Nile Bank
IndustryBanking
Founded1988
Defunct2007
FateAcquired by Barclays Bank and merged into Barclays Bank Uganda
HeadquartersKampala, Uganda
ProductsBanking services
financial services
WebsiteHomepage

Nile Bank Ltd was a private bank registered in Uganda, with shareholders from Uganda, Israel, and South Africa. Nile Bank has an emphasis on consumer banking.

History

Nile Bank was established in 1988 for the purposes of providing banking services to the public at a time when low cost banking was almost non-existent in Uganda. By 1992 the bank had two branches and has since expanded to six branches including branches in Mbarara, Entebbe and Jinja. The bank has around 90,000 customers and in January 2003, Nile Bank became one of the first Ugandan banks to receive ISO certification.

In June 2007 Nile Bank was purchased by Barclays bank. Barclays decided to merge the two client-bases and do an IT systems upgrade at the same time.[1]

Operations

Automated telling Nile Bank's operations are centered in the capital city of Kampala. The bank has invested in providing 24-hour banking services to its target mass market. The bank has 21 Automated Teller Machines (ATMs) in and around Kampala and 3 in Mbarara, Entebbe and Jinja bringing the total to twenty four (24) by January 2004.

Credit department Nile Bank offers CreditSource for consumer loans; FlexiSource for small and medium-sized enterprises (SMEs); WheelSource for automobile loans; and EntertainmentSource for television and satellite dish purchase.

Western Union Nile Bank is a leading Ugandan agent for Western Union's money transfer service, handling over 200,000 transactions per year.

Dissolution

In June 2007, 100% of Nile Bank Limited was acquired by Barclays Bank from the main shareholder, Israeli businessman Hezi Bezalel, and became part of Barclays Bank (Uganda) Limited.[2]

See also

References

  1. ↑ This caused a steep drop in the services level and Barclays lost a lot of clients as a result. See Barclays’ crashing ATMs tests customers’ patience
  2. ↑ "Personal". Barclays. Retrieved 2017-09-05.
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