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Finance Trust Bank posted a record 178% profit growth in 2024, driven by strategic partnerships, a customer-focused business model, and major investments in women’s empowerment. The Bank now eyes an…
The Minister of Gender, Labour, and Social Development Hon Betty Amongi has appointed a new Board of Directors for the National Social Security Fund (NSSF) for a 3-year term effective September 01, 2024. Dr. David Ogong has been appointed the new Chairperson, replacing Dr Peter Kimbowa whose 3- year tenure elapsed on September 01, 2024. The Permanent Secretary and Secretary to the Treasury Ramathan Ggoobi also joins the Board, replacing Patrick Ocailap. Richard Bigirwa also joins as a worker’s representative under the National Organisation of Trade Unions (NOTU), replacing Lwabayi Mudiba Hassan. The Minister also reappointed Aggrey David Kibenge representing…
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Finance Trust Bank was established in 1984 with a mission to empower women to achieve their dreams and has over the last 40 years helped tens of thousands of women…
Access Bank Plc (Access), one of Africa’s largest banking groups, is acquiring 80% of Uganda’s Finance Trust Bank, it has been confirmed. CEO East Africa Magazine first broke news of the transaction but the concerned officials were at the time tight-lipped about the transaction. But in a press release this morning, the two financial institutions announced the signing of a definitive agreement for Access Bank’s equity investment into FTB. The two banks also said that once the deal had been approved by the regulators, Access Bank would “concurrently acquire the shares currently held by FTB’s institutional shareholders who have sought…
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Access Bank Plc (Access), one of Africa’s largest banking groups, is set to acquire Uganda’s Finance Trust Bank, highly-placed industry sources have told CEO East Africa Magazine. Access Bank Plc, which has been on an acquisition spree on the African continent, according to our sources is “dotting the I’s and crossing the t’s as well as securing regulatory approval by both the Central Banks of Nigeria and Uganda” and the deal will be “announced soon”. Finance Trust Bank was one of the banks that needed a significant capital boost, following the Central Bank of Uganda’s six-fold increment of capital buffers…
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CEO East Africa Magazine would like to recognize, Annet Nakawunde Mulindwa, the Managing Director of Uganda’s Finance Trust Bank. This week, the bank released its 2021 financial performance results, reporting Finance Trust Bank, this week, released its 2021 financial performance results, reporting a 57% increment in net profit— from UGX5.8 billion in 2020 to UGX 9.16 billion in 2021— the highest ever since acquiring a commercial banking license in 2013. Total income, grew by 23%, from UGX75.2 billion to UGX92.6 billion. Income growth was largely boosted by a 19% growth in lending— from UGX203.2 billion to UGX242.5 billion. As a…
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Finance Trust Bank, has today released its 2021 financial performance results, reporting yet another year of strong growth. According to the results, the bank, despite a challenging 2021, registered double-digit growth in most of its business fundamentals. As a result, the bank set new record highs in its 9-year history since it was granted a commercial banking license in 2013. Net profit after tax grew by 57% from UGX5.8 billion in 2020 to UGX 9.16 billion in 2021— the highest ever. This was on the back of equally strong growth in total income— by 23%, from UGX75.2 billion to UGX92.6…
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