DFCU Bank

DFCU Bank

Type	Public: USE: DFCU
Industry	Financial Services
Founded	1964
Headquarters	2 Jinja Road Kampala, Uganda
Key people	Bill Irwin Chairman Juma Kisaame Managing Director
Products	Loans, checking, savings, investments, debit cards, credit cards, mortgages
Revenue	Aftertax: US$ 11.5 million (UGX:30 billion) (2012)
Total assets	US$388.9 million (UGX:981.1 billion) (2012)
Employees	384 (2008)
Website	Homepage

DFCU Bank, commonly known as DFCU, but whose full name is Development Finance Company of Uganda Bank Limited, is a commercial bank in Uganda. It is one of the regulated financial institutions, licensed by the Bank of Uganda, the Central Bank and national banking regulator.

Overview

DFCU Bank is a major player in the financial sector, with an estimated asset base of nearly US$389 million (UGX:981.1 billion) as of December 2012, representing about 7% of all bank assets in Uganda, with shareholders' equity of approximately US$46.7 million (UGX:114 billion). In 2012, the bank was the fifth-largest commercial bank in Uganda, by assets.

History

DFCU Bank was established in 1964 as a development finance company; Development Finance Company of Uganda. In 2000, DFCU acquired the assets of Gold Trust Bank, a commercial bank that had failed. DFCU transformed into a commercial bank at that time. In 2005, the shares of DFCU Group, the parent company of DFCU Bank, were listed on the Uganda Securities Exchange, where they trade under the symbol:DFCU.

DFCU Bank ownership

DFCU Bank is a subsidiary of DFCU Group, which includes the following companies:

• DFCU Limited
• DFCU Bank
• DFCU Leasing Limited
• Rwenzori Properties Limited
• Nakasero Properties Limited

DFCU Limited is the holding company and is listed on the Uganda Securities Exchange, where it trades, under the symbol DFCU.

DFCU Group ownership

As of April 2013, Actis, a subsidiary of the CDC Group Plc., which at that time owned 60.02% of the stock of DFCU Group, began negotiations to sell some of the stock to Norfund of Norway and Rabo Development BV of the Netherlands. When those negtotiations are concluded, the stock ownership in the company will look as depicted in the table below:

DFCU Group Stock Ownership

Rank Name of owner Percentage ownership 1 Norfund 27.54 2 Rabobank 27.54 3 CDC Group Plc. 15.00 4 National Social Security Fund (Uganda) 5.93 5 Investec Asset Management Fund Africa 4.34 6 Investec Asset Management Pan Africa Fund 2.73 7 Investec Asset Management 1.14 8 Central Bank of Kenya Pension Fund 0.76 9 PineBridge Sub-Saharan Africa Equity Master Fund 0.65 10 Dyer & Blair Investment Bank 0.63 11 Bank of Uganda Staff Retirement Fund 0.58 12 Nearly 3,800 Other Investors 13.16 Total 100.00 Branch network With headquarters in Kampala, DFCU Bank has branches in central, eastern, northern and western Uganda. As of August 2012, the bank had opened a total of thirty branches in Uganda. DFCU Bank has also announced plans to expand into the East African Countries of Kenya, Tanzania, Rwanda, Burundi and South Sudan. The bank's branch network includes the following locations, arranged alphabetically: Abim Branch - Abim Acacia Branch - 24 Acacia Avenue, Kololo, Kampala Arua Branch - 6 Hospital Road, Arua Bugoloobi Branch - Kagga House, 2 Bandali Rise, Bugoloobi, Kampala Dokolo Branch - Bata Road, Dokolo Entebbe Road Branch - Freedom City Mall, Namasuba, Kampala Gulu Branch - 3 Princess Road, Gulu Hoima Branch - Kasangaki Building, 58 Main Street, Hoima Impala House Branch - Impala House, 13 Kimathi Avenue, Kampala Isingiro Branch - 36, Kikagate Road, Isingiro Jinja Branch - 10 Lady Alice Muloki Road, Jinja Jinja Road Branch - 2 Jinja Road, Jinja Road, Kampala Main Branch Kampala City Hall Branch - Kampala Capital City Authority Complex Kawempe Branch - Kampala-Gulu Highway, Kawempe, Kampala Kikuubo Branch - Kikuubo Arcade, Kampala Kitgum Branch - 19 Janan Luwum Street, Kitgum Lira Branch - 4 Soroti Road, Lira Lugogo Branch - Lugogo Mall, Kampala Makerere Branch - 45 Pool Road, Makerere University Campus Market Street Branch - 13 Market Street, Kampala Masaka Branch - 22 Kampala Road, Masaka Mbale Branch - 2 Court Road, Mbale Mbarara Branch - 73 High Street, Mbarara Naalya Branch - Quality Shopping Mall, Naalya Ndeeba Branch - 224 Masaka Road, Ndeeba, Kampala Nsambya Branch - Ggaba Road, Nsambya, Kampala Ntinda Branch - Capital Shoppers City, Ntinda Road, Ntinda, Kampala Owino Market Branch - Kafumbe Mukasa Road, Kampala Pader Branch - 8 Lagwai Zone B, Pader William Street Branch - 8 William Street, Kampala DFCU House DFCU Group is in the process of building its new headquarters, which will also house the main branch of DFCU Bank. The building will be known as DFCU House and will rise an estimated ten stories high. Located at 26 Kyaddondo Road, on Nakasero Hill, in Kampala's central business district, the development will have underground and surface parking, as well as rentable, retail and office space on several levels. External links DFCU Group DFCU Financial Performance in 2009 See also DFCU Group Banking in Uganda List of banks in Uganda List of tallest buildings in Kampala References