Centenary Bank is a

commercial bank A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with co ...

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 south ...

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 Bank ...

, 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 centra ...

and national banking regulator.

History

The bank was founded in 1983 as a credit trust, Centenary Rural Development Trust (CRDT), by Simeon Lutaakome, Hugh Francis Pulle, Paul Kateregga, Vincent Kirabo kya Maria, Emmanuel Mpande, and John Ogutu. In 1985, CRDT began to provide financial services to the public. The bank became a fully licensed commercial bank in 1993, after receiving a license from the Bank of Uganda. As of May 2016, Centenary Bank was the largest majority indigenous Ugandan commercial bank. In May 2009, John Giles left the seat of Managing Director after three years at the position. In 2011, the Centenary Bank launched a program with the

World Bank Group The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and best-known development bank in the world and an observer at the United Nations Development Gr ...

to develop loans in the Ugandan agricultural sector. In 2017, Centenary launched on a new core banking platform developed by the Greek company

Intrasoft International S.A. Intracom Holdings is the main shareholder of a group of multinational companies specialized in IT services, construction projects and defense electronics systems. Overview The core companies of the Intracom Holdings Group are: * Intrakat, one ...

and signed a partnership with Mastercard to develop a broad suite of new mobile banking solutions. In December 2017, the Centenary Bank signed a deal with WorldRemit to allow transfer from the remittance service. In May 2020, the bank launched instant paperless accounts for the unbanked Ugandan population.

Overview

The bank is a large financial services provider in Uganda primarily involved in the promotion of development through loans to rural farmers, processors of agricultural produce, small traders, small manufacturers, importers, and exporters. While engaged in all areas of commercial banking, the bank has a significant portion of its portfolio in the microfinance arena in an attempt to meet the needs of the many individuals and business entities with limited means. As of December 2021, the bank's assets were UGX:4.8 trillion (US$1.359 billion), with shareholders' equity of USh789.52 billion (US$222.78 million). , Centenary Bank had its headquarters in

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 ...

. Its headquarters building is

Mapeera House Mapeera House is a building in Kampala, the capital and largest city of Uganda. Location The skyscraper is located on Plot 44/46, Kampala Road, the main business street in Kampala's central business district, where it intersects with Burton Stre ...

, on Kampala Road opposite City Square. The bank had a network of 63 bank branches together with 157 linked

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, f ...

s at 115 locations in the Central,

Western Western may refer to: Places *Western, Nebraska, a village in the US * Western, New York, a town in the US *Western Creek, Tasmania, a locality in Australia *Western Junction, Tasmania, a locality in Australia *Western world, countries that i ...

, Northern, and

Eastern Eastern may refer to: Transportation *China Eastern Airlines, a current Chinese airline based in Shanghai *Eastern Air, former name of Zambia Skyways *Eastern Air Lines, a defunct American airline that operated from 1926 to 1991 * Eastern Air L ...

Regions. The bank had 1,493,554 deposit accounts.

Partnerships

In December 2021, Centenary Bank unveiled a Cente Platinum Mastercard, a debit card for its premium customers.

Ownership

, the bank's stock was privately owned by the following corporate entities and individuals:

References

External links