Cairo Bank Uganda

{{short description|Ugandan commercial bank}}

{{EngvarB|date=January 2021}}

{{Use dmy dates|date=January 2021}}

{{Infobox company

| name = Cairo Bank Uganda Limited

| logo = Cairo Bank Uganda Logo (2020).png

| type = Private, Subsidiary of Banque du Caire

| foundation = {{start date and years ago|1995}}

| location = Arie Towers
Plot 16 Mackinnon Road
Nakasero, Kampala
Uganda

| key_people = Sylvia Jagwe Owachi
Executive Director
Immaculate Irumba
Chief Operating Officer

| num_employees = 146 (2020)

| assets = USh:378.563 billion (US$103.572 million) (June 2023).

| industry = Financial services

| products = Personal banking: checking, savings, kids and teens, investments, loans, debit cards

Business banking: checking, savings, investments, loans

Corporate & institutional banking

Treasury: foreign exchange, bid bonds

| homepage = {{url|https://cbu.co.ug}}

}}

Cairo Bank Uganda Limited (CBUL), formerly known as Cairo International Bank (CIB), is a commercial bank in Uganda.{{cite web| url=https://www.monitor.co.ug/uganda/business/finance/cairo-bank-changes-name-shifts-focus-1932806 |title=Cairo Bank Changes Name, Shifts Focus |newspaper=Daily Monitor |date=2 September 2020 |author=Daily Monitor |access-date=10 January 2021 |location=Kampala, Uganda}} It is licensed by the Bank of Uganda, the central bank and national banking regulator.{{cite web |

url=https://www.bou.or.ug/bou/bouwebsite/bouwebsitecontent/Supervision/Supervised_Institutions/Supervision/financial_institutions/2020/Jul/BANK-OF-UGANDA-SFIs-AS-AT-JUNE-30-2020_07-10-2020-3.pdf |title=List of Licensed Commercial Banks As At 30 June 2020 |publisher=Bank of Uganda |date=30 June 2020 |author=Bank of Uganda |

access-date=10 January 2021 |location=Kampala, Uganda}} It is a subsidiary of Egypt-based banking group, Banque du Caire Group.

Headquarters location

Cairo Bank Uganda has its headquarters at Arie Towers, at Plot 16 Mackinnon Road, Nakasero Hill, in the central business district of Kampala, Uganda's capital city.{{cite web|url=https://cbu.co.ug/contact-us/ | title=Contact Us: Head Office Location |publisher=Cairo Bank Uganda |date=September 2020 |author=Cairo Bank Uganda | access-date=10 January 2020 |location=Kampala}} The geographical coordinates of the bank's headquarters are: 0°19'17.0"N, 32°35'05.0"E (Latitude:0.321389; Longitude:32.584722).{{google maps| url=https://www.google.com/maps/place/0%C2%B019'17.0%22N+32%C2%B035'05.0%22E/@0.3213889,32.5847222,392m/data=!3m2!1e3!4b1!4m2!3m1!1s0x0:0x0 |title=Location of Headquarters and Main Branch of Cairo Bank Uganda, Kampala, Uganda |access-date=10 January 2021}}

Overview

CBUL focuses on serving small and medium businesses (SMEs), educational institutions, non-governmental organizations and corporate entities. In 2020, the bank re-branded and turned its focus on meeting the banking needs of SMEs. Cairo Bank Uganda Limited is a fully owned subsidiary by Banque du Caire (BDC), an Egypt-based financial services conglomerate with total assets in excess of US$12 billion, as of September 2020.{{cite web| url=https://businessfocus.co.ug/cairo-international-bank-rebrands-to-cairo-bank-uganda-promises-customers-new-innovative-products/ |title=Cairo International Bank Rebrands To Cairo Bank Uganda, Promises Customers 'New Innovative Products' |publisher=Business Focus Uganda |date=1 September 2020 |author=Taddewo William Senyonyi | access-date=10 January 2021 |location=Kampala}}

