Union Trust Bank

Union Trust Bank
Private
Industry Financial Services
Founded 1995
Headquarters Freetown, Sierra Leone
Key people
 Dr. Sheku Tejan Kamara
Chairman
James Sanpha Koroma
Chief Executive Officer
Products Loans, Savings, Checking, Investments
Revenue IncreaseAftertax: US$1.35+ million (SLL:5.79 billion) (2012)
Total assets US$51.3 million (SLL:219.5 billion) (2012)
Number of employees
 210+ (2009)
Website Homepage

Union Trust Bank (UTB), whose full name is Union Trust Bank Limited, is a commercial bank in Sierra Leone. It is one of the commercial banks licensed by the Bank of Sierra Leone, the banking regulator in that country.[1]

Overview

The bank is a small, but growing, financial services provider in Sierra Leone. As of December 2012, the bank's total assets were valued at approximately US$51.3 million (SLL:219.5 billion), with an estimated shareholders' equity of approximately US$11.9 million (SLL:50.8 billion).[2] In November 2013, the bank was the fourth largest commercial bank in the country by assets. At that time, its total customer base stood at 66,947.[3]

History

UTB was founded in 1995 by Sierra Leonean individuals and corporations and was registered as a limited liability company. It began offering banking services following the issuance of a commercial banking license by the Bank of Sierra Leone. The initial capital investment of US$345,000 (SLL:1.5 billion), was increased to US$690,000 (SLL:3 billion) in 2004.[4]

Ownership

Union Trust Bank is a privately owned company. The exact shareholding in the stock of the bank is not publicly known at this time.

Branch Network

As of November 2013, UTB maintains branches at the following locations:[5]

  1. Main Branch - Lightfoot-Boston Street, Freetown
  2. Njala University Branch - Njala University, Mokonde Campus, Moyamba District[6]
  3. Kenema Branch - 19 Hangha Road, Kenema, Eastern Province
  4. Bo Branch - 7 Bojon Street, Bo, Southern Province
  5. Kono Branch - 5 Old Yengema Road, Koidu, Kono District
  6. Kambia Branch - Sierra Leone-Guinea Highway, Kambia
  7. Lumley Branch - Lumley Road, Freetown
  8. Kissy Branch - 49 Baibureh Road, Kissy, Freetown
  9. Magburaka Branch - Kono Makeni Highway, Magburaka
  10. Liverpool Street Branch - Liverpool Street, Freetown
  11. Brookfields Branch - Main Motor Road, Freetown
  12. New England Ville Branch - Jomo Kenyatta Road, Freetown
  13. Lunsar Branch - Lunsar[7]

See also

References

  1. ↑ List of Licensed Commercial Banks In Sierra Leone
  2. ↑ Audited December 2012 Financial Report
  3. ↑ UTB With 66,947 Customers In November 2013
  4. ↑ History of UTB
  5. ↑ Branches of Union Trust Bank
  6. ↑ UTB Opens Njala University Branch
  7. ↑ UTB Records Another Milestone
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