It is my great pleasure to welcome each one of you to this historic event and to appreciate each one of you for taking your time, to be here with us this morning.
Let me start by saying that I am truly humbled by the confidence of our board of directors to appoint me as Chief Executive Officer, NCBA Bank Uganda Limited, which is part of NCBA Group Plc.
As a combined entity, NCBA has a significant capital base, a strong liquidity profile and a well-motivated team, with a strong focus on exceeding customer expectation.
NCBA has presence in 5 countries in the region, will over 100 branches and ATMs.
The merger of NC Bank and CBA in Uganda, has opened a new chapter in the growth and expansion of our business.
With increased lending capacity, cost efficiency, profitability metrics and a strong, diverse team, this a good start towards achieving our ambition, to be one of the largest banks in Uganda. Bringing two great institutions together!
This is a merger of two strong and very ambitious financial institutions with a rich banking history spanning, a combined 117 years. NC Bank Uganda Limited was a subsidiary of NIC Group Plc.
NIC was incorporated in 1959 and was amongst the first non-bank financial institutions to provide hire purchase and instalment credit finance facilities in Kenya.
In Uganda, NC Bank opened its doors to the public in June 2012.
Over the years, NC Bank has recorded growth and transformed itself into a significant player in the financial services industry, particularly as one of the leading banks providing the Asset Finance Solution.
CBA Uganda Limited on the other hand was a subsidiary of Commercial Bank of Africa Limited, which began as a subsidiary of a consortium of four international banks, in 1962.
CBA has been the largest privately-owned bank in East Africa and so far has been in operation for over 56 years. CBA started its operation in Uganda in March 2014.
CBA Uganda in partnership with MTN was the first in the market to introduce the well-known mobile savings and loans solution, MoKash, which currently serves over seven million customers, in Uganda.
Ladies and Gentlemen, as we come to a close of our glorious pasts, I celebrate the rich history of these two great institutions, which have laid the foundation for our new future. Today marks a new beginning. Welcome to NCBA!
The NCBA name and logo, is a reflection of both banks’ values, borrowing from the best of both and building new strengths to deliver a better banking experience within the industry and for our customers. You might ask the question: What does the name NCBA mean?
Our name NCBA, represents the coming together of NC and CBA and it’s just the beginning.
As NCBA we’ve retained the best of both, harnessing our collective strengths and values to build a stronger, more agile bank, to better serve all customers, setting a new standard in service delivery and banking.
Is the name NCBA an acronym for something? On their own, the letters don’t stand for anything.
There is no hidden meaning, no smoke and mirrors, or clever jargon: just like the new bank.
Our name represents two proud banks, coming together to bring customers a more compelling and complete offering under one roof.
Our name is not an acronym for anything, but it is promise that you can expect a better bank, because we have combined the best of both for you – our customers, staff, shareholders and other stakeholders.
What does the logo represent?
Regarding the Logo, the joint Board of Directors from both banks were clear that NCBA has to set its sight across Africa.
Therefore, retaining the map of Africa, as an icon of our vision, was key. With that said, we needed to bring new and symbolic meaning to the icon to galvanise all staff to the shareholders’ vision.
If you look carefully at the map, you will notice the silhouette of Africa is formed by shapes inspired by the Greater Than Symbol.
This was very intentional, because it represents the coming together of the two banks. Two is always greater than one! NCBA is a truly African bank that will: – strive to empower our customers’ daily goals, – nurture their greatest ambitions and – believes in their go-getter spirit.
Ladies and Gentlemen, NCBA will be no ordinary bank. It’s a new kind of bank. A smart bank geared for the future.
A bank that champions our customers by putting them at the heart of our business, digitally and physically.
NCBA is built on ambition, drive, collaboration, commitment and innovation.
“Inspiring greatness” is built into NCBA’s DNA!! It is my honour and privilege to introduce the new face of banking.
Anthony Ndegwa is the CEO of NCBA Bank