Bank of Uganda (BOU) has approved Finance Trust Bank’s request to downgrade its operations from a commercial bank to a credit institution.
The move makes Finance Trust Bank the fourth commercial bank to scale down its license since the central bank raised the minimum capital requirement in 2022.
Bank of Uganda hereby informs the general public that Finance Trust Bank Limited has been authorised to transition from a Tier | Commercial Bank License to a Tier II Credit Institution License effective 01 April 2026.
Finance Trust Bank has been granted a transition period of three (3) months from 01 January 2026 to 31 March 2026, during which it will make adequate arrangements to phase out products and processes that require a Tier I Commercial Bank License.
This is intended to ensure a smooth service transition for its customers and to mitigate any disruption to financial sector stability.
The change of status to a credit institution follows a decision by Finance Trust Bank’s Board of Directors, to adopt a strategic shift and reposition the institution to serve its core customer base better. Finance Trust Bank is adequately capitalized and meets the minimum capital requirements for a Tier II License.
