Nile Bank Ltd was a private

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

registered in

Uganda }), 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 ...

, with shareholders from Uganda,

Israel Israel (; he, יִשְׂרָאֵל, ; ar, إِسْرَائِيل, ), officially the State of Israel ( he, מְדִינַת יִשְׂרָאֵל, label=none, translit=Medīnat Yīsrāʾēl; ), is a country in Western Asia. It is situated ...

, and

South Africa South Africa, officially the Republic of South Africa (RSA), is the Southern Africa, southernmost country in Africa. It is bounded to the south by of coastline that stretch along the Atlantic Ocean, South Atlantic and Indian Oceans; to the ...

. Nile Bank has an emphasis on consumer banking.

History

Nile Bank was established in 1988 for the purposes of providing banking services to the public at a time when low cost banking was almost non-existent in Uganda. By 1992 the bank had two

branches A branch, sometimes called a ramus in botany, is a woody structural member connected to the central trunk of a tree (or sometimes a shrub). Large branches are known as boughs and small branches are known as twigs. The term ''twig'' usually r ...

and has since expanded to six branches including branches in

Mbarara Mbarara City is a city in the Western Region of Uganda and the second largest city in Uganda after Kampala. The city is divided into 6 boroughs of Kakoba Division, Kamukuzi Division, Nyamitanga Division, Biharwe Division, Kakiika Division, ...

Entebbe Entebbe is a city in Central Uganda. Located on a Lake Victoria peninsula, approximately southwest of the Ugandan capital city, Kampala. Entebbe was once the seat of government for the Protectorate of Uganda prior to independence, in 1962. T ...

and Jinja. The bank has around 90,000 customers and in January 2003, Nile Bank became one of the first

n banks to receive

ISO ISO is the most common abbreviation for the International Organization for Standardization. ISO or Iso may also refer to: Business and finance * Iso (supermarket), a chain of Danish supermarkets incorporated into the SuperBest chain in 2007 * Iso ...

certification. In June 2007 Nile Bank was purchased by Barclays bank. Barclays decided to merge the two client-bases and do an IT systems upgrade at the same time.

Operations

Automated telling Nile Bank's operations are centered in the capital city 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 ...

. The bank has invested in providing 24-hour banking services to its target mass market. The bank has 21

Automated Teller Machine An automated teller machine (ATM) or cash machine (in British English) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, fun ...

s (ATMs) in and around Kampala and 3 in

and Jinja bringing the total to twenty four (24) by January 2004. Credit department Nile Bank offers CreditSource for

consumer loan Credit (from Latin verb ''credit'', meaning "one believes") is the Trust (social sciences), trust which allows one Party (law), party to provide money or resources to another party wherein the second party does not reimburse the first party im ...

s; FlexiSource for small and medium-sized enterprises (SMEs); WheelSource for

automobile A car or automobile is a motor vehicle with wheels. Most definitions of ''cars'' say that they run primarily on roads, seat one to eight people, have four wheels, and mainly transport people instead of goods. The year 1886 is regarde ...

loans; and EntertainmentSource for

television Television, sometimes shortened to TV, is a telecommunication medium for transmitting moving images and sound. The term can refer to a television set, or the medium of television transmission. Television is a mass medium for advertisin ...

and satellite dish purchase. Western Union Nile Bank is a leading Ugandan agent for

Western Union The Western Union Company is an American multinational financial services company, headquartered in Denver, Colorado. Founded in 1851 as the New York and Mississippi Valley Printing Telegraph Company in Rochester, New York, the company cha ...

's money transfer service, handling over 200,000 transactions per year.

Dissolution

In June 2007, 100% of Nile Bank Limited was acquired by

Barclays Bank Barclays () is a British multinational universal bank, headquartered in London, England. Barclays operates as two divisions, Barclays UK and Barclays International, supported by a service company, Barclays Execution Services. Barclays traces ...

from the main shareholder, Israeli businessman

Hezi Bezalel Hezi Bezalel (born 1951) is an Israeli businessman. He is active mostly in Israel, the US, Britain, India, and various countries in Africa. He serves as the Honorary Consul of Rwanda in Israel. Biography Bezalel was born in Basra, Iraq and move ...

, and became part of Barclays Bank (Uganda) Limited.

External links

Nile Bank Limited

References

Banks of Uganda 1988 establishments in Uganda Banks established in 1988 Banks disestablished in 2007 Barclays {{Africa-bank-stub

History

Operations

Dissolution

External links

See also

References