Union Trust Bank

Union Trust Bank (UTB), whose full name is Union Trust Bank Limited, is a commercial bank in Sierra Leone. It is licensed as a "commercial bank" by the Bank of Sierra Leone, the central bank and national banking regulator.[2]

Union Trust Bank
TypePrivate
Founded1995
Headquarters2 Howe Street
Freetown, Sierra Leone
Key people
Ajaratu M. Mahdi
Chairperson
James Sanpha Koroma
Chief Executive Officer
ProductsSavings, Checking, Investments
RevenueAftertax: SLL: 1.466 billion (US$197,000) (2015)[1]
Total assetsSLL:361.82 billion (US$48.6 million) (2015)[1]
Number of employees
280 (2015)[1]
WebsiteHomepage

Overview

The bank, according to its website, is the only privately owned indigenous commercial bank in the country, as of May 2017.[3] As of December 2015, the bank's total assets were valued at SLL:361.817 billion (approximately US$48.6 million), with shareholders' equity of SLL: 58.162 billion (approximately US$7.811 million).[1]

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.[3] On 17 March 2017, the bank celebrated the opening of its headquarters building, on Howe Street, in Freetown, performed by Ernest Bai Koroma the president of Sierra Leone.[4]

Branch Network

As of May 2017, 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[7] (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[8] (13) Lunsar Branch - Lunsar[9] (14) Yoni Branch - Mile 91, Freetown Bo Highway

See also

References
  1. Union Trust Bank (31 March 2016). "Union Trust Bank Annual Report for the Year Ending 31 December 2015" (PDF). Freetown. Retrieved 2 May 2017.
  2. Bank of Sierra Leone (2 May 2017). "List of Licensed Commercial Banks in Sierra Leone" (PDF). Freetown: Bank of Sierra Leone. Retrieved 2 May 2017.
  3. Union Trust Bank (2 May 2017). "Introduction to Union Trust Bank Limited (UTB)". Freetown. Retrieved 3 May 2017.
  4. State House Communications Unit (21 March 2017). "Sierra Leone News : "UTB Is an Indigenous Business Sierra Leoneans Should Be Proud of" – Says President Koroma". Awareness Times. Freetown. Retrieved 2 May 2017.
  5. Union Trust Bank (2 May 2017). "Branches of Union Trust Bank". Freetown. Retrieved 2 May 2017.
  6. Samba, Augustine (15 November 2010). "In Sierra Leone, UTB Opens Njala Branch & Launches students and graduates account". Awareness Times. Freetown. Retrieved 2 May 2017.
  7. Abu Bakarr Kargbo (18 February 2005). "Sierra Leone: Union Trust Bank Limited Open's Koidu Branch". Standard Times (Freetown). Retrieved 2 May 2017.
  8. Bampia J Bundu (15 September 2008). "Union Trust Bank Opens Branch in New England Freetown, Sierra Leone". Awareness Times. Freetown. Retrieved 2 May 2017.
  9. Pratt, Regina (5 November 2013). "Sierra Leone: UTB Records Another Milestone". Concord Times (Freetown) via AllAfrica.com. Freetown. Retrieved 2 May 2017.
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