12 June 2012

Uganda: Museveni Opens U.S. $40 Million Centenary Office

President Yoweri Museveni has unveiled the magnificent Mapeera House, which is Centenary Bank's new headquarters in the heart of Kampala, the capital city.

According to a statement released by the bank, President Museveni hailed the bank and the Catholic church in Uganda for setting up the modern corporate office which cost about $40 million (Shs100 billion).

The iconic Mapeera boasts of 19 floors, 24 teller counters and 16 Automated Teller Machines (ATMs), and 96 parking spaces. Construction of the building which began in September 2007 consists of 17,000 square meters of office space and about 16, 000 square meters for parking.

The bank said the office premises are designed with ample space to allow it to offer faster banking services in a convenient and conducive environment for its customers.

In his welcome remarks, Ddumba Ssentamu, the bank's chairman board of directors said, the opening of the masterpiece is a sign that the bank has come of age. "As we open the doors to Mapeera House, the newest jewel of our city, we affirm to the world that Centenary Bank is a mature, reliable bank with sound governance structures." Ssentamu said.

The bank's statistics indicate that its lending portfolio stands at Shs520 billion, while its assets are projected to hit the Shs1 trillion mark this year.

According to its financial statement for the year ended December 2011, the Bank's profit after tax surged to Shs 47.9billion in 2011 from Shs 29.4 billion recorded in 2010, despite the harsh economic environment that show year-on-year inflation hit a high mark 30.4% in October last year, the highest since 1993.

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