ABC Bank (Uganda)
| Company type | Private: Subsidiary of Executive Director[1] |
|---|---|
| Products | Loans, savings, investments |
| Revenue |  After tax: UGX:803.63 million (2022) |
| Total assets | UGX:62.14 billion (2022) |
Number of employees | 50 (2020) |
| Website | Homepage |
ABC Bank (Uganda), whose full name is ABC Capital Bank Uganda Limited, is a Tier II credit institution in
Overview
The bank provides banking services to large corporations, small-to-medium-sized businesses (SMEs), as well as individuals. As of December 2022, the bank's total assets were valued at about UGX:62.14 billion, with shareholders' equity of about UGX:32.34 billion.[4]
History
Ownership
ABC Bank (Kenya) is an investor in ABC Bank (Uganda).
| ABC Bank (Uganda) Stock Ownership | ||||||||||||
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Branch network
As of December 2020, ABC Bank (Uganda) maintained networked branches at the following locations:[4] (1) Main Branch - Colline House, 4C Pilkington Road, Kampala, (2) Luwum Street Branch - Pioneer Mansion, 11 Luwum Street, Kampala, (3) Kikuubo Branch - Fami Plaza, 21 Nakivubo Road, Kampala.
Transition to Tier II status
In Q2 2022, the Ugandan Minister of Finance, in consultation with the Bank of Uganda, signed new regulations raising minimum capital levels for commercial banks from UGX:25 billion (approx. US$6.7 million) to UGX:150 billion (approx. US$40 million) by 30 June 2024.[7] Due to its inability to raise the minimum capital requirements as stipulated, ABC Capital Bank was authorized to downgrade to a Tier II credit financial institution, whose minimum capital requirements of UGX:25 billion (approx. US$6.8 million) it met at that time.[3]
See also
References
- ^ ABCBU (31 March 2024). "Members of Board of Directors". ABC Capital Bank Uganda (ABCBU). Kampala, Uganda. Retrieved 31 March 2024.
- ^ BOU (31 March 2023). "Licensed Commercial Banks As At 31 March 2023". Bank of Uganda (BOU). Kampala, Uganda. Retrieved 31 March 2024.
- ^ a b Dorothy Nakaweesi (27 March 2024). "Three banks downgrade to credit institutions". Daily Monitor. Kampala. Retrieved 31 March 2024.
- ^ a b ABCBU (19 June 2023). "Audited Financial Report for Year Ending 31 December 2022". ABC Bank Uganda (ABCBU). Kampala, Uganda. Retrieved 31 March 2024.
- ^ ABCCB (26 July 2016). "History of ABC Capital Bank". Kampala: ABC Capital Bank (ABCCB). Retrieved 26 July 2016.
- ^ Mbanga, Jeff (12 November 2008). "Kenyan bank set to buy Capital Finance". The Observer (Uganda). Kampala. Retrieved 26 July 2016.
- ^ Bernard Busuulwa (31 July 2023). "Uganda's new, higher minimum capital rules for lenders kick in, rattle investors". The EastAfrican. Nairobi, Kenya. Retrieved 31 March 2024.
