Centenary Bank

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.{{cite web | access-date=24 April 2014 |location=Kampala | url=http://allafrica.com/stories/201206190012.html?viewall=1 | title=Uganda's Largest Bank Opens Towers | date=17 June 2012 | newspaper=East African Business Week (EABW) via AllAfrica.com | author=EABW Staff}} 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.{{cite web |date=20 May 2016 |url=http://naibuzz.com/2016/05/20/8-biggest-banks-uganda/ |title=The 8 Biggest Banks In Uganda (As At May 2016) |author=Julian |location=Nairobi |access-date=28 July 2017 |publisher=Naibuzz.com |archive-date=31 July 2017 |archive-url=https://web.archive.org/web/20170731014240/http://naibuzz.com/2016/05/20/8-biggest-banks-uganda/ |url-status=dead }}

In May 2009, John Giles left the seat of Managing Director after three years at the position.The current Managing Director is Fabian Kasi{{cite web|url=https://www.observer.ug/component/content/article?id=3451:new-era-at-centenary-as-giles-bids-farewell|title=New era at Centenary as Giles bids farewell|website=Observer.ug|date=20 May 2009|author=Moses Talemwa|access-date=6 June 2020}} In 2011, the Centenary Bank launched a program with the World Bank Group to develop loans in the Ugandan agricultural sector.{{cite web|url=https://reliefweb.int/report/uganda/centenary-bank-world-bank-partnership-benefit-30000-farmers-uganda|title=Centenary Bank-World Bank partnership to benefit 30,000 farmers in Uganda|website=Reliefweb.int|date=12 July 2011|access-date=6 June 2020}}

In 2017, Centenary launched on a new core banking platform developed by the Greek company Intrasoft International S.A.{{cite web|url=https://www.fintechfutures.com/2017/01/centenary-bank-live-with-new-core-banking-system-profits/|title=Centenary Bank live with new core banking system, Profits|website=Fintechfutures.com|date=9 January 2017|author=Tanya Andreasyan|access-date=6 June 2020}} and signed a partnership with Mastercard to develop a broad suite of new mobile banking solutions.{{cite web|url=https://www.intelligentcio.com/africa/2017/07/20/centenary-bank-and-mastercard-partnership-will-transform-ugandas-economy/|title=Centenary Bank and Mastercard partnership will transform Uganda's Economy|website=Intelligentcio.com|date=20 July 2017|access-date=6 June 2020}} In December 2017, the Centenary Bank signed a deal with WorldRemit to allow transfer from the remittance service.{{cite web|url=https://www.mfw4a.org/news/uganda-centenary-bank-signs-deal-worldremit|title=Uganda: Centenary Bank Signs Deal With Worldremit|website=Mfw4a.org|date=29 December 2017|access-date=6 June 2020}} In May 2020, the bank launched instant paperless accounts for the unbanked Ugandan population.{{cite web| url=https://www.softpower.ug/faced-with-covid-impact-centenary-bank-launches-instant-paperless-account-opening-service/ | title=Faced with Covid impact, Centenary Bank Launches Instant Paperless account opening service| work=Softpower Uganda | date=27 May 2020 |access-date=6 June 2020}}

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In March 2023, Centenary Rural Development Bank acquired MyBucks Bank Malawi, hence becoming Centenary Bank Malawi, with over eight branches in the country.

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).{{cite web| work=PML Daily | url=https://www.pmldaily.com/business/2022/04/2021-centenary-bank-hits-a-record-ugx4-8-trillion-in-assets-and-ugx211-5-billion-net-profit.html |title=2021: Centenary Bank hits a record UGX4.8 trillion in assets and UGX211.5 billion net profit |date=29 April 2022 |author=Javira Ssebwami |access-date=30 April 2022 | place=Kampala, Uganda}} As of 31 December 2023, the bank's total assets had increased to USh 6.3 trillion (US$1.679 billion).{{cite web| work=The Independent (Uganda) |url=https://allafrica.com/stories/202405060212.html | title=Uganda's Biggest Banks Record Bumper Profits Amidst Industry Turmoil |date=6 May 2024 |author=Julius Businge |access-date=19 May 2024 |format=via AllAfrica.com |location=Kampala, Uganda}}

