UTB Equity and Capacity Growth Investment

Project Description

Union Trust Bank seeks strategic equity and capacity growth investment to strengthen its balance sheet, increase lending capacity, and meet regulatory capital requirements. The bank's paid capital is Le 32.5 million, which is short of the minimum regulatory capital of Le 85 million. Incorporated on April 26, 1995, UTB has been in operation for over 28 years, owned by indigenous individuals and corporate entities. The bank posted profits for many years before recent challenges from regulatory capital requirements and non-performing credits. Despite challenges, deposits grew 47% YoY to NLe 1.1Bn. The five-year strategic plan focuses on investing in viable business propositions and returning to sustained profitability. The Board of Directors includes Harish Agnani, Thelma V.O Thomas, Khadijatu Bassir, Dr. J. Sanpha Koroma, Ambassador Andrew Gbebay Bangali, Mr. David C. Bertin, Rajesh Hark-Ishin Balani, and Nabie Musa. Governance committees include Main Board, Board Audit and Risk, Executive Management, Credit Risk, and other business/project committees.