Orient Bank
Encyclopedia
Orient Bank is a commercial bank
in Uganda
. It is one of the twenty-two (22) commercial bank
s licensed by Bank of Uganda
, the national banking regulator.
, a Nigeria
n financial services conglomerate
, acquired 80% shareholding in Orient Bank for a reported sum of US$63.3 million.The other shareholders in the bank include members of the family that founded the bank in 1993, who today, jointly control 17% of shareholding in the bank. The shareholding in Orient Bank is depicted in the table below:
{| style="font-size:95%;"
|-
| width="80%" align="center" | Orient Bank Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||Bank PHB Group
||80.0
|-
|2||Ketan Morjaria||
|-
|3||Rajni Karia ||
|-
|4||Jay Karia ||
|-
|5||Others ||03.00
|-
| ||Total||100.0
|-
|}
of whom two (2) are Executive Director
s and five (5) are non-Executive. Michael Cook, one of the non-Executive Directors, is the Chairman.
s who assist him in running the bank.
. The bank
has plans to expand services to the western parts of Uganda
in the future. The branches of the bank include the following locations:
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
. It is one of the twenty-two (22) commercial bank
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
s licensed by Bank of Uganda
Bank of Uganda
The Bank of Uganda is the Central Bank of the Republic of Uganda. Established in 1966, by Act of Parliament, BOU is 100% owned by the Government of Uganda, but is not a government department.-Organization and Governance:...
, the national banking regulator.
Overview
The bank is involved in all aspects of commercial banking with emphasis on provision of banking services to non-government organisations (NGOs) and their staffs. , Orient Bank is the 9th largest commercial bank in Uganda, with an estimated asset valuation of US$132 million, representing approximately 3% of all bank assets in the country.Ownership
In April 2009, Bank PHB GroupBank PHB Group
Bank PHB Group, also known as Platinum Habib Bank Group, is a financial services organization in West Africa and East Africa. The Group's headquarters are located on Victoria Island in Lagos, Nigeria, with subsidiaries in Nigeria, the Gambia, Liberia, Sierra Leone and Uganda...
, a Nigeria
Nigeria
Nigeria , officially the Federal Republic of Nigeria, is a federal constitutional republic comprising 36 states and its Federal Capital Territory, Abuja. The country is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in...
n financial services conglomerate
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
, acquired 80% shareholding in Orient Bank for a reported sum of US$63.3 million.The other shareholders in the bank include members of the family that founded the bank in 1993, who today, jointly control 17% of shareholding in the bank. The shareholding in Orient Bank is depicted in the table below:
{| style="font-size:95%;"
|-
| width="80%" align="center" | Orient Bank Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||Bank PHB Group
Bank PHB Group
Bank PHB Group, also known as Platinum Habib Bank Group, is a financial services organization in West Africa and East Africa. The Group's headquarters are located on Victoria Island in Lagos, Nigeria, with subsidiaries in Nigeria, the Gambia, Liberia, Sierra Leone and Uganda...
||80.0
|-
|2||Ketan Morjaria||
|-
|3||Rajni Karia ||
|-
|4||Jay Karia ||
|-
|5||Others ||03.00
|-
| ||Total||100.0
|-
|}
Directors
Orient Bank is governed by a seven (7) person Board of DirectorsBoard of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
of whom two (2) are Executive Director
Executive director
Executive director is a term sometimes applied to the chief executive officer or managing director of an organization, company, or corporation. It is widely used in North American non-profit organizations, though in recent decades many U.S. nonprofits have adopted the title "President/CEO"...
s and five (5) are non-Executive. Michael Cook, one of the non-Executive Directors, is the Chairman.
Management team
Maxwell Ibeanusi is the Managing Director. He has nineteen (19) other managerManagement
Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively...
s who assist him in running the bank.
Branch Network
As of June 2010, Orient Bank has a network of twelve (12) branches in the central, eastern and northern parts of UgandaUganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
. The bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
has plans to expand services to the western parts of Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
in the future. The branches of the bank include the following locations:
- Head Office - Orient Plaza, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
- Kampala Road Branch - Kampala Road, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
- Jinja Branch - Busoga Square, JinjaJinja, UgandaJinja is the largest town in Uganda, Africa. It is the second busiest commercial center in the country, after Kampala, Uganda's capital and only city. Jinja was established in 1907.-Location:...
- Nkrumah Road Branch - Nkrumah Road, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
- William Street Branch - William Street, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
- Entebbe Downtown Branch - Kampala Road, EntebbeEntebbeEntebbe is a major town in Central Uganda. Located on a Lake Victoria peninsula, the town was at one time, the seat of government for the Protectorate of Uganda, prior to Independence in 1962...
- Entebbe Airport Branch - Entebbe International AirportEntebbe International AirportEntebbe International Airport is the principal international airport of Uganda.-Location:It is located near the town of Entebbe, on the shores of Lake Victoria, and about from the capital, Kampala...
- Kawempe Branch - Bombo Road, KawempeKawempeKawempe is an area in the city of Kampala, Uganda's capital. It is also the location of the headquarters of Kawempe Division, one of the five administrative divisions of Kampala. The five divisions are:* Kampala Central Division* Lubaga Division...
, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen... - Mbale Branch - Naboa Road, MbaleMbaleMbale is a city in Eastern Uganda. It is the main municiplal, administrative and commercial center of Mbale District and the surrounding sub-region. The district is named after the town.-Location:...
- Gulu Branch - Awere Road, GuluGuluGulu is a city in Northern Uganda. It is the commercial and administrative centre of Gulu District. The city is located at 2˚46'48N 32˚18'00E, on the metre gauge railway from Tororo to Pakwach. Gulu is located approximately , by road, north of Kampala, Uganda's capital and largest city...
- Garden City Branch - Garden City Mall, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
- Kabalagala Branch - KabalagalaKabalagalaKabalagala is a neighborhood in the city of Kampala, the capital city of Uganda. The name Kabalagala comes from a local type of pancake made from cassava flour and sweet bananas and is spiced with local peppers. Hawkers of this food variety would pull up to motorists as they were waiting to turn...
, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...