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Orient Bank Orient Bank Ltd has expanded its operations in the eastern part of Uganda by opening a branch in Mbale town. Speaking at the colorful cocktail held at Mbale Resort Hotel, the LCV Mbale Mr.Mujaasi Bernard expressed his appreciation of this new development in the area,
“We are very happy that Orient Bank has brought its services to Mbale. I strongly feel that this new branch will not only bring financial services closer to the people of Mbale but also the much needed affordable and innovative banking solutions”
The Bank’s acting CEO Shamsher Khemani noted that the bank’s commitment has always been about caring for the financial needs of all people in Uganda to enable them improve their lives. “Our aim has always been to bring our flexible services closer to our customers and am glad that today our customers in Mbale can start enjoying the various financial benefits to enable them improve their livelihoods”, he said. The bank which recently launched the Visa payment system is committed to expanding its services across the country. The Banks customers in Mbale will also be able to access the Bank’s services without necessarily going to the banking halls because of the Banks multi delivery channels such as Mobile phone through sms Banking, Internet or even Point of Sales.
The Ag CEO also revealed that the Bank has plans to expand operations to Arua and Lira this year as well as roll out over 100 VISA point of Sale machines across the country. This will enable the bank’s customer’s access their accounts both locally and internationally hence making a huge step towards a cashless society.
He urged the people of Mbale to embrace the Branch and open up accounts with the Bank so they can enjoy the numerous financial benefits that come to Orient Bank customers. 13th February, 2008.

Loans for SAFARICOM shares at Orient Bank

Orient Bank Ltd has launched a soft loan to purchase Safaricom share. This will enable salaried employees and corporate companies to participate in the IPO of Safaricom. Announcing the development in a statement to the press, the Bank’s acting CEO Shamsher Khemani noted that this move is in line with the Bank’s vision of contributing to the economic prosperity of the peoples of East Africa. Although this facility is available to both salaried and corporate companies, the beneficiaries have to meet the usual loan requirements. The loan will be used to the purchase Safaricom shares under the initial public offering. He added that the Bank will meet 75% of the value while the customer meets the rest. This is an opportunity for the public to get affordable financing at only at only 19% interest rate per annum.The facility is payable in a flexible period up to a year. This loan offer also provides the customer with the convenience of purchasing the shares through Equity Stock brokers who are appointed subagents of Dyer and Blair Uganda one of the brokers of this IPO in the country. Equity stock brokers are a subsidiary company of Orient Bank Ltd. This is the second time Orient Bank is offering such a facility after issuing out similar loans for the purchase of the successful Stanbic IPO shares. The Safaricom IPO offer closes on the 23rd April 2008. 7th April, 2008.

Orient Bank posts 8bn Shs in profits

Orient Bank Ltd presents its result for the financial year 2007 which shows a profit before tax of UGX 8 bn, reflecting a 24% increase over the previous year. Total assets grew by 31% and customer deposits by 37%. The Bank is proud to state that these results continue the steady year on year growth that has been its hallmark since inception in 1993. When announcing the results in a statement to the press, the Acting CEO, Mr Shamsher Khemani, noted that the Bank’s expansion programme embarked on last year as well as the several new products launched had proved successful.

The new products have been designed to meet specific customer needs and include the high interest bearing Dollar Savings Account and the Premium Cheque Book Account. In order to simplify and speed up banking transactions the Bank introduced SMS and Internet banking and to facilitate money transfers Coinstar was launched. The Bank also widened its network by joining Visa and distributing more than 100 POS machines across the country. In order to continuously improve its customer service, the Bank plans to expand the POS/Visa coverage and increase its branch network significantly in 2008. At present the network consists of 8 branches located in Kampala, Entebbe Town and Airport, Jinja and Mbale. In addition the Bank services its customers through 7 owned ATMs and by being part of the Bankom ATM network. 29th February, 2008