Bank of Uganda licenses two new commercial banks

    Bank of Uganda has issued commercial banking licenses to two financial institutions, bringing the total num of commercial banks in Uganda to 26.

    The central bank granted the commercial Banking (Class1) license certificates to Afriland First Bank Uganda Limited effective September 12, 2019, and Opportinuty Bank Uganda Limited effective September 13, 2019.

     

    Opportunity Bank has previously been trading as a credit Institution (Tier 2) and has now transformed to a commercial bank (Tier 1) institution.

     

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