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One on One with Mr Ketan Morjaria, Vice Chairman Orient Bank Ltd

There has been increased competition in the Banking Sector – How has Orient Bank responded the competition?

We have continued to do what we have always done by providing a better and faster service to our customers. We have continued our aggressive branch expansion by opening up new branches in strategic locations throughout the country. We recently opened Kololo branch to enable our customers to enjoy “traffic free” banking outside the congested centre of Kampala. A second branch in the heart of Jinja town has also been opened and I believe this is a first for any bank to have more than one branch in an upcountry town.
We have also continued to expand our innovative product portfolio which has positioned us strategically in our niche markets by providing Banking solutions that exceed our customer expectations. The most recent example of this is the introduction of the highly regarded KIU Tuition loan. Refurbishment for all our branches is currently on going to improve on our image, look and feel as well customer ambience.

Has the increased competition affected the Bank’s Performance?

Yes it has though our Profits are up by over 20% for the year to date compared to the same period last year. Our Customer numbers have also grown from 29,000 to over 45,000 now and the Bank’s liquidity position is very strong and we are focussed on looking for more lending opportunities. On this note let me add that we are also developing Agricultural products which we believe is the backbone of growth for the economy.

Can you comment on the issues affecting the Bank’s majority shareholder?

Orient Bank is a stand alone subsidiary not impacted by events elsewhere other than in this market. We have a strong and loyal customer base and we are regulated by Bank of Uganda (BOU) who are in control of the Banking industry in Uganda. The issues affecting our major shareholder affected the industry as a whole and are being addressed by the Central Bank of Nigeria. The CBN has publicly committed to ensuring the stability of the Nigerian Banking sector and there is no reason to expect it to adversely affect Orient Bank which has been successfully operating in Uganda for 15 years.

What are the future plans for Orient Bank Limited?

Our Future plans are very aggressive. We shall continue with our Retail Branch expansion and intend to open 3 more branches this year and early next year. These include Kabalagala, Garden City and Arua as well as other locations which are currently being assessed. We will soon be introducing Visa Credit Card and upgrading our internet and SMS Banking product to “real time” operations. We also intend to introduce more features on our sms banking service such as money transfer and bill payment facilities.
The Bank is looking forward to expanding its presence in the region i.e. Kenya, Tanzania the DRC and Southern Sudan. This has always been an important part of Orient Bank’s vision and plans are already well advanced to achieve this aim.

Do you still have an active role to play in OBL?

I am still a very active member of the Board of Directors as Vice Chairman and I will continue playing an important role on the various Board Committees. I see our customers as part of my family and as such my door is always open. I envisage a very exciting future for the Bank which I fully intend to be part of.

What is your opinion on the future for Uganda?

The future for the Ugandan economy is very bright especially with the discovery of oil and the revival of the East African Community. The increased competition in the Banking sector to over 21 Banks means not only increased bank choice but also better products and services for the Ugandan people. All in all, I am very optimistic about this economy and look forward to continuing contributing to its growth.
12th October, 2009.

Orient Bank announces merger with Bank PHB

Good times lie ahead for customers and other stakeholders of Orient Bank of Uganda as the bank announced yesterday its merger with one of Nigeria’s leading banks, Bank PHB, which has a paid-up capital of US$2 billion. This decision is a strategic move by Orient Bank to deepen its market share and ability to meet the increasing needs of its growing number of customers. The merger, which was sealed at a Completion Board meeting of the two banks held at the corporate headquarters of Orient Bank in Kampala, saw Bank PHB acquiring a majority stake in Orient Bank.
Speaking at the ceremony, the Group Managing Director of Bank PHB, Mr. Francis Atuche, said the move reflects Bank PHB’s strategic intent to emerge as Africa’s integrated Bank. According to Mr. Atuche, Uganda is the first port of call in Bank PHB’s expansion into East Africa having already established presence in the West African countries of Liberia, Sierra Leone and Gambia. Mr. Atuche announced that the choice of Orient Bank was informed by its huge potential to deliver superior value to customers.
According to Mr. Atuche, “We are architects of value. We pursue commercial excellence in ways that create superior value for our customers through a wide range of products and services. This is the strategic advantage that Orient Bank stands to benefit from this marriage with Bank PHB.” He disclosed that Bank PHB, which has won several awards as Nigeria’s most innovative Bank, was set to bring its experience and dynamism to bear in the Ugandan market. He said the Ugandan people and customers of Orient Bank would ultimately be the better for it.
Also speaking at the occasion, the Chairman of Orient Bank, Mr. Michael Cook said the consummation of Bank PHB’s investment in Orient Bank marks a watershed in the life of the Bank.  He said he was particularly optimistic about giving Ugandans more value-added retail products tailored to meet their increasing needs. He said Bank PHB’s decision to start with Uganda in its foray into East Africa was a vote of confidence in the Ugandan economy and its inherent potentials. Mr. Cook also announced that this deal would translate into more employment opportunities for the people of Uganda.
The high point of the completion Board meeting was the ratification of the appointment of Mr. Maxwell Ibeanusi as the new Managing Director of Orient Bank of Uganda. Prior to his appointment, Mr. Ibeanusi had garnered over a decade of banking experience in various leading Nigerian banks. The new Managing Director said Bank PHB’s pedigree in retail banking, product innovation and aggressive marketing strategies will certainly bring banking closer to ordinary Ugandans. Mr. Ibeanusi promised that the bank will soon unveil a number of retail consumer products aimed at helping Ugandans live the good life of their dreams.

Orient Bank opens in Gulu

Orient Bank Orient Bank Ltd has opened in Gulu. In addition to the recently opened Mbale branch, the new branch reaffirms the bank's commitment that is to care for the financial needs of all people in Uganda to enable them improve their lives. The bank's aim has always been to bring our flexible services closer to our customers and with the opening of operations in Gulu our customers in and around Gulu can start enjoying the various financial benefits. The bank which boosts with a successfully Visa payment system is committed to expanding its services across the country. The Banks customers in Gulu 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 SMS Banking, Internet banking or even the ATM machine.
The Ag CEO also reveals that the Bank has plans to expand operations to Arua and Lira as well as rolling out more VISA Point of Sale machines across the country. This will enable the bank's customers access their accounts both locally and internationally hence making a huge step towards a cashless society.

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