DFCU Bank explained

DFCU Bank
Type:Public
Parent DFCU Limited listed on Uganda Securities Exchange as DFCU
Location:26 Kyaddondo Road
Nakasero, Kampala, Uganda
Key People:Jimmy D. Mugrwa[1]
Chairman
Charles Mudiwa
Managing Director[2]
Num Employees:1,174 (2022)[3]
Assets:UGX:3.283 trillion (US$893.78 million) (2022)
Revenue:Aftertax:UGX:30.643 billion (US$8.343 million) (2022)
Industry:Financial services
Products:Loans, checking accounts, savings, investments, debit cards, credit cards, mortgages

DFCU Bank, registered as the Development Finance Company of Uganda Bank Limited, is a commercial bank in Uganda. It is licensed by the Bank of Uganda (BoU), Uganda's central bank and national banking regulator.[4]

Overview

As of December 2022, DFCU Bank had total assets of UGX:3.283 trillion (US$893.78 million), and shareholders' equity of UGX:614.5 billion (US$167.3 million).[5]

As of 30 June 2017, dfcu Bank operated 67 branches and 100 automated teller machines.[6] [7] As of 30 June 2020, the bank's total assets had increased to UGX:3.442 trillion (US$939 million), with shareholders' equity of UGX:599.65 billion (US$163.54 million).[8]

History

The Development Finance Company of Uganda Limited was established in 1964, with its name changing in 2000 to DFCU Limited and eventually to dfcu Limited.[9] In 2000, dfcu Limited acquired Gold Trust Bank, which subsequently became dfcu Bank.

In July 2014, the BoU transferred to dfcu Bank the customer deposits of the Global Trust Bank, a small retail financial institution that the BoU had closed because it never became commercially viable. The deposits were valued at UGX:73 billion.[10]

On 27 January 2017, dfcu Bank took over Crane Bank, which had been under the statutory management of the BoU because Crane's liabilities exceeded its assets. The acquisition included all customer deposit accounts and some loan accounts.[11]

Ownership and affiliation

The stock of dfcu Limited, the parent company of dfcu Bank, trades on the Uganda Securities Exchange under the symbol "DFCU". As of December 2018, the major shareholders in the stock were as outlined in the table below:[3]

DFCU Limited Stock Ownership! Rank !! Name of Owner !! Percentage Ownership
1 Arise BV
2 Investment Fund for Developing Countries (IFU)[12]
3
4 Kimberlite Frontier Africa Naster Fund
5 SSB Russell Investment Company Plc Fund NAS5
6
7
8 SSB-Conrad N. Hilton Foundation
9 Jubilee Investment Company Limited
10 Bank of Uganda Defined Benefits Scheme - Sanlam
11 Bank of Uganda Defined Benefits Scheme - Stanlib
12 The Parliament Pension Scheme - Stanlib
13
14 Centenary Bank Staff Defined Contributory Scheme
15
16
17 Rakesh Gadani
18 UAP Insurance Company Limited
19 Jubilee Insurance Company Limited
20 Housing Finance Bank/UAP Insurance General Life Fund
21 3807 Other Investors
Total

Branch network

With its headquarters in Kampala, DFCU Bank had the followingbranches in all areas of Uganda as of April 2020.[16] In February 2020, the bank relocated 15 of its branches to new premises, as listed below.[17]

