Guaranty Trust Bank (Uganda), commonly referred to as GT Bank Uganda, is a 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.[2] 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.[3]
Overview
As of, 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 Nigerian financial services conglomerate headquartered in Nigeria, with subsidiaries in several West, Central and East African countries.[4]