As of June 2023 the total assets of Cairo Bank Uganda were valued at USh378,563,372,000 (approx. US103,572,126) with shareholders' equity of USh163,190,161,000 (approx. US$44,647,616).{{cite web| url=https://www.cbu.co.ug/wp-content/uploads/2023/08/FINANCIAL-STATEMENT-FOR-JUNE-2O23.pdf?x67179 |title=Extract of Unaudited Financial Statements For The Period Ended 30 June 2023 |work=Cairo Bank Uganda Limited |date=July 2023 |access-date=10 October 2024 |location=Kampala, Uganda}}{{cite web| date= 1 March 2024 |url=https://www.ceo.co.ug/a-new-dawn-for-ugandas-cairo-bank-as-egyptian-shareholder-infuses-fresh-capital/ |title=A New Dawn For Uganda's Cairo Bank As Egyptian Shareholder Infuses Fresh Capital |work=CEO Magazine Uganda |author=Muhereza Kyamutetera |access-date=10 October 2024 |location=Kampala, Uganda}}

History

Incorporated as Cairo International Bank in 1995, the bank began operations in the same year following the issuance of a commercial banking license by the Bank of Uganda. In 2020, Banque du Caire, which owned 62.4 percent of the shares of stock of the Ugandan subsidiary, acquired the 24 percent shareholding owned by Bank Misr and the 13.6 percent owned by Bank of Egypt, to become the sole owner of 100 percent of the stock of the Ugandan bank.{{cite web|url=https://cbu.co.ug/about-cbu/ |

title=About CBU: Our History |publisher=Cairo Bank Uganda Limited |date=1 September 2020 |author=Cairo Bank Uganda |access-date=10 January 2021 |location=Kampala}}

Management board

Cairo Bank Uganda (CBU) is governed by an eight-person board of directors. Sylvia Jagwe Owachi is the managing director. She replaced Ahmad Maher Nada, the previous CEO, who left CBU and took up an assignment at Banque du Caire in Egypt, effective January 2022. He served as MD/CEO at CBU for three and one half years.{{cite web| work=PML Daily | url=https://www.pmldaily.com/business/2021/12/cairo-bank-uganda-bids-emotional-farewell-to-md-ahmed-maher.html |title=Cairo Bank Uganda bids emotional farewell to MD Ahmed Maher |date=17 December 2021 |access-date=17 December 2021 |author=Javira Ssebwami | location=Kampala, Uganda}}

Branch network

CBU has the following branches, as of September 2020:{{cite web| title=Branches of Cairo Bank Uganda | url=https://cbu.co.ug/contact-us/ |publisher=Cairo Bank Uganda Limited |date=1 September 2020 |access-date=10 January 2021 |author=Cairo Bank Uganda |place=Kampala}}

1. Main Branch : Lotis Towers, Plot 16 - Mackinnon Road, Nakasero, Kampala.

2. Kampala Road Branch: Greenland Towers, Plot 30 Kampala Road, Kampala.

3. Kikuubo Branch: Shamba Complex, Kyagwe Road, Kampala.

4. Garden City Branch: Garden City Shopping Mall, Yusuf Lule Road, Kampala.

5. Bugoloobi Branch: Plot 1-5 Spring Close, Bugoloobi, Kampala.

6. Bweyogerere Branch: Bweyogerere, Kira Town.

7. Mbarara Branch: Rwebikona Building, Mbarara – Fort Portal Road, Mbarara.

Rebranding

In September 2020, Cairo International Bank Limited changed its name to Cairo Bank Uganda Limited, relocated to new headquarter premises and changed focus to SME customers.{{cite web| url=https://www.newvision.co.ug/news/1526079/cairo-international-bank-rebrands |title=Cairo International Bank Rebrands |

work=New Vision |date=September 2020 |author=Nicholas Kajoba | access-date=13 May 2022 |location=Kampala, Uganda}}

See also

References

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