Union Trust Bank

Overview

The bank is a small, but growing, financial services provider in Sierra Leone. As of December 2012, the bank's total assets were valued at approximately US$51.3 million (SLL:219.5 billion), with an estimated shareholders' equity of approximately US$11.9 million (SLL:50.8 billion). In November 2013, the bank was the fourth largest commercial bank in the country by assets. At that time, its total customer base stood at 66,947.

History

UTB was founded in 1995 by Sierra Leonean individuals and corporations and was registered as a limited liability company. It began offering banking services following the issuance of a commercial banking license by the Bank of Sierra Leone. The initial capital investment of US$345,000 (SLL:1.5 billion), was increased to US$690,000 (SLL:3 billion) in 2004.

Ownership

Union Trust Bank is a privately owned company. The exact shareholding in the stock of the bank is not publicly known at this time.

Branch Network

As of November 2013, UTB maintains branches at the following locations:

1. Main Branch - Lightfoot-Boston Street, Freetown
2. Njala University Branch - Njala University, Mokonde Campus, Moyamba District
3. Kenema Branch - 19 Hangha Road, Kenema, Eastern Province
4. Bo Branch - 7 Bojon Street, Bo, Southern Province
5. Kono Branch - 5 Old Yengema Road, Koidu, Kono District
6. Kambia Branch - Sierra Leone-Guinea Highway, Kambia
7. Lumley Branch - Lumley Road, Freetown
8. Kissy Branch - 49 Baibureh Road, Kissy, Freetown
9. Magburaka Branch - Kono Makeni Highway, Magburaka
10. Liverpool Street Branch - Liverpool Street, Freetown
11. Brookfields Branch - Main Motor Road, Freetown
12. New England Ville Branch - Jomo Kenyatta Road, Freetown
13. Lunsar Branch - Lunsar