PostBank Uganda, a socially oriented financial institution, aims to empower its customers in a sustainable manner.
The only government bank in Uganda, PostBank was incorporated in 1998. The bank started out offering only basic savings products, but has since grown to offer other services, including credit facilities, money transfers, bill collection and financial literacy programs. PostBank now operates 31 branches, with three mobile banking vehicles that take services to the unbanked in remote areas — an innovation PostBank introduced to Uganda in 2007. The bank also employs point of sale terminals in savings and credit associations throughout the country to increase its service delivery to the rural unbanked, who are mostly women. PostBank is supervised by the Bank of Uganda under the Financial Institutions Act.
PostBank has over 260,000 clients and is attracting a growing number of women. The bank offers low-cost pricing for its products and has introduced mentoring programs for its women customers. PostBank is the bank of choice for the Bulambuli Women Association, a group that has given PostBank more than 300 customers and is rated among the bank’s top 20 best performers.