  1. Sixth Street Branch: Ramzam Motors Building, Plot 116/118, Sixth Street, Industrial Area, Kampala[17]
  2. Abayita Ababiri Branch: S&S Mall, Plot. 863, Nkumba[17]
  3. Abim Branch: 8 Lira-Kotido Road, Abim
  4. Bugoloobi Branch: Kagga House, 2 Bandali Rise, Bugoloobi, Kampala
  5. Bwaise Branch: 975-976 Sir Apollo Kaggwa Road, Bwaise, Kampala
  6. Entebbe Road Branch: Freedom City Mall, Namasuba, Kampala
  7. Impala House Branch: Impala House, 13 Kimathi Avenue, Kampala
  8. Jinja Road Branch: Victoria University Towers, 38 Jinja Road, Kampala
  9. Kampala Road Branch: Plot. 40, Kampala Road, Kampala[17]
  10. Sun City Branch: Sun City Plaza, 17 Ben Kiwanuka Street, Kampala
  11. Kawempe Branch: Kampala-Gulu Highway, Kawempe, Kampala
  12. Kikuubo Branch: Ddembe Plaza, Nakivubo Road, Kampala[17]
  13. Kireka Branch: Isabella Plaza, Plot. 395, Kireka[17]
  14. Kisekka Branch: Kisekka Market, 70 – 76 Nakivubo Road, Kampala
  15. Kyadondo Road Branch - DFCU House, 26 Kyaddondo Road, Nakasero, Kampala Main Branch[18]
  16. Kyambogo University Branch: Kyambogo University, Kyambogo, Kampala
  17. Kyambogo Branch: 48/50, Mukabya Road, Kyambogo, Kampala
  18. Lugogo Branch: Lugogo Mall, Lugogo Bypass Road, Lugogo, Kampala
  19. Makerere Branch: 45 Pool Road, Makerere University Campus, Kampala
  20. Market Street Branch: Aponye City Mall, 8 Burton Street, Kampala
  21. Naalya Branch: Quality Shopping Mall, Naalya
  22. Nakivubo Branch (Gagawala Shauliyako): 40A, Nakivubo Place, Kampala
  23. Acacia Branch: 24 Acacia Avenue, Kololo, Kampala[19]
  24. Agago Branch: 1 Odok Road, Agago Town Council
  25. Arua Branch: OB Plaza, Plot. 9 & 11, Adumi Road, Arua[17]
  26. Busia Branch: 101 & 103 Customs Road, Busia, Uganda
  27. Dokolo Branch: Akeidebe Zone, Bata Road, Dokolo
  28. Entebbe Town Branch: 22 Kampala Road, Entebbe
  29. Gulu Branch: 1 Doctor Lucile Road, Gulu
  30. Gulu University Branch: DFI Block, University Avenue, Gulu University Campus, Gulu
  31. Hoima Branch: Plot. 36, Main Street, Main Street, Hoima[17]
  32. Ibanda Branch: Plot. 82, Kamwenge Road, Ibanda[17]
    1. Iganga Branch: 80 & 82 Main Street, Iganga Ishaka Branch: 45 Ishaka-Rukungiri Road, Ishaka
  33. Isingiro Branch: 36 Kikagate Road, Isingiro[20]
  34. IUIU Branch: Islamic University in Uganda Campus, Mbale
  35. Jinja Branch: Plot. 10 Scindia/Lady Alice Muloki Road, Jinja[17] [21]
  36. Kabale Branch: 143/145 Kabale Road, Kabale
  37. Kisoro Branch: 65/75 North Ward, Kisoro
  38. Kitgum Branch: 19 Janan Luwum Street, Kitgum
  39. Kyengera Branch: Kyengera Shell Service Station, Masaka Road, Kyengera[17]
  40. Luweero Branch: 846 Kampala–Gulu Highway, Luweero
  41. Luwum Street Branch: Kizito Towers, Luwum Street, Kampala[17]
  42. Lyantonde Branch: Plot. 226, Block. 76, Lyantonde[17]
  43. Masaka Branch: 22 Kampala Road, Masaka
  44. Mbale Branch: 2 Court Road, Mbale
  45. Mbarara Branch: Plot. 14, Masaka–Mbarara Road, Mbarara[17]
  46. Mukono Branch: 18/20 Jinja Road, Mukono
  47. Nateete Branch: 757 Wakaliga, Nateete, Kampala
  48. Ndeeba Branch: 224 Masaka Road, Ndeeba, Kampala
  49. Nsambya Branch: 1207 Ggaba Road, Nsambya, Kampala
  50. Ntinda Branch 1: Capital Shoppers City, Ntinda Road, Ntinda, Kampala
  51. Ntinda Branch 2: Plot. 1615 Tuskys Supermarket Building, Ntinda–Bukoto Road, Ntinda, Kampala[17]
  52. Ntungamo Branch: 18 Old Kabale Road, Ntungamo
  53. Owino Market Branch - 769 Kafumbe Mukasa Road, Kampala
  54. Pader Branch: 8 Lagwai Zone B, Pader
  55. Pallisa Branch: 8 Kasodo Road, Pallisa
  56. Rushere Branch: 52–54 Rushere Road, Rushere
  57. Soroti Branch: Jovi House, Plot. 47 Gweri Road, Soroti[17]
  58. Tororo Branch: 9 & 11 Mbale Road, Tororo
  59. William Street Branch: 66 William Street, Kampala
  60. Wilson Lane Branch: 17 Wilson Lane, Kampala.

