Tropical Bank is a

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

Uganda Uganda, officially the Republic of Uganda, is a landlocked country in East Africa. It 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 ...

. It is licensed and supervised by the

Bank of Uganda The Bank of 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 of Uganda managed to ma ...

, the country's

central bank A central bank, reserve bank, national bank, or monetary authority is an institution that manages the monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the mo ...

and national banking regulator.

Overview

, Tropical Bank was a small financial services provider in Uganda. The bank's assets at that time were UGX:316 billion (approximately US$84 million).

History

The bank was established in 1973 as the Arab Libyan Bank for Foreign Trade & Development. In 1994, the name was changed to Tropical Africa Bank Limited. In 2006, the bank re-branded to Tropical Bank.

Ownership

99.91 percent of the share capital of Tropical Bank is owned by the Libyan government through the

Libyan Foreign Bank Libyan Foreign Bank (LFB) was established in 1972 in Tripoli, Libya as Libyan Arab Foreign Bank; it was renamed Libyan Foreign Bank in 2005. It was Libya's first offshore banking institution licensed to operate internationally. The Central Bank of ...

. The remaining 0.09 percent is owned by the

government of Uganda The politics of Uganda occurs in an Authoritarianism, authoritarian context. Since assuming office in 1986 at the end of the Ugandan Bush War, Ugandan civil war, Yoweri Museveni has ruled Uganda as an Autocracy, autocrat. Political party, Politi ...

through the Ministry of Finance & Economic Development.

Governance

Tropical Bank is governed by an eight-person board of directors, of whom two are executive directors and Six are non-executive. Ibrahim Senyonga Atwoki the non-executive director, is the

board chairman A board of directors is a governing body that supervises the activities of a business, a nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulations ...

. Khalifa Achour Ettalua, the non-executive director, is the deputy board chairman. Abdulaziz M.A. Mansur is the

managing director A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

and Joweria Mukalazi is the acting executive director. Four other directors assist him in running the bank.

Branch network

, Tropical Bank had a network of branches in the Central, Western and

Eastern Eastern or Easterns may refer to: Transportation Airlines *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 192 ...

regions of Uganda. # Kampala Road Branch - 27 Kampala Road,

Kampala Kampala (, ) is the Capital city, capital and largest city of Uganda. The city proper has a population of 1,875,834 (2024) and is divided into the five political divisions of Kampala Central Division, Kampala, Kawempe Division, Kawempe, Makindy ...

(Main Branch) and Head Office # Ntinda Branch - 1 Kimera Road,

Ntinda Ntinda is a location in northeastern Kampala, the capital city of Uganda. Location Ntinda lies in Nakawa Division, one of the five administrative divisions of Kampala. It is bordered by Kyambogo to the east, Nakawa to the south, Naguru to the we ...

, Kampala # Jinja Branch - 17 Main Street, Jinja # Masaka Branch - 2 Birch Avenue,

Masaka Masaka is a city in the Central Region, Uganda, Buganda Region in Uganda, west of Lake Victoria. The city is the headquarters of Masaka District. Location Masaka is approximately to the south-west of Kampala on the highway to Mbarara. The ...

# Mukono branch - Mukono, Uganda

Mukono Mukono Town is a municipality in Mukono District in the Central Region of Uganda. The town is administered by the Mukono Town Council. The district headquarters are located in this town. Location Mukono Municipality is east of Kampala ...

# Kawempe Branch - 3144 Kampala-Gulu Road,

Kawempe Kawempe is an area in the city of Kampala, Uganda's capital. It is also the location of the headquarters of Kawempe Division, one of the five administrative divisions of Kampala. Location Kawempe is located on the northwestern edge of Kampala. ...

, Kampala # Oasis Mall Branch - Yusuf Lule Road, Kampala # Kakira Branch - Downtown Area,

Kakira Kakira is a town in the Eastern Region of Uganda. It is the location of the International headquarters of the Madhvani Group. Location Kakira is located in Jinja District, approximately east of downtown Jinja on the highway to Iganga. The coord ...

References

External links

Tropical Bank Website

Photo of Tropical Bank Headquarters

Tropical Bank Total Assets In December 2011
{{Kampala District Banks of Uganda Companies based in Kampala Banks established in 1973 1973 establishments in Uganda