PostBank Uganda is a commercial bank in Uganda licensed and regulated by the Bank of Uganda, the country's Central Bank and the National Bank Supervisory Authority. The bank was granted a Tier 1 banking license in December 2021.

Until then, PostBank Uganda was classified as a non-bank credit institution and remains regulated by the Bank of Uganda.

Overview

As of December 2020, PostBank Uganda had total assets valued at UGX: 745 billion (approximately $193.30 million) and shareholders' equity valued at UGX: 117.10 billion (approximately $30.40 million). At that time, customer deposits totaled 507.2 billion UGX (approx. $131.60 million) and its loans totaled UGX: 454.90 billion (approx. $118 million)

History

Post Bank Uganda has been in existence since 1926. It was originally a division of the Post Office. In February 1998, PostBank Uganda Limited was established under the Communications Act 1997 to take over the operations of the savings division of the former Post Office.

PostBank Uganda was incorporated in February 1998 under the Companies Act and is a limited liability company. The operations of the bank are supervised by the Bank of Uganda under the Financial Institution Group Act. Until December 2021, it was classified as a Tier 2 Institution (Non-Bank Credit Institution) by the Bank of Uganda (BOU). That month, it received a Tier 1 Banking License from the BOU.

Ownership

Uganda Post Bank is wholly owned by the Government of Uganda.

Branch Network

As of February 2021, Uganda Post Bank has a branch network consisting of 33 fixed branches and 17 mobile banking units, totalling 50 branches.

Uganda Post Bank's activities are directed by its Board of Directors. As of February 2021, the Chairperson of the Board is Andrew Otenga Oviney. The day-to-day activities of the bank are overseen by a team of ten bank managers, which is led by a Managing Director. As of November 2019, the Managing Director and CEO is Julius Kakeeto.