Union Trust Bank

Union Trust Bank (UTB), whose full name is Union Trust Bank Limited, is a commercial bank in Sierra Leone. It is licensed as a "commercial bank" by the Bank of Sierra Leone, the central bank and national banking regulator.^[2]

Union Trust Bank

Company type	Private
Founded	1995
Headquarters	2 Howe Street Freetown, Sierra Leone
Key people	Ajaratu M. Mahdi Chairperson James Sanpha Koroma Chief Executive Officer
Products	Savings, Checking, Investments
Revenue	Aftertax: SLL: 1.466 billion (US$197,000) (2015)[1]
Total assets	SLL:361.82 billion (US$48.6 million) (2015)[1]
Number of employees	280 (2015)[1]
Website	Homepage

Overview

The bank, according to its website, is the only privately owned indigenous commercial bank in the country, as of May 2017.^[3] As of December 2015^[update], the bank's total assets were valued at SLL:361.817 billion (approximately US$48.6 million), with shareholders' equity of SLL: 58.162 billion (approximately US$7.811 million).^[1]

History

UTB was founded in 1995 by Sierra Leonean individuals and corporations and was registered as a limited liability company. It began offering banking services following the issuance of a commercial banking license by the Bank of Sierra Leone.^[3] On 17 March 2017, the bank celebrated the opening of its headquarters building, on Howe Street, in Freetown, performed by Ernest Bai Koroma the president of Sierra Leone.^[4]

Branch Network

As of May 2017^[update], UTB maintains branches at the following locations:^[5]

(1) Main Branch - Lightfoot-Boston Street, Freetown (2) Njala University Branch - Njala University, Mokonde Campus, Moyamba District^[6] (3) Kenema Branch - 19 Hangha Road, Kenema, Eastern Province (4) Bo Branch - 7 Bojon Street, Bo, Southern Province (5) Kono Branch - 5 Old Yengema Road, Koidu, Kono District^[7] (6) Kambia Branch - Sierra Leone-Guinea Highway, Kambia (7) Lumley Branch - Lumley Road, Freetown (8) Kissy Branch - 49 Baibureh Road, Kissy, Freetown (9) Magburaka Branch - Kono Makeni Highway, Magburaka (10) Liverpool Street Branch - Liverpool Street, Freetown (11) Brookfields Branch - Main Motor Road, Freetown (12) New England Ville Branch - Jomo Kenyatta Road, Freetown^[8] (13) Lunsar Branch - Lunsar^[9] (14) Yoni Branch - Mile 91, Freetown Bo Highway

See also

• List of banks in Sierra Leone
• List of banks in Africa
• Economy of Sierra Leone
• Bank of Sierra Leone