Tropical Bank

Tropical Bank
Company typePrivate
IndustryFinancial services
Founded1973
HeadquartersKampala, Uganda
Key people
Ibrahim Senyonga Atwoki
board chairman
Khalifa Achour Ettalua
deputy board chairman,
Abdulaziz M. Mansur
managing director & executive director[1]
ProductsLoans, checking, savings, debit cards, investments, mortgages
RevenueIncrease Aftertax: UGX:7.4 billion (2022)[2]
Total assetsUGX:281 billion (2022)[2]
Websitewww.trobank.com

Tropical Bank is a commercial bank in Uganda. It is licensed and supervised by the Bank of Uganda, the country's central bank and national banking regulator.[3]

Overview

As of December 2019, Tropical Bank was a small financial services provider in Uganda. The bank's assets at that time were UGX:316 billion (approximately US$84 million).[2]

History

The bank was established in 1973 as the Arab Libyan Bank for Foreign Trade & Development. In 1994, the name was changed to Tropical Africa Bank Limited. In 2006, the bank re-branded to Tropical Bank.[4]

Ownership

99.91 percent of the share capital of Tropical Bank is owned by the Libyan government through the Libyan Foreign Bank. The remaining 0.09 percent is owned by the government of Uganda through the Ministry of Finance & Economic Development.[5]

Governance

Tropical Bank is governed by an eight-person board of directors, of whom two are executive directors and Six are non-executive. Ibrahim Senyonga Atwoki the non-executive director, is the board chairman. Khalifa Achour Ettalua, the non-executive director, is the deputy board chairman. Abdulaziz M.A. Mansur is the managing director and Joweria Mukalazi is the acting executive director. Four other directors assist him in running the bank.[1]

Branch network

As of November 2020, Tropical Bank had a network of branches in the Central, Western and Eastern regions of Uganda.

  1. Kampala Road Branch - 27 Kampala Road, Kampala (Main Branch) and Head Office
  2. Ntinda Branch - 1 Kimera Road, Ntinda, Kampala
  3. Jinja Branch - 17 Main Street, Jinja
  4. Masaka Branch - 2 Birch Avenue, Masaka
  5. Mukono branch - Mukono, Uganda Mukono
  6. Kawempe Branch - 3144 Kampala-Gulu Road, Kawempe, Kampala
  7. Oasis Mall Branch - Yusuf Lule Road, Kampala
  8. Kakira Branch - Downtown Area, Kakira[6]

See also

References

  1. ^ a b Tropical Bank (30 December 2019). "Members of Tropical Bank Executive Management Team". Kampala: Tropical Bank. Retrieved 30 December 2019.
  2. ^ a b c Ashita Chopra (6 May 2020). "Tropical Bank drafts capital restoration plan". Daily Monitor. Kampala. Retrieved 6 May 2020.
  3. ^ Bank of Uganda (31 March 2016). "Bank of Uganda: List of Licensed Commercial Banks As At March 2016" (PDF). Kampala: Bank of Uganda. Archived from the original (PDF) on 12 October 2016. Retrieved 23 August 2016.
  4. ^ "About Tropical Bank". Tropical Bank. Retrieved 4 May 2014.
  5. ^ Samuel Sanya (6 March 2020). "Uganda Returns Tropical Bank To Libyan Control". New Vision. Kampala. Retrieved 4 May 2020.
  6. ^ Ntaratambi, Sheba; Mukasa, Henry (2 April 2011). "Uganda: Tropical Bank Assures Public On Deposits". New Vision via AllAfrica.com. Archived from the original on 7 July 2012. Retrieved 4 May 2014.{{cite web}}: CS1 maint: bot: original URL status unknown (link)