• Source: Pride Bank Limited

      • Pride Bank Limited (PBL), is a Tier II credit institution in Uganda. It is licensed by the Bank of Uganda, the central bank and national banking regulator.


      Overview


      As of December 2023, the institution's total assets were valued at UGX:455,557,125,000 (approx. US$125.56 million), with shareholders' equity of UGX:168,557,125,000 (US$46.46 million). During the 12 months ending 31 December 2023, the institution made an after-tax profit of UGX:7,687,853,000 (approx. $2.12 million).


      History


      PMFL was founded in 1995 as a non-governmental organization with the support of the Norwegian Agency for Development Cooperation. Its major objective was to offer credit to the poor, targeting those in the agricultural sector. In 1999, it was incorporated as a limited company and changed its name to Pride Africa Uganda Limited. The institution provides financial services to that segment of the Ugandan population who are not served or are unable to access financial services through Ugandan commercial banks. PBL's focus are the micro, small, and medium size entrepreneurs. It is therefore prohibited from dealing in foreign exchange. In 2003, the Uganda government acquired 100 percent shareholding in the enterprise, changing the name to Pride Microfinance Limited Uganda. In 2005, it attained the status of a Tier III (an MDI), according to the Banking Act of 2003.
      In February 2016, Ugandan media reported that the government was planning to merge PMFL with PostBank Uganda, to form an agricultural bank.


      Products



      As of June 2014, the products offered included:


      = Deposit products

      =
      Pride Smart Savings Account
      Pride Akiba Savings Account
      Fixed Deposit Account
      Minor’s Savings Account
      Group Savings Account
      Loan Insurance Fund
      Save As You Earn (SAYE) Account


      = Loan products

      =
      Group Guaranteed Loans
      Individual Loans
      Salary Loans
      Mortgage and Asset Financing Loan
      Agricultural Loan Scheme
      School Fees Loan


      = Other services

      =
      Money Transfer Services - Through Western Union and MoneyGram
      Death, disability, and catastrophe insurance products to loan clients - Offered through AIG Insurance.


      Branch network


      The entire branch network of the company included the following locations, as of June 2014:

      Arua Branch - Avenue Road, Arua
      Bugiri Branch - Mivule Road, Bugiri
      Bukoto Branch - Victoria Office Park, 6-9 Ben Kiwanuka Okot Close, Bukoto, Kampala Main Branch
      Bushenyi Branch - High Street, Bushenyi
      Buwenge Branch - Kamuli Road, Buwenge
      Kampala City Branch - Mukwano Arcade, Kampala
      Fort Portal Branch - Rukidi Road, Fort Portal
      Gulu Branch - Cemetery Road, Gulu
      Entebbe Road Branch - Metropole House, Entebbe Road, Kampala
      Hoima Branch - Old Tororo Road, Hoima
      Ibanda Branch - High Street, Ibanda
      Iganga Branch - Main Street, Iganga
      Ishaka Branch - Rukungiri Road, Ishaka
      Jinja Branch - Main Street, Jinja
      Kabalagala Branch - Muyenga Road, Kabalagala
      Kabale Branch - Kabale Road, Kabale
      Kabingo Branch - Kabingo Trading Center, Isingiro District
      Kabwohe Branch - Mbarara Road, Kabwohe
      Kagadi Branch - High Street, Kagadi
      Kasese Branch - Saad Building, Kasese
      Katwe Branch - Katwe Road, Katwe
      Kawempe Branch - Bombo Road, Kawempe
      Lira Branch - Oboe Avenue, Lira
      Lugazi Branch - Ntenga Road, Lugazi
      Masaka Branch - Kampala Road, Masaka
      Mbale Branch - Republic Street, Mbale
      Mbarara Branch - High Street, Mbarara
      Mukono Branch - Kampala-Jinja Highway, Mukono
      Nakawa Branch - UMA Show Ground, Nakawa
      Naakulabye Branch - Hoima Road, Basiriak Building, Naakulabye
      Nateete Branch - Masaka Road, Nateete
      Pader Branch - Main Street, Pader
      Rukungiri Branch - Rukungiri Road, Rukungiri
      Soroti Branch - Solot Avenue, Soroti
      Wandegeya Branch - Bombo-Gayaza Roundabout, Wandegeya


      See also


      Banking in Uganda
      List of banks in Uganda
      FINCA Uganda Limited
      Finance Trust Bank


      References




      External links


      History of Pride Microfinance

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