The transition of Finance Trust (MDI) into a commercial bank and the entry of Commercial Bank of Africa brings the total number of banks in Uganda to 27.
Uganda’s banking sector is set to witness the tightest cut throat competition ever in 2014 following the recent transition of Finance Trust (MDI) into a Tier 1 commercial bank and the entry of Commercial Bank of Africa (CBA) from Kenya, which brings the
total number of commercial banks in Uganda to 27.
Notably, Finance Trust Bank Limited (FTB), where Ugandan investors hold 55.4% shareholding with the remaining percentage held by international investors from France and Netherlands, brings back the number of indigenous banks to four after National Bank of Commerce (NBC) was closed by Bank of Uganda in 2012 due to mismanagement (its deposits and selected assets were “sold and assumed
