BRAC Uganda Bank Limited (BUBL), is a credit institution ( ′Tier II Financial Institution′) in Uganda. In April 2019, the institution received a Tier II Financial Institution Licence, which authorized it to operate as a bank, supervised by the

Bank of Uganda The Bank of Uganda ( sw, Benki Kuu ya Uganda) is the central bank of Uganda. Established in 1966, by Act of Parliament, the bank is wholly owned by the government but is not a government department. History In 1979 and again in 1987, the Ba ...

, the national banking regulator.

Location

BRAC Uganda Bank Limited maintains headquarters at 880 Heritage Road, in the

Nsambya Nsambya is a hill in the center of Kampala, the capital and largest city in Uganda. The name also refers to the upscale and middle-class neighborhoods that have been developed on the hill and its slopes. Location Nsambya is located approximate ...

neighborhood, in the

Makindye Division Makindye Division is one of the five administrative divisions of Kampala, the capital of Uganda, and the largest city in that country. The city's five divisions are: (a) Kampala Central Division (b) Kawempe Division (c) Lubaga Division (d) Makindye ...

, of

Kampala Kampala (, ) is the capital and largest city of Uganda. The city proper has a population of 1,680,000 and is divided into the five political divisions of Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division, and Ruba ...

, Uganda's capital ad largest city. The coordinates of the bank's headquarters are 0°17'53.0"N, 32°35'45.0"E (Latitude:0.298056; Longitude:32.595833).

Overview

BRAC Uganda Bank Limited is a Tier II Financial Institution (MFI), licensed by the Bank of Uganda, the

central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central b ...

and national banking regulator. As a credit institution, it is not authorized to offer checking accounts or deal in foreign exchange. The company is authorized to take in customer deposits and to establish savings accounts. It is also authorized make collateralized and non-collateralized loans to savings and non savings customers. The company is a wholly owned subsidiary of BRAC International and is a member of their network. , the institution's total assets were valued at US$55.677 million (USh202.223 billion), with shareholder's equity of US$30.056 million (USh109.164 billion).

History

The institution was established in Uganda in 2006, as BRAC Microfinance Limited, with the objective of expanding financial inclusion in the country and serving the rural poor, specially women. At the time it acquired Tier II banking status in April 2019, the bank served over 270,000 customers in at least 80 of Uganda's 136 districts.

Ownership

BRAC Uganda Bank Limited, is a member of the international non-governmental development organisation, headquartered in

Dhaka Dhaka ( or ; bn, ঢাকা, Ḍhākā, ), formerly known as Dacca, is the capital and largest city of Bangladesh, as well as the world's largest Bengali-speaking city. It is the eighth largest and sixth most densely populated city i ...

, Bangladesh, with subsidiaries in

Afghanistan Afghanistan, officially the Islamic Emirate of Afghanistan,; prs, امارت اسلامی افغانستان is a landlocked country located at the crossroads of Central Asia and South Asia. Referred to as the Heart of Asia, it is bordere ...

, Liberia,

Myanmar Myanmar, ; UK pronunciations: US pronunciations incl. . Note: Wikipedia's IPA conventions require indicating /r/ even in British English although only some British English speakers pronounce r at the end of syllables. As John Wells explai ...

Nepal Nepal (; ne, :ne:नेपाल, नेपाल ), formerly the Federal Democratic Republic of Nepal ( ne, सङ्घीय लोकतान्त्रिक गणतन्त्र नेपाल ), is a landlocked country in S ...

Philippines The Philippines (; fil, Pilipinas, links=no), officially the Republic of the Philippines ( fil, Republika ng Pilipinas, links=no), * bik, Republika kan Filipinas * ceb, Republika sa Pilipinas * cbk, República de Filipinas * hil, Republ ...

Sierra Leone Sierra Leone,)]. officially the Republic of Sierra Leone, is a country on the southwest coast of West Africa. It is bordered by Liberia to the southeast and Guinea surrounds the northern half of the nation. Covering a total area of , Sierr ...

South Sudan South Sudan (; din, Paguot Thudän), officially the Republic of South Sudan ( din, Paankɔc Cuëny Thudän), is a landlocked country in East Africa. It is bordered by Ethiopia, Sudan, Central African Republic, Democratic Republic of the ...

Tanzania Tanzania (; ), officially the United Republic of Tanzania ( sw, Jamhuri ya Muungano wa Tanzania), is a country in East Africa within the African Great Lakes region. It borders Uganda to the north; Kenya to the northeast; Comoro Islands ...

and Uganda. BRAC Uganda is the second subsidiary to attain banking status, after the home subsidiary in

Bangladesh Bangladesh (}, ), officially the People's Republic of Bangladesh, is a country in South Asia. It is the eighth-most populous country in the world, with a population exceeding 165 million people in an area of . Bangladesh is among the mos ...

Branch network

As of January 2021, BRAC Uganda maintained 163 branches across 84 districts in Uganda. Of these, 32 are fully networked branches regulated by the Bank of Uganda. The remaining 131 are satellite offices supporting outreach activities of the Bank.

References

External links

Website of BRAC Uganda Bank Limited

Website of BRAC Uganda Bank Limited

As of 28 April 2019. {{coord, 00, 17, 53, N, 32, 35, 45, E, region:UG, display=title Banks of Uganda Banks established in 2006 2006 establishments in Uganda Makindye Division