAICS code for Uganda Development Bank is 52211, but it can also be represented by other codes such as 52, 522110, 5221, or 522. These codes all refer to the same industry.

Understanding the NAICS code can be helpful when searching for specific businesses or industries online.

If you're looking to find the SIC code for a specific bank, you can use the SIC code lookup feature. The SIC codes for Uganda Development Bank are [60, 602].

In 2013, a report revealed financial impropriety by board members and senior managers at UDBL, resulting in financial loss. This led to the termination of both the board and management team involved in the fraud.

The investigation into the financial impropriety continued as of June 2014.

As of August 2017, the management team of Uganda Development Bank was led by Patricia Ojangole as the Managing Director.

Patricia Ojangole was the Managing Director of Uganda Development Bank, a position she held as of August 2017.

The management team also included Joshua Allan Mwesiga as Director, Strategy & Corporate Affairs, and Denis Owens Ochieng as Director of Finance & Business Operations.

Mahamoud Andama served as the Director Investment, and Stephen Hamya was the Chief Internal Auditor.

Sophie Nakandi held the role of Bank Secretary/Head Legal, overseeing the bank's legal affairs.

Patricia Ojangole was at the helm of the bank's management team, guiding the institution's direction and decision-making processes.

Financial impropriety was revealed at UDBL, a government-owned company in Uganda, through an audit in 2013. The audit showed that board members and senior managers were involved in financial loss.

The investigation led to the termination of the board and management team involved in the fraud. This happened in June 2014.

The case highlights the importance of proper management and oversight in government-owned companies. It's a reminder that even in institutions meant to serve the public good, corruption can occur.

Here are some key details about the controversy: