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{{Short description|Tier II financial institution in Uganda}}

{{Infobox company
| name = Guaranty Trust Bank (Uganda)
| logo = Gt Uganda Logo.png
| type = [[Subsidiary]] of [[Guaranty Trust Holding Company PLC|Guaranty Trust Holding Company]]
| foundation = {{start date |2008}}
| location = Plot 56 Kira Road, [[Kampala]], [[Uganda]]
| key_people = '''Jaqueline Busingye'''<br/>[[Chairperson]]<ref name="Top"/><br/>'''Oluwole Shodiyan'''<br/>[[CEO|MD/CEO]]<ref name="Top">{{cite web|url=https://www.gtbank.co.ug/about/our-company/people/ |title=The Board of Directors of GT Bank Uganda | date=2 April 2024 |work=GT Bank Uganda |author=GT Bank Uganda | access-date=2 April 2024 |location=Kampala, Uganda}}</ref>
| num_employees =
| assets = UGX:225 billion (approx. US$58.22million) (2019)
| parent = [[Guaranty Trust Bank]]
| revenue = {{Profit}}Aftertax: UGX1 billion (US$259,000) (2019)
| industry = [[Financial services]]
| products = Loans, savings, [[investments]], [[debit cards]], [[credit cards]]
| homepage = {{URL |http://gtbank.co.ug/home/}}
}}

'''Guaranty Trust Bank (Uganda)''', commonly referred to as '''GT Bank Uganda''', is a [[Banking in Uganda#Tier II financial institutions|Tier II]] credit services company in [[Uganda]]. It was previously licensed as [[commercial bank]] by [[Bank of Uganda]], the [[central bank]] and the national banking regulator of that country.<ref>{{cite web | work=[[Bank of Uganda]] | url=https://bou.or.ug/bouwebsite/bouwebsitecontent/Supervision/Supervised_Institutions/Supervision/financial_institutions/2023/LICENSED-COMMERCIAL-BANKS-AS-AT-MARCH-31-2023-1.pdf/ | title=List of Licensed Commercial Banks As At March 2023 | author=Bank of Uganda | date=31 March 2023 | access-date=2 April 2024 | location=Kampala, Uganda | archive-date=20 February 2024 | archive-url=https://web.archive.org/web/20240220083524/https://bou.or.ug/bouwebsite/bouwebsitecontent/Supervision/Supervised_Institutions/Supervision/financial_institutions/2023/LICENSED-COMMERCIAL-BANKS-AS-AT-MARCH-31-2023-1.pdf | url-status=dead }}</ref> The Bank of Uganda gave GTBank Uganda from 1 April 2024 until 30 June 2024 to transition from a Tier I commercial bank to a Tier II credit company, due to capitalization issues.<ref name="CapR">{{cite web|url=https://techcabal.com/2024/03/27/gtbank-downgraded-by-uganda/ |title=GTBank loses commercial bank status after Bank of Uganda reclassification |work=TechCabal |date=27 March 2024 |author=Adonijah Ndege |access-date=2 April 2024 | location=Lagos, Nigeria}}</ref>

==Overview==
{{As of|December 2019}}, GT Bank Uganda had assets valued at UGX:225 billion (approx. US$58.22 million) with shareholders equity of UGX:38 billion (approx. US$9.83 million). That calendar year, the institution made UGX:2 billion (approx. $518,000) in pre-tax profit and UGX:1 billion (approx. $259,000) in after-tax profit, the first time the institution was profitable in the previous 12 years. GT Bank Uganda is a subsidiary of [[Guaranty Trust Bank]] (GTB), a [[Nigeria]]n financial services [[conglomerate (company)| conglomerate]] headquartered in Nigeria, with subsidiaries in several [[West African|West]], [[Central Africa|Central]] and [[East Africa]]n countries.<ref name="DataR">{{cite web| date=April 2020 | url=https://www.gtbank.com/investor-relations/investor-news/gtbank-uganda-declares-ugx2-billion-profit-after-12-years-of-operation/ |title=GTBank Uganda Declares UGX2 Billion Profit After 12 Years of Operation |work=[[Guaranty Trust Bank]] |author=GTBank Group | access-date=2 April 2024 |location=Lagos, Nigeria}}</ref>

==History==
GT Bank (Uganda) was founded in 2008 as [[Fina Bank (Uganda)]], a subsidiary of the [[Fina Bank Group]] based in [[Kenya]]. In 2013, the Group sold 70 percent shareholding to GTB for a cash consideration of US$100 million.<ref>{{cite web| access-date=3 November 2016 | url=http://www.businessdailyafrica.com/Corporate-News/Nigerian-lender-to-buy-70-pc-stake-in-Kenya-Fina-bank/539550-1918982-view-printVersion-5pe6kuz/index.html |title=Nigerian lender to buy 70 pc stake in Kenya's Fina bank |date=November 2013 | newspaper=[[Business Daily Africa]] | last=BDA Reporter | location=Nairobi}}</ref><ref name="Buy">{{cite web | access-date=3 November 2016| date=23 January 2014 |location=Kampala | url=http://www.newvision.co.ug/new_vision/news/1336857/fina-bank-uganda-sold-nigerian-bank | title=Fina Bank Uganda Sold To Nigerian Bank Group}}</ref> In January 2014, the bank rebranded to its current name to reflect its current shareholding.<ref name="Buy"/><ref>{{cite web| url=https://www.bloomberg.com/news/articles/2014-02-04/nigeria-s-guaranty-trust-completes-purchase-of-kenya-s-fina-bank | title=Nigeria's Guaranty Trust Completes Purchase of Kenya's Fina Bank | access-date=3 November 2016 | publisher=[[Bloomberg L.P.|Bloomberg News]] | first=Chris | last=Kay| date=4 February 2014}}</ref>

==Reclassification to Tier II class==
In Q2 2022, the Ugandan Minister of Finance, in consultation with the Bank of Uganda, signed new regulations raising minimum capital levels for commercial banks from UGX:25 billion (approx. US$6.7 million) to UGX:150 billion (approx. US$40 million) by 30 June 2024. Due to its inability to raise the minimum capital requirements as stipulated, GTBank Uganda was authorized to downgrade to a Tier II credit financial institution, whose minimum capital requirements of UGX:25 billion (approx. US$6.8 million) it met, at that time.<ref name="ApplyR">{{cite web|date=28 March 2024 |url=https://techpoint.africa/2024/03/28/gtbank-others-transition-credit-institutions/ |title=GTBank and 2 others to transition to credit institutions in Uganda by June |work=TechPoint Africa | author=Osamu Ekhator |access-date=2 April 2024 |location=Lagos, Nigeria}}</ref><ref name="ReclassR">{{cite web|date=28 March 2024 |url=https://chimpreports.com/financial-difficulties-3-banks-downgraded-to-credit-institutions/ |title=Financial Difficulties: 3 Banks Downgraded to Credit Institutions |author=Christopher Kiiza | access-date=2 April 2024 | location=Kampala, Uganda}}</ref>

==Branch Network==
{{asof|April 2024}}, GT Bank Uganda has a network of branches at the following locations:<ref>{{cite web| work=[[Linkedin.com]] | url=https://ug.linkedin.com/company/guaranty-trust-bank-u-ltd#:~:text=About%20us,Makerere%20branch%20and%20Nakivubo%20Branch |title=List of GT Bank Uganda Branches |author=GT Bank Uganda | date=2 April 2024 |access-date=2 April 2024}}</ref>

* '''Main Branch''': 56 Kira Road, [[Kamwookya]], [[Kampala]]
* Buganda Road Branch: 7 Buganda Road, [[Kampala]]
* Nakivubo Road Branch: 34-38 Nakivubo Road, [[Kampala]]
* Industrial Area Branch: 13 Mulwana Road, [[Kampala]]<ref>{{cite web| url=http://www.newvision.co.ug/new_vision/news/1200626/fina-bank-targets-industrial | title=Fina Bank Targets Industrial Area | newspaper=[[New Vision]] | date=1 December 2009 | author=Vision Reporter| access-date = 3 November 2016}}</ref>
* Mbarara Branch: 52-54 High Street, [[Mbarara]]
* Kyaliwajjala Branch: 31 Namugongo Road, [[Kyaliwajjala]], [[Kira Town]]
* Colville Street Branch: 5-6 Colville Street, Kampala
* Makerere Branch: [[Makerere]].

==See also==
{{Portal|Banks}}
*[[List of banks in Uganda]]
*[[Banking in Uganda]]
*[[Guaranty Trust Bank (Kenya)]]
*[[Guaranty Trust Bank (Rwanda)]]

==References==
{{reflist}}

{{Kampala District}}
{{Economy of Uganda}}

[[Category:Banks of Uganda]]
[[Category:Banks established in 2008]]
[[Category:2008 establishments in Uganda]]
[[Category:Companies based in Kampala]]

Guaranty Trust Bank (Uganda) - Revision history

imported>InternetArchiveBot: Rescuing 1 sources and tagging 0 as dead.) #IABot (v2.0.9.5