Post bank has announced to be a fully-fledged Tier-one Commercial Bank licensed by the Bank Of Uganda effective this month.
Mr Julius kakeeto, the bank’s managing Director has said that the bank has 49 branches countrywide stretching from yumbe ,from kotido to masaka and also 400 agents.
He added that over the last 18 months the bank had rolled out measures that would strengthen post banks capacity across the country.
“What we have been doing is building the foundation, a solid foundation, because with a solid foundation, you can do so many things including competitiveness and growth,” Mr Kakeeto said.
The bank will now be working under a new license providing overdrafts, short to medium term loans, foreign Exchange facilities and discounts of bills of Exchange.
It will also be able to give guarantees bonds or other forms of collateral and also accept and place third party drafts and premisory notes connected with operations in which they take part.
The bank will also offer and provide financial and investing advice and participate in other inter-bank clearing systems.
Post Bank has become the 27th bank to operate in uganda under and a Tier-one category, this comes when the Bank has been a Credit Institution that gives loans for a purpose of consumption and investment to make profit.
