Orient Bank

Orient Bank

Type	Private
Industry	Financial Services
Founded	1993
Headquarters	Kampala, Uganda
Key people	Michael Cook, Chairman Maxwell Ibeanusi, Managing Director
Products	Banking
Revenue	Pretax:US$5.3 million (2009)
Total assets	US$132 million (2009)[1]
Website	Homepage

Orient Bank is a commercial bank in Uganda. It is one of the twenty-two (22) commercial banks licensed by Bank of Uganda, the national banking regulator.^[2]

Overview

The bank is involved in all aspects of commercial banking with emphasis on provision of banking services to non-government organisations (NGOs) and their staffs. As of December 2010^[update], Orient Bank is the 9th largest commercial bank in Uganda, with an estimated asset valuation of US$132 million, representing approximately 3% of all bank assets in the country.^[3]

Ownership

In April 2009, Bank PHB Group, a Nigerian financial services conglomerate, acquired 80% shareholding in Orient Bank for a reported sum of US$63.3 million.The other shareholders in the bank include members of the family that founded the bank in 1993, who today, jointly control 17% of shareholding in the bank. ^[4][5] The shareholding in Orient Bank is depicted in the table below:

Orient Bank Stock Ownership

Rank Name of Owner Percentage Ownership 1 Bank PHB Group 80.0 2 Ketan Morjaria 3 Rajni Karia 4 Jay Karia 5 Others 03.00 Total 100.0 Directors Orient Bank is governed by a seven (7) person Board of Directors of whom two (2) are Executive Directors and five (5) are non-Executive. Michael Cook, one of the non-Executive Directors, is the Chairman. Management team Maxwell Ibeanusi is the Managing Director. He has nineteen (19) other managers who assist him in running the bank. Branch Network As of June 2010, Orient Bank has a network of twelve (12) branches in the central, eastern and northern parts of Uganda. The bank has plans to expand services to the western parts of Uganda in the future. The branches of the bank include the following locations: [6] Head Office - Orient Plaza, Kampala Kampala Road Branch - Kampala Road, Kampala Jinja Branch - Busoga Square, Jinja Nkrumah Road Branch - Nkrumah Road, Kampala William Street Branch - William Street, Kampala Entebbe Downtown Branch - Kampala Road, Entebbe Entebbe Airport Branch - Entebbe International Airport Kawempe Branch - Bombo Road, Kawempe, Kampala Mbale Branch - Naboa Road, Mbale Gulu Branch - Awere Road, Gulu Garden City Branch - Garden City Mall, Kampala[7] Kabalagala Branch - Kabalagala, Kampala[8] See also Banking in Uganda List of banks in Uganda Bank PHB Group References ^ Orient Bank Total Assets 2009 ^ List of Licensed Commercial Banks In Uganda ^ Uganda Banks' Ranking of Asset Capital ^ Bank PHB buys 80% of Orient Bank ^ Orient Bank Shareholders Take URA To Court ^ Branches of Orient Bank ^ Orient Opens Branch At Garden City ^ Orient Bank Opens Branch in Kabalagala External links Bank PHB buys 80% of Orient Bank Orient Bank Website List of Commercial Banks in Uganda Shareholders in Orient Bank