Yako Bank Uganda Limited, also Yako Bank, is a Tier II credit institution in

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 ...

that is licensed 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

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.

Location

The headquarters and main branch of Yako Bank are located at Forest Mall, Lugogo Bypass Road, Kampala, approximately . east of the city's

central business district A central business district (CBD) is the Commerce, commercial and business center of a city. It contains commercial space and offices, and in larger cities will often be described as a financial district. Geographically, it often coincides wit ...

Overview

The bank is one of the smaller credit institutions in the country. As of 31 December 2021, the bank had a cost-to-profit ratio of 16.76 percent. At that time, all licensed financial institutions in the country had ratios ranging from a low of 10.71 percent to a high of 23.35 percent.

History

Yako Bank was incorporated in 2010. It began offering services as a deposit-taking microfinance institution in September 2015, under the name ''Yako Microfinance Uganda Limited''. In 2020, the institution received a Tier II credit bank license from the Bank of Uganda. The institution rebranded to ''Yako Bank Uganda Limited''. Under its license, it is allowed to offer savings accounts, but not checking ones. It is allowed to make collateralized and non-collateralized loans to customers with or without savings accounts at the institution. Yako Bank, on account of being a credit institution, is prohibited from dealing with

foreign exchange The foreign exchange market (forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. By trading volume, it i ...

Ownership

The institution is owned by private investors.

Branch network

As of June 2024, Yako Bank Uganda Limited maintained branches at the following locations: # Main Branch: Forest Mall, Lugogo Bypass 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 ...

# Parliament Avenue Branch: Parliament Avenue, Kampala # Jinja Branch: Main Street, Jinja.

Other considerations

In 2021 Yako Bank partnered with ''Uganda Green Enterprise Finance Accelerator'' (UGEFA), to participate in a pipeline of US$6.1 million in funding to over 200 UGEFA-trained businesses involved in the

green economy A green economy is an economy that aims at reducing environmental risks and ecological scarcities, and that aims for sustainable development without environmental degradation, degrading the environment. It is closely related with ecological econ ...

, during the subsequent two years. Yako Bank is one of the participating Ugandan financial institutions. UGEFA is fully funded by the

European Union The European Union (EU) is a supranational union, supranational political union, political and economic union of Member state of the European Union, member states that are Geography of the European Union, located primarily in Europe. The u ...

References

External links

Official website

Court Blocks Bankruptcy Proceedings Against BMK Companies
As At 5 June 2024.
Policeman Shoots Indian Money Lender Dead At Yako Bank In Kampala
As At 12 May 2023. {{DEFAULTSORT:Yako Bank Uganda Limited Banks of Uganda Banks established in 2010 2010 establishments in Uganda Companies based in Kampala