Global Trust Bank (Uganda)
| Private | |
| Industry | Financial Services |
| Founded | 2008 |
| Headquarters | Kampala, Uganda |
|
Key people
|
Erisa Olwenyi Acting Chairperson Morenikeji Oludotun Adepoju Managing Director |
| Products | Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages |
| Revenue |
 Pretax:US$743,400 (UGX:1.8 billion) (2011) |
| Total assets | US$37.1 million (UGX:90 billion) (2011) |
|
Number of employees
|
200 (2008) |
| Website | Homepage |
Global Trust Bank (Uganda) Limited (GTBU), commonly referred to as Global Trust Bank (GTBU), was a commercial bank in Uganda which started operations in 2008 and was closed down in 2014. Its headquarters were located in a five-storey building on Kampala Road in the center of Uganda’s capital, Kampala. It was licensed as a commercial bank by Bank of Uganda, the central bank and national banking regulator.
The bank was a small financial services provider in Uganda. As of December 2011[update], its total asset valuation was approximately US$35.1 million (UGX:85 billion), with shareholders' equity of about US$17.2 million (UGX:41.53 billion). Available reports indicate that the bank broke even in 2011 and began making profits in 2012. Global Trust Bank was evaluating the introduction of Sharia banking in Uganda.
As of May 2014[update], Global Trust Bank was 45.3% owned by Nigeria’s largest insurance company Industrial and General Insurance Company Plc. (IGI). The remaining 54.7% was owned by four corporate investors, each holding less than 5%, and by eight individual investors, each holding no more than 5% of the bank's issued and authorized share capital.
As of May 2014[update], Global Trust Bank had a network of branches at the following locations:
In January 2009, Global Trust Bank announced plans to expand operations into the neighboring countries of Burundi, Rwanda and South Sudan. In November 2009, the bank announced that it would pivot its focus towards small and medium enterprises (SMEs), using Internet-based and mobile-phone platforms. A reduction in the number of branches was contemplated, but was not implemented. In May 2011, the bank joined "Bankcom Network", a bank switch system that connects the ATMs of member banks. Global Trust Bank was the 8th Ugandan commercial bank to join the Bankcom switch.
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