PostBank Uganda

Overview

As of December 2012, PostBank Uganda was a small, but growing credit institution whose assets were estimated at US$54 million (UGX:135.7 billion).

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. It is classified as a Tier II Institution (Non-Bank Credit Institution), by the Bank of Uganda.

PostBank Uganda subscribes to the Depositors Insurance Scheme at Bank of Uganda. If PostBank Uganda fails, the bank's depositors are insured up to Sh 3 million (approximately US$1,600.00) in 2009, per eligible account. In 2009, PostBank Uganda applied to the Bank of Uganda to become a fully licensed commercial bank.

In February 2016, Ugandan media sources reported hat the government was planning to merge Postabank Uganda with Pride Microfinance Limited, to form an agricultural bank.

Ownership

PostBank Uganda is wholly owned by the Government of Uganda.

Branch network

As of May 2014, PostBank Uganda maintained a branch network of 32 fixed branches and 17 mobile banking units, totaling 49 branches.

Fixed branches

1. Arua Branch - Arua
2. Bombo Branch - Bombo
3. Bugoloobi Branch - Bugoloobi, Kampala
4. City Branch - Nkrumah Road, Kampala (Head Office)
5. Entebbe Branch - Entebbe
6. Fort Portal Branch - Fort Portal
7. Gulu Branch - Gulu
8. Hoima Branch - Hoima
9. Iganga Branch - Iganga
10. Jinja Branch - Jinja
11. Kabale Branch - Kabale
12. Kakiri Branch - Kakiri
13. Kampala Road Branch - Kampala Road, Kampala
14. Kamwenge Branch - Kamwenge
15. Kanungu Branch - Kanungu
16. Kasese Branch - Kasese
17. Kayunga Branch - Kayunga
18. Kitgum Branch - Kitgum
19. Lacor Branch - Lacor Hospital, Gulu
20. Lira Branch - Lira
21. Masaka Branch - Masaka
22. Mbale Branch - Mbale
23. Mbarara Branch - Mbarara
24. Mubende Branch - Mubende
25. Nakasongola Branch - Nakasongola
26. Ndeeba Branch - Ndeeba, Kampala
27. Nkrumah Road Branch - Nkrumah Road, Kampala
28. Ntungamo Branch - Ntungamo
29. Soroti Branch - Soroti
30. Wandegeya Branch - Wandegeya, Kampala
31. William Street Branch - William Street Kampala
32. Koome Island Branch - Koome Island

Mobile branches

The mobile branches are located in the following towns and districts:

1. Budaka - Budaka District
2. Bududa - Bududa District
3. Bukedea - Bukedea District
4. Butaleja - Butaleja District
5. Fort Portal - Kabarole District
6. Kamwenge - Kamwenge District
7. Kapchorwa - Kapchorwa District
8. Kibaale - Kibaale District
9. Kyegegwa - Kyegegwa District
10. Kyenjojo - Kyenjojo District
11. Manafwa - Manafwa District
12. Pallisa - Pallisa District
13. Sironko - Sironko District
14. Tororo - Tororo District

Governance

The activities of PostBank Uganda are directed by the its board of directors. As of May 2014, the chairman of the board was Obella Oode. The managing director and chief executive officer was Stephen Mukweli. The current board was installed in 2012 for a five-year term. The day-to-day activities of the bank are supervised by a team of ten bank managers, headed by the managing director.