To mark its 38th anniversary, Finance Trust bank (FTB) has moved its corporate headquarters from the suburb of Katwe to Twed Plaza, Lumumba Avenue, Nakasero.
“The decision to relocate our head offices is right because what you used be microfinance customers have since grown to be corporates and they now deserve the service of being corporates,” said FTB managing director Annet Nakawunde.
She noted that the previous location had turned inaccessible for the regulator, customers, and bank shareholders, saying the move symbolizes the bank’s determination to continuously improve its offering to the customers by ensuring that its products and services are accessible in a convenient environment.
Nakawunde reported that FTB is one of the most profitable commercial banks in Uganda, with a large network of 35 branches including one in Kalangala islands. The bank, which has been in existence since 1984 has supported the growth of women-led businesses and now serves over 500,000 savers and 29,000 borrowers countrywide.
Dr Evelyn Kigozi Kahiigi, FTB board chairperson said the bank has introduced an array of alternate banking channels to enhance its products and service delivery whilst offering its customers greater convenience in banking. She also reported that the bank has since invested in technological advancements such as alternative banking channels to safeguard emerging threats.
“We have implemented systems and controls through sound management practices to safeguard against cyber threats. We will continue to strengthen our resilience in relation to combating cyber threats,” Kigozi said, also announcing that the board, is taking a keen interest in ensuring that the bank complies with the much sought-after environmental, social, and governance (ESG) policies.
“Whereas we have made tremendous strides in governance, we have deliberately put in place resources to ensure that the environment is preserved as we carry on our business transactions and support the emerging social issues. We shall go a long way in ensuring sustainability, reducing the cost of funding, and creating an environment conducive to further business progression and sustainability,” she said.
Dr Tumubweinee Twinemanzi, the executive director of supervision at the Bank of Uganda said the change in the location was a bold move and commended the bank for taking advantage of the enabling environment and reforms created by the central bank to become one of the best commercial banks.
“I want to commend the management and the board for taking this institution from where you did to where it is today. It’s a demonstration of a certain level of fortitude that is rarely seen these days,” Twinemanzi said.
Twinemanzi also urged the bank to pay close attention to the risks associated with relying on technology to provide services.
Source: The Observer