Fast-Growing Commercial Bank Focuses on Financial Inclusion in Service to the People of Uganda

Global Trust Bank, launched in November 2008, is a Ugandan bank whose diverse heritage is relevant in creating a customer-centric financial institution well positioned to serve the various needs of local entrepreneurs.

“We are a bank committed in service to our market,” explains Managing Director, Morenikeji Adepoju, who has more than 20 years of banking experience in anglophone and francophone West Africa. Global Trust Bank is a young and dynamic bank, attaining milestones at a remarkable pace. The bank translated into a profitable financial-services provider in barely three years of operations with total assets of around €28.1 million (US$35.1 million) and shareholders’ equity of around €16.7 million (US$21 million).

Global Trust Bank’s financial service offerings focusses on individuals, associations and corporate clients with a niche in local corporate, small and medium-scale entrepreneurs and retail segments. Global Trust Bank has distinguished itself in establishing commercial-banking presence in remote locations within the country that are hitherto unbanked or underserved. “Global Trust Bank operates in commercial cities but also has a dedicated focus in the rural areas requiring financial access,” says Morenikeji Adepoju. She adds, “Presently we appear to be the only commercial bank, with that kind of focus. The receptiveness and the appreciation of the people to our banking-service extension is most encouraging and fulfilling, a confirmation that our shareholders’ vision of a Global Bank with a local relevance will go a long way in enhancing development in East and Sub-Saharan Africa.”

Global Trust Bank offers a full range of banking services to essential sectors of the economy including commercial, education, agriculture, transportation, telecom, hospitality sectors and faith-based organisations. Our service offerings include e-banking, e-commerce and e-collections from a robust IT platform with even greater capacities. The bank is an approved collection agent for state and private essential-services providers, including the Uganda Revenue Authority (tax payments), water and sewer services, the National Social Security Fund (pension payments), educational institutions and telecom companies, for which the bank supports mobile-payment systems.

In May 2011, as part of its continuing drive to further enhance its services, the bank joined the Interswitch network, a bank-switch system which connects the ATMs of nine member banks.

Global Trust Bank is a strong supporter of Uganda’s on-going economic development. Morenikeji Adepoju says, “It is important to honour Uganda’s 50-year anniversary because it showcases significant transitions and noteworthy milestones the country has reached in its process of nation-building. Global Trust Bank is proudly positioned as an integral part of the national economic development, and we will continue to be the bank of choice for the People of Uganda.”