# Finance Trust Bank

Finance Trust Bank (FTB), commonly called Finance Trust, is a commercial bank in Uganda. It is licensed by the Bank of Uganda, the central bank and national banking regulator.

## Location

The headquarters of FTB are located at TWED Plaza, Lumumba Avenue, Nakasero, in the Central Division of Kampala, Uganda's capital city. The coordinates of the institution's headquarters are 0°19'18.0"N 32°34'35.0"E (Latitude:0.321667; Longitude:32.576389).

## History

FTB was founded in 1984 as Uganda Women's Finance Trust Limited. The objective was to provide financial services to low income people in Uganda, especially women. Sixty percent of the bank's customers are women. Subsequently, the institution rebranded to Uganda Finance Trust Limited, a Tier III financial institution, recognized as a microfinance deposit-taking institution under the supervision of the Bank of Uganda. On 11 November 2013, the Bank of Uganda granted the bank a full commercial banking license. The institution then rebranded to its current name.

## Overview

As of 31 December 2021, FTB serviced over 500,000 savers and over 29,000 borrowers through a network of 34 interconnected branches, located in all regions of the country. As of 31 December 2023, the bank's total assets were valued at UGX:465.47 billion (approx. US$126.6 million) with shareholders' equity of UGX:68.59 billion (approx. US$18.65 million).

## Ownership

The stock ownership of the institution as of May 2018 is summarized in the table below.
Finance Trust Bank Stock Ownership :
| Rank | Name of Owner | Percentage Ownership |
| 1 | Uganda Womens Trust (Uganda) | 20.10 |
| 2 | Oikocredit Ecumenical Development Cooperative Society (Netherlands) | 19.60 |
| 3 | Progression Eastern African Micro Finance Equity Fund (Mauritius) | 18.30 |
| 4 | RIF North 1 (Mauritius) | 18.30 |
| 5 | Investment & Partner Afrique Entrepreneurs (Mauritius) | 14.20 |
| 6 | Ugandan Women Entrepreneurs (Uganda) | 9.50 |
| | Total | 100.0 |

## Acquisition by Access Bank Group

In January 2024, Access Bank Group based in Nigeria agreed to acquire an 80 percent shareholding in Uganda's FTB. The deal involves the acquisition of shares of stock of existing institutional shareholders of FTB, followed by capital injection to increase FTB's capital base. The binding deal requires regulatory approval of the Central Bank of Nigeria, the Bank of Uganda and COMESA. Closure was expected in the first half of 2024.
COMESA approved the deal in May 2024. After the transaction is fully approved, the shareholding in the new Access Bank Uganda is expected to be as illustrated in the table below.
Access Bank Uganda Stock Ownership :
| Rank | Name of Owner | Percentage Ownership |
| 1 | Access Bank Group | 80.89 |
| 2 | Uganda Womens Trust | 12.89 |
| 3 | Minority Shareholders | 6.22 |
| | Total | 100.0 |

## Branch network

As of April 2022, FTB maintained a network of 34 interconnected branches at the following locations:
* Main Branch - Katwe Road, Katwe, Kampala
* Arua Branch - Arua
* Bombo Road Branch - Bombo Road, Kampala
* Busia Branch - Custom Road, Busia
* Entebbe Branch - Kampala Road, Entebbe
* Fort Portal Branch - Rukidi III Street, Fort Portal
* Gomba Branch - Kanoni, Gomba District
* Iganga Branch - Main Street, Iganga
* Ishaka Branch - Rukungiri Road, Ishaka
* Jinja Branch - Iganga Road, Jinja
* Kalangala Branch - Kalangala
* Kaleerwe Branch - Kaleerwe, Kampala
* Kampala Road Branch - Kampala Road, Kampala
* Kamuli Branch - Kitimbo Road, Kamuli
* Kamwenge Branch - Station Road, Kamwenge
* Kapchorwa Branch - 46 Kapchorwa Road, Kapchorwa
* Kayunga Branch - Main Street, Kayunga
* Kikuubo Branch - Nakivubo Road, Kampala
* Kitintale Branch - Kitintale - Kampala
* Kumi Branch - Ngora Road, Kumi
* Lugazi Branch - Kampala-Jinja Highway, Lugazi
* Lwengo Branch - Mbiriizi, Lwengo District
* Masaka Branch - Edward Avenue, Masaka
* Mbale Branch - Republic Street, Mbale
* Mbarara Branch - High Street, Mbarara
* Mukono Branch - Kampala–Jinja Highway, Mukono
* Nakivubo Branch - 30-32 Mackay Road, Freeman Foundation Building, Kampala
* Nansana Branch - Hoima Road, Nansana
* Nateete Branch - Masaka Road, Nateete
* Ntungamo Branch - Old Kabale Road, Ntungamo
* Owino Branch - Kafumbe Mukasa Road, Kampala
* Pallisa Branch - Kasodo Road, Pallisa
* Soroti Branch - Solot Avenue, Soroti
* Tororo Branch - Bazaar Street, Tororo

## Governance

Evelyn Kigozi Kahiigi is the chairperson of the board of directors. She is one of the non-executive directors of the bank. There are ten other board members, including Annet Nakawunde Mulindwa, the managing director, and Annette Kiggundu is the only other executive director on the board.