Tropical Bank
Encyclopedia
Tropical Bank is a commercial bank
in Uganda
. As of April 2010, the bank is the 11th largest commercial bank in Uganda with an estimated asset valuation of US$110 million, representing approximately 3% of all bank assets in the country. Tropical Bank is involved in all commercial bank
activities with focus on the financing of manufacturing, construction, trade, commerce, education, transportation and tourism.
was established in 1973 as Arab Libyan Bank for Foreign Trade & Development. In 1994, the name was changed to Tropical Africa Bank Limited. In 2006 the name was finally changed to Tropical Bank.
. The total bank assets at that time was over US$102 million (UGX 203.3 billion), with shareholders' equity of over US$22 million (UGX:44.2 billion).
{| style="font-size:95%;"
|-
| width="80%" align="center" | Tropical 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||Libyan Foreign Bank||99.7
|-
|2||Government of Uganda||0.3
|-
|}
.
s who assist him in running the bank.
. The bank has plans to expand services to the western and northern parts of Uganda
as well as to go regional by 2012. The bank's branch network includes 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...
. As of April 2010, the bank is the 11th largest commercial bank in Uganda with an estimated asset valuation of US$110 million, representing approximately 3% of all bank assets in the country. Tropical Bank is involved in all 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...
activities with focus on the financing of manufacturing, construction, trade, commerce, education, transportation and tourism.
History
The bankBank
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:...
was established in 1973 as Arab Libyan Bank for Foreign Trade & Development. In 1994, the name was changed to Tropical Africa Bank Limited. In 2006 the name was finally changed to Tropical Bank.
Overview
, Tropical Bank was a medium-sized financial services provider in 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 total bank assets at that time was over US$102 million (UGX 203.3 billion), with shareholders' equity of over US$22 million (UGX:44.2 billion).
Ownership
99.7% of the share capital of Tropical Bank is owned by the Libyan government through the Libyan Foreign Bank. The remaining 0.3% is owned by the Government of Uganda through the Ministry of Finance and Economic Development. See Table below: As of May 2009, the paid-up share capital of the bank is in excess of US$30 million]{| style="font-size:95%;"
|-
| width="80%" align="center" | Tropical 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||Libyan Foreign Bank||99.7
|-
|2||Government of Uganda||0.3
|-
|}
Directors
Tropical Bank is governed by a six (6) person Board of Directors of whom two (2) are Executive Directors and four (4) are non-Executive. Mr. Gerald Sendawula, one of the non-Executive Directors, is the Chairman of the BoardChairman of the Board
The Chairman of the Board is a seat of office in an organization, especially of corporations.Chairman of the Board may also refer to:*Chairman of the Board , a 1998 film*Chairmen of the Board , a 1970s American soul music group...
.
Management team
Kassim Nakibinge Kakungulu is the Managing Director. He has thirteen (13) 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
, Tropical Bank has a network of nine (9) branches in the central and eastern 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 has plans to expand services to the western and northern 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...
as well as to go regional by 2012. The bank's branch network includes the following locations:
- Head Office - NakaseroNakaseroNakasero is the hill where the central business district of Kampala is located. Kampala is Uganda's capital and largest city.-Location:Nakasero is bordered by Mulago to the north, Makerere to the northwest, Old Kampala to the west, Namirembe and Mengo to the southwest, Nsambya to the south, Kibuli...
, 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... - Nakivubo Branch - Nakivubo, 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...
- Ntinda Branch - NtindaNtinda-Location:Ntinda is bordered by Kyambogo to the east, Nakawa to the south, Naguru to the west, Bukoto to the northwest, Kigoowa to the north and Kiwaatule to the northeast. This location is approximately , by road, northeast of Kampala's central business district...
, 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 - 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:...
- Masaka Branch - MasakaMasakaMasaka is a town in Central Uganda, lying west of Lake Victoria. It is the chief town of Masaka District. Besides being the headquarters of Masaka District, the town is the regional headquarters and largest metropolitan area in Lyantonde District, Sembabule District, Lwengo District, Bukomansimbi...
- Kansanga Branch - KansangaKansanga-Location:Kansanga is bordered by Kabalagala and Kisugu to the north, Muyenga to the northeast, Kiwafu to the east, Bbunga to the southeast, Konge to the south, Lukuli to the southwest, Kibuye to the west and Nsambya to the northwest. The road distance between Kampala's central business district...
, 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... - Kawempe Branch - 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... - Oasis Mall Branch - Yusuf Lule 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...
- Kakira Branch - KakiraKakiraKakira is a town in Eastern Uganda. It is the location of the International headquarters of the Madhvani Group.-Location:Kakira is located in Jinja District, approximately east of downtown Jinja on the highway to Iganga...
- Kinyara Branch - KinyaraKinyara Sugar WorksKinyara Sugar Works, whose complete name is Kinyara Sugar Works Limited is a sugar manufacturer in Uganda.-Location:The main factories of the company are located in the town of Kinyara, in Masindi District, Western Uganda. Kinyara lies approximately , by road, west of Masindi, the nearest large town...
approximately 15 kilometres (9.3 mi), by road, west of MasindiMasindiMasindi is a town in Western Uganda, which lies on the road from Kampala to the Murchison Falls National Park. It is the 'chief town' of the Masindi District and the district headquarters are located there...
(coming soon)
