PostBank Uganda


PostBank Uganda is a non-bank credit institution in Uganda. Its activities are supervised by the Bank of Uganda, the country's central bank and national banking regulator.

Overview

, PostBank Uganda had total assets worth US$106 million, with shareholders' equity of
US$20 million. At that time, the bank served an estimated one million customers, through 42 brick-and-mortar branches, 52 ATMs, 12 mobile bank vans and 98 banking agency locations.

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, 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 USh10 million in 2020, 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 that 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
  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 its board of directors., the chairperson of the board was Grace Bakunda. The day-to-day activities of the bank are supervised by a team of ten bank managers, headed by the managing director. As of November 2019, the managing director and chief executive officer is Julius Kakeeto.