PostBank Uganda is a commercial bank in Uganda, licensed and supervised by the Bank of Uganda, the country's central bank and national banking regulator. The bank received her tier-1 banking license in December 2021.
Before that, PostBank Uganda was classified as a non-bank credit institution, still under the supervision of the Bank of Uganda.
Overview
, PostBank Uganda had total assets worth
UGX:745 billion (approx. US$193.3 million), with shareholders' equity worth UGX:117.1 billion (approx. US$30.4 million). At that time customer deposits totaled UGX:507.2 billion (approx. US$131.6 million), and its loan book stood at UGX:454.9 billion (approx. US$118 million).
History
PostBank Uganda has been in existence since 1926. It started out as a department in the Post Office. In February 1998 PostBank Uganda Limited was incorporated in accordance with the Communications Act of 1997 to take over the operations of the former Post Office Savings department.
PostBank Uganda was incorporated under the Companies Act in February 1998 as a limited liability company. The bank's operations are supervised by the Bank of Uganda under the Financial Institutions Act. Before December 2021, it was classified as a Tier II Institution (Non-Bank Credit Institution), by the Bank of Uganda (BOU). That month, it received a Tier I banking license from BOU.
Ownership
PostBank Uganda is wholly owned by the Government of Uganda.
Branch network
As of February 2021, PostBank Uganda maintained a branch network of 33 fixed branches and 17 mobile banking units, totaling 50 branches.
Fixed branches
Arua Branch - Arua
Bombo Branch - Bombo
Bugolobi Branch - Bugoloobi, Kampala
City Branch - Nkrumah Road, Kampala (Head Office) Entebbe Branch - Entebbe Fort Portal Branch - Fort Portal Gulu Branch - Gulu Hoima Branch - Hoima Iganga Branch - Iganga Jinja Branch - Jinja Kabale Branch - Kabale Kakiri Branch - Kakiri Kampala Road Branch - Kampala Road, Kampala Kamwenge Branch - Kamwenge Kanungu Branch - Kanungu Kasese Branch - Kasese Kayunga Branch - Kayunga Kitgum Branch - Kitgum Lacor Branch - Lacor Hospital, Gulu Lira Branch - Lira Masaka Branch - Masaka Mbale Branch - Mbale Mbarara Branch - Mbarara Mubende Branch - Mubende Mukono Branch - Mukono Nakasongola Branch - Nakasongola Ndeeba Branch - Ndeeba, Kampala Ntungamo Branch - Ntungamo Soroti Branch - Soroti Wandegeya Branch - Wandegeya, Kampala William Street - Kampala. Anaka Branch - Nwoya
Mobile branches
The mobile branches are located in the following towns and districts: Budaka - Budaka District Bududa - Bududa District Bukedea - Bukedea District Butaleja - Butaleja District Fort Portal - Kabarole District Kamwenge - Kamwenge District Kapchorwa - Kapchorwa District Kibaale - Kibaale District Kyegegwa - Kyegegwa District Kyenjojo - Kyenjojo District Manafwa - Manafwa District Pallisa - Pallisa District Sironko - Sironko District Tororo - Tororo District
Governance
The activities of PostBank Uganda are directed by its board of directors. , the chairperson of the board was Andrew Otenga Owiny. The day-to-day activities of the bank are supervised by a team of ten bank managers, headed by the managing director. As of November 2019, the managing director and chief executive officer is Julius Kakeeto.