The Bank of Uganda (BoU) has announced that Finance Trust Bank Limited has been authorised to transition from a Tier I Commercial Bank licence to a Tier II Credit Institution licence, effective April 1, 2026.
In a public notice issued on Thursday, the central bank said Finance Trust Bank has been granted a three-month transition period, running from January 1 to March 31, 2026, to make the necessary adjustments. During this period, the bank will phase out products and processes that require a Tier I Commercial Bank licence.
According to the Bank of Uganda, the transition period is intended to ensure a smooth service shift for customers while minimising any potential disruption to the stability of the financial sector.
The change in status follows a strategic decision by Finance Trust Bank’s Board of Directors to reposition the institution to better serve its core customer base. The central bank noted that Finance Trust Bank remains adequately capitalised and meets the minimum capital requirements for operation as a Tier II Credit Institution.
Bank of Uganda reassured the public of its continued commitment to maintaining financial system stability and safeguarding the interests of depositors and other stakeholders.
Members of the public seeking further information have been advised to contact the Director of Communications and Public Relations at the Bank of Uganda through official channels.
The notice was issued by Kenneth Egesa, Director of Communications, on behalf of the Bank of Uganda.