Housing Finance Bank (HFB) on Wednesday 3rd May 2023, opened the opening of its 8th branch in Hoima City, with a promise to “provide the people of Hoima City and the surrounding areas with access to a wide range of banking services”.
The new branch is located on Plot 45 – 57 Fort Portal Road, Bunyoro Kitara Building.
The launch ceremony – was graced by Mr. Hannington Wasswa, Director of Commercial Banking at the Bank of Uganda and Dr. Fred Kabagambe-Kaliisa, Senior Presidential Advisor on Oil, Gas, and Mineral Industries. Several other dignitaries and guests from the district and Hoima City leadership, as well as religious and business communities, attended.
The bank was represented by the Managing Director, Mr. Michael K. Mugabi and the Executive Director, Peace Ayebazibwe, together with other members of the senior management team.
Speaking at the launch ceremony, Mr. Mugabi, the Managing Director of Housing Finance Bank, said the new branch was in line with the bank’s commitment to promoting financial inclusion and providing accessible and affordable financial services to individuals and businesses to all Ugandans.
“This is an exciting milestone for us as a bank and a significant stride towards our core purpose of providing convenient, affordable, relevant, and empowering solutions to the people of Uganda. The Hoima branch is an extension of our commitment to providing exceptional service and being a trusted financial partner in everything we do. We will strive to deliver on that promise every day of our stay here,” he told guests.
Footprint expansion, he said was part of HFB’s 2023-2027 strategic plan underpinned by people and culture, customer experience, affordable solutions, and stakeholder engagement. He also said that the Bank recognises the importance of and was committed to reducing the housing deficit in Uganda which currently stands at about 2.4 million units and supporting the growth of large, small, and medium-sized enterprises (SMEs).
On his part, Mr. Hannington Wasswa, the Director of Commercial Banking at the Bank of Uganda, applauded HFB for implementing a growth and expansion program aimed at broadening the reach and delivery of banking services to the Ugandan public.
“Hoima City and its surroundings have great economic growth and development potential. The region is at the forefront of Uganda’s oil exploration activities with projected growth in various economic sectors such as tourism, construction, trade and commerce. This makes the location of this branch well suited for Housing Finance Bank’s drive to extend banking services to large, medium and small-sized business enterprises. It is the perfect opportunity for the Bank to serve the community by supporting local businesses by providing the much-needed financial services that meet the population’s diverse needs,” he said.
HFB’s expansion into Hoima comes off the back of impressive 2022 full-year financial results where the Bank hit the one trillion mark in customer deposits and became one of the country’s top five most profitable banks.
Over and above the 18 physical branches, customers can also access services through the bank’s alternative channels including mobile banking, internet banking and across 941 authorised bank agents and 21 automated teller machines (ATMs).