Tropical Bank
| Private | |
| Industry | Financial Services |
| Founded | 1973 |
| Headquarters | Kampala, Uganda |
Key people |
Gerald Sendaula Chairman Osama Rami Serrag Managing Director & CEO[1] |
| Products | Loans, Checking, Savings, Debit Cards, Investments, Mortgages |
| Revenue |
 Aftertax: US$623,000+ (UGX:1.6 billion (2012) |
| Total assets | US$84+ million (UGX:215 billion) (2012) |
| Slogan | Simple & Professional |
| Website |
www |
Tropical Bank 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.[2]
Overview
As of December 2012, Tropical Bank was a small financial services provider in Uganda. The bank's assets at that time were valued at about UGX:215 billion.[3] Shareholders' equity in 2009 was UGX:60 billion.[4]
History
The bank was established in 1973 as the Arab Libyan Bank for Foreign Trade & Development. In 1994, the name was changed to Tropical Africa Bank Limited. In 2006, the bank re-branded to Tropical Bank.[5]
Ownership
99.7 percent of the share capital of Tropical Bank is owned by the Libyan government through the Libyan Foreign Bank. The remaining 0.3 percent is owned by the Government of Uganda through the Ministry of Finance & Economic Development.[6]
| Rank | Name of Owner | Percentage Ownership |
|---|---|---|
| 1 | Libyan Foreign Bank | 99.7 |
| 2 | Government of Uganda | 0.3 |
Governance
Tropical Bank is governed by a six-person board of directors, of whom two are executive directors and four are non-executive. Gerald Sendawula, one of the non-executive directors, is the chairman of the board. Abduelhadi Taher Giuma is the managing director. Three other managers assist him in running the bank.[7]
Branch network
As of May 2014, Tropical Bank had a network of branches in the central and eastern regions of Uganda. The bank's plans to open branches in neighboring countries in East Africa have been postponed.[8][9]
- Kampala Road Branch - 27 Kampala Road, Kampala
- Nakivubo Branch - 34-38 Nakivubo Road, Kampala
- Ntinda Branch - 1 Kimera Road, Ntinda, Kampala
- Jinja Branch - 17 Main Street, Jinja
- Masaka Branch - 2 Birch Avenue, Masaka
- Kansanga Branch - 5277 Ggaba Road, Kansanga, Kampala
- Kawempe Branch - 3144 Kampala-Gulu Road, Kawempe, Kampala
- Oasis Mall Branch - Yusuf Lule Road, Kampala
- Kakira Branch - Downtown Area, Kakira[10]
- Katwe Branch - Muganzirwazza Shopping Mall, Muteesa I Road, Katwe, Kampala
- Kaliro Branch - 45 Zibondo Road, Kaliro
- Mbale Branch - 37 Republic Road, Mbale
- Lugogo Bypass Branch - Lugogo Office Park, 54 Lugogo Bypass, Kampala. Head Office[11]
See also
References
- ↑ "Members of Tropical Bank Board of Directors". Tropical Bank. Retrieved 4 May 2014.
- ↑ BOU (June 2015). "List of Licensed Commercial Banks As At June 2015" (PDF). Kampala: Bank of Uganda (BOU). Retrieved 18 December 2015.
- ↑ Businge, Julius (26 April 2013). "Uganda: Tropical Bank Posts Sh1.6 Billion Net Profit". The Independent (Uganda) via AllAfrica.com. Retrieved 4 May 2014.
- ↑ Ariko, Charles (12 May 2009). "Saving culture improves". New Vision. Retrieved 4 May 2014.
- ↑ "About Tropical Bank". Tropical Bank. Retrieved 4 May 2014.
- ↑ Sanya, Samuel (6 March 2012). "Uganda Returns Tropical Bank To Libyan Control". New Vision (Kampala). Retrieved 4 May 2014.
- ↑ TB (January 2015). "Executive Management of Tropical Bank". Tropical Bank (TB). Retrieved 30 April 2015.
- ↑ Ojambo, Fred (13 August 2008). "Tropical Bank of Uganda To Start Operations In Kenya In 2010". Bloomberg News. Retrieved 4 May 2014.
- ↑ "List of Tropical Bank Branches". Tropical Bank. Retrieved 4 May 2014.
- ↑ Ntaratambi, Sheba; Mukasa, Henry (2 April 2011). "Uganda: Tropical Bank Assures Public On Deposits". New Vision via AllAfrica.com. Retrieved 4 May 2014.
- ↑ TB, . (2014). "Tropical Bank Headquarters Gets New Home". Tropical Bank (TB). Retrieved 19 June 2015.
External links
- Tropical Bank Website
- Photo of Tropical Bank Headquarters
- Tropical Bank Total Assets In December 2011
