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Finance Trust Bank has outlined the next phase of its operations after receiving approval from the Bank of Uganda to continue business under a Tier II Credit Institution licence, effective April 1, 2026, raising fresh questions about the lender’s strategic direction and what the transition means for its customers and Uganda’s wider banking sector. The announcement was made in a customer update and press release issued on January 29, in which the Board and Management of Finance Trust Bank said the institution will transition from a Tier I commercial bank licence to a Tier II credit institution platform following the…
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What began as one of the most closely watched cross border banking acquisition plans in East Africa has now officially fallen apart. The proposed takeover of Uganda’s Finance Trust Bank by Nigeria’s Access Bank Plc has collapsed nearly two years after the parties signed a definitive agreement that would have handed Access Bank majority control of one of Uganda’s homegrown commercial lenders. The deal, first announced in early 2024, was expected to strengthen Finance Trust Bank’s capital base and accelerate Access Bank’s strategic expansion into Uganda’s financial sector. But despite initial optimism, regional competition clearance, and cooperation from Ugandan regulators,…
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The Bank of Uganda (BoU) has approved the transition of Finance Trust Bank Limited from a Tier I commercial banking licence to a Tier II credit institution licence, marking the latest adjustment within Uganda’s regulated financial services sector. In a public notice issued on January 29, 2026, the central bank informed the general public that Finance Trust Bank has been authorised to change its licence status, with the new Tier II licence taking effect on April 1, 2026. BoU said the bank has been granted a three month transition period running from January 1 to March 31, 2026, during which…
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Guaranty Trust Bank (Uganda) Limited has reported its first loss in over five years, highlighting the difficult transition it is facing after downgrading to a Tier II Credit Institution in 2024. The bank posted a net loss after tax of UGX 3.25 billion for the year ended December 31, 2024, reversing a net profit of UGX 1.64 billion recorded in 2023. The downgrade followed a sharp increase in minimum capital requirements imposed by the Bank of Uganda (BoU) in 2022, raising the threshold for commercial banks from UGX 25 billion to UGX 150 billion. Facing the steep capital demands, Guaranty…
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Despite transitioning from a Tier I Commercial Bank to a Tier II Credit Institution in 2024, Opportunity Bank Uganda Limited has proven resilient, maintaining profitability, growing its loan book, and deepening its social and environmental impact across Uganda. The change in license status followed a sharp increase in capitalisation requirements imposed by the Bank of Uganda (BoU). In 2022, BoU raised the minimum capital for commercial banks from UGX 25 billion to UGX 150 billion, a six-fold increment. Facing the new thresholds, Opportunity Bank, alongside ABC Capital Bank Uganda and Guaranty Trust Bank Uganda, elected to downgrade to Tier II…
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