Mercantile Credit Bank (MCB), is a

Ugandan }), is a landlocked country in East Africa. The country is bordered to the east by Kenya, to the north by South Sudan, to the west by the Democratic Republic of the Congo, to the south-west by Rwanda, and to the south by Tanzania. The sou ...

tier II financial institution licensed 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. MCB is classified as "credit institution", one of only four such institutions in this class of financial service providers in the country. , the bank's total assets exceeded US$6.6 million (UGX:16.5 billion), with shareholders' equity of approximately US$1.6 million (UGX:4 billion). In December 2012, the total assets were estimated at US$9.9 million (UGX:25 billion) following its growth in operations.

History

MCB was registered as a Merchant Bank in 1981 and commenced operations in 1986. Following the review of the banking laws in Uganda that led to the financial Institutions Act of 2004, MCB was categorised as a Tier II Institution. As a tier II financial institution, MCB is allowed to establish customer savings and fixed deposit accounts and other core banking products including provision of credit facilities, fund transfers and foreign exchange trading given the nature of its licence.

Branch network

The institution's outreach strategy is supported by the Agency Banking model and the partnerships it has with Top Tier I Supervised financial Institutions. MCB maintains its branch headquarters at Plot 8 Old Portbell Road, in Kampala's central business district.

References

{{DEFAULTSORT:Mercantile Credit Bank Banks of Uganda Banks established in 1986 1986 establishments in Uganda Companies based in Kampala

History

Branch network

See also

References