The bank's headquarters and main branch are located at Orient Plaza, 14 Kampala Road, in the central business district of Kampala, Uganda's capital and largest city. The geographical coordinates of the bank's headquarters are: 0°18'44.0"N, 32°35'08.0"E.
Overview
The bank is involved in all aspects of commercial banking, with emphasis on providing banking services to non-government organisations and their staffs. As of December 2019, the bank's total assets were valued at UGX:814.3 billion, with shareholders' equity of UGX:114.1 billion.
History
The bank was founded in 1993 by a group of businesspeople who were related by blood and marriage. In 1996, the bank opened its second branch in the city ofJinja, about one hour's drive east of the capital Kampala. In 2002, the bank acquired Trans-Africa Bank Limited, which had been declared insolvent by the BOU. Following a spate of Ugandan bank failures in the 1990s and early 2000s, the banking laws in Uganda were changed to bar family members from jointly owning more than 49 percent in the same financial institution. Orient Bank was given a grace period to find a suitable investor. In April 2009, Bank PHB Group, a Nigerianfinancial services group, acquired 80 percent shareholding in Orient Bank for a cash payment of US$62 million. In August 2011, the group was itself declared insolvent by the Central Bank of Nigeria, and its assets and some liabilities were acquired by Keystone Bank Limited, which was owned by the Federal Government of Nigeria. In July 2014, international media reported that Keystone Bank planned to divest from Orient Bank. In February 2015, Keystone Bank divested from Orient Bank by selling 42 percent shareholding to a private equity firm8 Miles Fund, whose shareholders include celebrity entertainer and activist Bob Geldof, and the remaining 38 percent was sold to three individuals, namely Ketan Morjaria; one of the founders of the bank, Alemayehu Fisseha, and Zhong Shuang Quan.
Ownership
As of February 2015, the shareholding of the bank was as depicted in the table below:
Rank
Name of Owner
Percentage Ownership
1
Ketan Morjaria
49.0
2
8 Miles Fund
42.0
3
Alemayehu Fisseha
4.5
4
Zhong Shuang Quan
4.5
Total
100.0
Acquisition
In July 2020, I&M Holdings Limited signed an agreement with the shareholders of Orient Bank Limited, to buy 90 percent equity in the issued share capital of Orient Bank Limited. The transaction is valued in excess of KSh2 billion, and is subject to regulatory approval from Uganda and Kenya.
, the bank had a network of branches in the central, eastern, and northern regions of Uganda. The branches of the bank included the following locations:
Main Branch - Orient Plaza, 6/6A Kampala Road, Kampala