DFCU House

See main article: DFCU House. dfcu Limited has built a ten-story headquarters building that also houses the main branch of dfcu Bank. The building is often referred to as DFCU House. Located at 26 Kyaddondo Road, on Nakasero Hill, in Kampala's central business district, the development has underground and surface parking, as well as rentable, retail, and office space on several levels.[22]

See also

External links

Notes and References

  1. Web site: dfcu Bank Picks New Board Members, Announces Dividends For Shareholders . 12 July 2024 . SoftPower Uganda . Rogers Atukunda . 12 July 2024 . Kampala, Uganda.
  2. Web site: . 6 April 2023 . DFCU Bank Appoints Charles Mudiwa New CEO . Ali Twaha . 7 July 2023 . Kampala, Uganda.
  3. Web site: Ugandan lender DFCU cuts jobs in rebranding drive . . 9 July 2023 . James Anyanzwa . 10 July 2023 . Kampala, Uganda.
  4. Web site: List of licensed Commercial Banks as at 31 March 2017 . . 12 July 2017 . 31 March 2017 . https://web.archive.org/web/20170730230607/https://www.bou.or.ug/bou/bou-downloads/financial_institutions/2017/Licensed-Banks-as-at-March-31-2017.pdf . 30 July 2017 . dead .
  5. Web site: DFCU Limited Financials For The 12 Months Ended 31 December 2022 . . 14 March 2023 . DFCU Limited . 7 July 2023 . Kampala, Uganda.
  6. News: Dfcu closes 23 Crane Bank branches . . 1 February 2017 . Mark Keith Muhumuza . 1 May 2017 . Jonathan Adengo . Kampala.
  7. News: DFCU Bank posts Sh114 bn net profit in first 6 months . 15 August 2017 . . 15 March 2018 . Kampala.
  8. Web site: DFCU Limited 2020 Interim Financial Results . 28 August 2020 . . 7 September 2020 . DFCU Limited . Kampala.
  9. Web site: About us . dfcu Limited . 15 August 2018.
  10. News: Uganda central bank takes over small commercial bank . . 25 July 2014 . 15 August 2018.
  11. News: UPDATE 1-Uganda's Crane Bank assets, liabilities transferred to dfcu - central bank . . 27 January 2017 . 27 January 2017.
  12. Web site: . CDC Sells Its Stake In Dfcu Bank . 19 December 2019 . 23 December 2019 . Martin Luther Oketch . Kampala.
  13. Web site: Company Details: Development Finance Company of Uganda Ltd . . 12 July 2017 . Kampala . 12 July 2017 . dead . https://web.archive.org/web/20140415125020/http://use.or.ug/copindex.php?cat=lstofallco&subcat=lstcodir&cop=85 . 15 April 2014 . dmy-all.
  14. Web site: Europe's Arise BV hits ground running with CAL Bank acquisition . Asokoinsight.com . 14 February 2017 . 16 October 2017.
  15. News: We are still here - dfcu Bank shareholders . Benon Ojiambo . . Kampala . 7 July 2018 . 8 July 2018.
  16. Web site: Branch List of DFCU Bank Uganda . . 28 April 2020 . DFCU Group . 28 April 2020 . Kampala.
  17. Web site: dfcu Bank confirms 15 branches out of Meera properties including Jinja, Entebbe, Mbarara, Arua . PML Daily . 2 February 2020 . Javira Ssebwami . 9 April 2020 . Kampala.
  18. Web site: Dfcu, WorldRemit Seal Pact . . 3 May 2022 . Ricks Kayizzi . 20 September 2022 . Kampala, Uganda.
  19. News: . 10 February 2005 . dfcu Bank opens branch on Acacia Avenue . Peter Kaujju . Kampala . 12 July 2017.
  20. Web site: Isingiro district gets first bank . Wilfred Sanya . . Kampala . 17 November 2009 . 12 July 2017.
  21. News: Dfcu in Jinja . Eddie Ssejjoba . . Kampala . 20 August 2009 . 12 July 2017.
  22. Web site: Kampala: Introducing the DFCU House . Symbion Group Plc. . 30 April 2014 . https://web.archive.org/web/20140502054723/http://www.symbion-int.com/blog.php?page=2&dateTime= . 2 May 2014 . dead . dmy-all .

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "DFCU Bank".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.