{{asof|December 2017}}, Centenary Bank had its headquarters in Kampala. Its headquarters building is Mapeera House, on Kampala Road opposite City Square. The bank had a network of 81 bank branches together with 157 linked automated teller machines at 115 locations in the Central, Western, Northern, and Eastern Regions. The bank had 1,493,554 deposit accounts.{{cite web|author=Centenary Bank |publisher=Centenary Bank | url=https://www.centenarybank.co.ug/uploads/page/Annual_report_2019.pdf |title=Annual Report for the Twelve Months Ended 31 December 2018 |date=27 April 2019 |access-date=2 July 2019 | location=Kampala}}

In December 2021, Centenary Bank unveiled a Cente Platinum Mastercard, a debit card for its premium customers.{{cite web| work=Sunrise Uganda |date=7 December 2021 | url=http://www.sunrise.ug/business/202112/centenary-gets-kudos-for-unveiling-mastercard-debit-card.html |title=Centenary gets kudos for unveiling Mastercard debit card |author=Sunrise Uganda |

access-date=25 January 2021 |location=Kampala, Uganda}}

Centenary Bank is a component of the Centenary Group of companies. The multinational conglomerate comprises:

• Centenary Bank Uganda Limited, a large commercial bank in Uganda
• Centenary Technology Services Limited (Cente-Tech), an information and communications company, responsible for the ICT functions within the group.{{cite web | url=https://www.pmldaily.com/business/2022/02/tier-3-data-center-to-be-built-in-masaka.html/ |title=Tier 3 Data Center to be built in Masaka |work=PML Daily |date=4 February 2022 |author=Nelson Mandela |access-date=20 April 2024 |location=Kampala, Uganda}}
• Centenary Foundation, a non-government non-profit organisation, charged with promoting and executing the group's social programs.
• Centenary Bank Malawi. A commercial bank in Malawi, majority owned by the Centenary Group of Uganda with minority shareholding by the Roman Catholic Archdiocese of Lilongwe.{{cite web|url=https://nilepost.co.ug/2023/03/11/ugandas-centenary-bank-granted-licence-to-extend-wings-to-malawi/ | title=Uganda's Centenary bank granted licence to extend wings to Malawi |work=Nile Post Uganda |date=11 March 2023 |author=Kenneth Kazibwe |access-date=20 April 2024 |location=Kampala, Uganda}}

{{asof|December 2021}}, the bank's stock was privately owned by the following corporate entities and individuals:{{cite web| work=Watchdog Uganda |date=29 April 2022 |url=https://www.watchdoguganda.com/business/finance/20220429/135206/2021-centenary-bank-hits-a-record-ugx4-8-trillion-in-assets-and-ugx211-5-billion-net-profit.html |title=Centenary Bank hits a record UGX4.8 trillion in assets and UGX211.5 billion net profit |author=Watchdog Uganda |access-date=1 May 2022 |place=Kampala}}

• Banking in Uganda
• List of banks in Uganda
• List of tallest buildings in Kampala
• Asset allocation among commercial banks in Uganda
• Mapeera House

{{reflist}}

• [http://www.centenarybank.co.ug/ Centenary Bank Website] {{Webarchive|url=https://web.archive.org/web/20051219224235/http://www.centenarybank.co.ug/ |date=19 December 2005 }}
• [http://www.observer.ug/index.php?option=com_content&view=article&id=2221:savings-trust-that-grew-into-peoples-bank&catid=38:business&Itemid=68  History of Centenary Bank]

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Category:Banks of Uganda

Category:Kampala Central Division

Category:Banks established in 1983

Category:1983 establishments in Uganda

Category:Companies based in Kampala

Category:Centenary Bank

Category:Centenary Group

Category:Ugandan brands