PostBank Uganda (PBU) is a public company limited by shares and formed under the Public Enterprises Reform and Divestiture Statute of 1983 and the Uganda Communications Act, 1997. It was incorporated under the Companies Act in 1998 and is owned by the Government of Uganda with 100% shareholding.
PBU is regulated by Bank of Uganda as a financial institution regulated by the Central bank under the financial institutions act of 2004.
Our Vision: To be a market leader in advancing financial inclusion.
Our Mission: We are a nationwide Financial Institution offering affordable Services in a sustainable manner for social economic development.
Strategic focus: The bank employs a rolling budgeting approach and has a three year strategic plan aimed at increasing financial inclusion. PBU is focusing on delivering demand driven products and services to the bottom of the market Pyramid. The bank is privileged to be undertaking linkage banking for the poor under the world Savings Bank Institute (WSBI) aimed at doubling the number of usable accounts among the poor and leverage on technology for financial inclusion.
Market segment served: PBU is a double bottom line focused bank serving the mass market in Uganda with both profit and social mission. The small and medium enterprises are the core of our market niche.
Products and services offered: The bank offers a wide range of products and services, these include: savings accounts, Transactional accounts, Business Accounts, Group Accounts, Village Savings and Loan associations (VSLA) Accounts, VSLA individual accounts, Cashless Transactions, Mobile phone banking, Internet Banking, pre-paid card transactions, mobile money (Push and Pull), Mobile Money, cash management and credit services. The bank also offers funds transfer services through its own speedie service as well as being an agent for western Union and Money gram.
Other services include bill collection, Free Umeme Collection, Salary Payments, School Fees Collection, National water, URA, E-tax payments, Traffic Penalty payments, funds transfer, airtime purchase, permit fees and passport fees.
Delivery channels /network. The bank has a multi delivery approach to better serve the mass market. Some of the channels currently used include:-
- Branch network: PBU has 37 brick and mortar branches across the country.
- Mobile banking vehicles: There are nine functional mobile banking vehicles serving the East, Western, North and central parts of the country.
- Point of Sales (POS): Over 90 POS terminals have been deployed in various SACCOs across the country.
- Mobile money transfer services: PBU signed up the three telecom service providers currently offering these services. i.e. MTN, Airtel, and Africell .
- Funds transfer: PBU is an agent of Western Union, Money gram and has its own service Speedie for local money transfers and are part of the SWIFT network.( PBU GKA)
ICT: The bank uses state of the art technologies constituting a core banking information system (Finacle) which is a comprehensive integrated yet a modular business solution and has a capacity to support the banks growth for the long term we have recently upgraded our systems to Finacle version7.1 Which makes it more user friendly, more secure to be used by any financial institution. It is also highly parameterizable providing much needed flexibility to innovate and adapt to a dynamic environment.
Processes: PBU has put in place efficient processes to manage its increasing customer base. Such technology based processes include mobile money and school fess collection, mobile phone banking and internet banking, Cashless transactions, debit card Transactions, Mobile money Push and Pull transaction and interface for utility bill . Example include NWSC, Umeme, Makerere University, NSSF and cash collection services for banks like Diamond Trust Bank, Tropical Bank, Finance Trust Bank, Commercial Bank of Africa Citi Bank and bulk salary and pension processing.
Human Resources: The bank has attracted professional staff to run the core business. The work force of over 700 experienced, committed and motivated employees is a strong hinge to run the banks in a profitable and sustainable manner. The regional branches have the full support and backing of the PostBank head office in Kampala, with frequent rotation of specialist staff who ensure that our PostBank branches meet the financial needs and expectations of our customers country-wide.
Our presence: We are one of the largest national banks with the widest network in Uganda with over 37 brick and mortar branches and Point of sale locations across the country.
Mobile Banking vehicles:
With support from DFID, PostBank (U) Ltd pioneered this rural outreach solution starting with two mobile banking vans in 2007. The bank and DFID shared a vision of reaching rural, unbanked, hard to reach areas where most banks could not set-up traditional brick and Mortar branches because of longer periods on return on Investments and coupled with high operational costs because of low savings and income generating activities yet there was need for financial inclusion and deepening for all people in the country. Over time, a number of partners including CLUSA (USAID) Uganda Rural Challenge Fund, ABi Trust among others, have joined the bank to increase on the fleet and the operations and reach to various areas. The more the fleet, the lower the operational costs to the bank and the more people get enrolled in the rural unbanked areas. This model therefore has generated much longer term benefits beyond the mere financial payments or transfers to beneficiaries.
The bank now boasts of a total of nine vehicles. It’s a model which has been shared with other partners like BAT, WFP, Action for Hunger etc because of its enormous benefits alongside serving the other partners who financed the fleet thereby having an edge and role model leaders for this solution.
PostBank subscribes to a number of umbrella organizations like Uganda Institute of Bankers, Association of Microfinance Institutions (AMFIU); Association of Savings Banks of East Africa and the World Savings and Retail banks Institute.
Postbank Uganda Ltd is frequently reinventing itself to serve you better. Walk into any of our branches country wide or log on to www.postbank.co.ug or call toll free 0800217200 and enjoy our exciting products and services.