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Annual Report 2014 Annual Report 2014 Annual Report 2014 Annual Report 2014 ..Think Possibilities 01 ..Think Possibilities TRADE FINANCE. We offer financing options that are tailor-made for your business. ..Think Possibilities Orient Bank Limited Annual Report, 2014 Orient Bank Limited TABLE OF CONTENTS REVIEW Our profile 5 Corporate Social Responsibility 6 Our Delivery Channels and Products 8 Corporate Information 9 GOVERNANCE Chairman’s Statement 11 Managing Director/ CEO’s Statement 15 Board of Directors’ Profiles 18 Executive Committee 22 Directors’ Report 24 Statement of Directors’ Responsibilities 26 Report of the Independent Auditors 27 FINANCIAL STATEMENTS Consolidated Statement of Comprehensive Income 30 Bank Statement of Comprehensive Income 31 Consolidated Statement of Financial Position 32 Bank Statement of Financial Position 33 Consolidated Statement of Changes in Equity 34 Bank Statement of Changes in Equity 35 Consolidated Statement of Cash flows 36 Bank Statement of Cash flows 37 Notes to the Financial Statements 38 04 Annual Report 2014 OUR PROFILE WHO WE ARE Orient Bank Limited is a leading private sector commercial Bank in Uganda. We have been in operation since 1993 and our performance since has been commendable. This steady growth can be attributed to the professional management and prudent lending and investment policies of the bank. VISION To be the pace setter and preferred financial partner for our stakeholders MISSION To deliver service that provides superior value to our customers CORE VALUES We summarise our core values as SPIRIT Service Customers will always want to talk to us and they believe we can solve their problems. This is why at Orient Bank, we care more than others think. We take risk for the sake of service and we dream more than others think practical. We expect more than others think possible. Passion Enthusiasm at Orient Bank is the most powerful engine of our success. When we do something, we do it with all our might. We put our soul into our work and stamp it with our own personality in order to accomplish our customers’ objectives. We believe that nothing great was ever achieved without enthusiasm. Innovation At Orient Bank, our discovery focuses on seeing what everybody has not seen and thinking what nobody has thought.” As Team members of Orient Bank, we make discovery and excite customers with our product offerings which we continuously develop to make your banking enjoyable and pleasurable. Resilience Orient bank’s resilience is rooted in a tenacity of spirit; a determination to embrace all that makes life worth living even in the face of overwhelming odds. When we have a clear sense of identity and purpose, we are more resilient, because we can hold fast to our vision of a better future. Integrity The supreme quality for leadership is unquestionably integrity. Without it, no real success is possible, whether it is on a section gang, a football field, in an army, or in an office and most especially in Banking. At Orient Bank we lead with integrity. Teamwork Our enduring success lies in collaborating and supporting each with the best teams to deliver value for our customers and stakeholders. At Orient Bank, coming together with our customers is a beginning, keeping together is progress and working together is success. 05 ..Think Possibilities Orient Bank Limited COMMUNITY INVOLVEMENT AND EVENTS COMMUNITY INVOLVEMENT The Orient Open Antenatal Day Orient Bank Limited in partnership with Vision Group and KCCA organized an Antenatal Open Day at Kawala KCCA Health center III. The bank gave out a total of 830 Mama Kits and over 1000 mothers received free Antenatal education and testing kits and medical personnel. The bank aslo donated water dispensers, boilers and medicines to the Health Centre in a bid to improve service delivery. The MD/CEO of Orient Bank-Julius Kakeeto hands over the supplies to the KCCA Director Health services Dr. Daniel Okello. Looking on from the left are members of Orient Bank's Senior Management team and New Vision's Head of Marketing - Susan Nsibirwa (third from the left). EVENTS The MD/CEO of Orient Bank-Julius Kakeeto officiates at the launch of the Visa The Head of Treasury- Peace Adia , takes coffee dealers through the bank’s Debit Chip and Pin card. He is flanked by the ED Orient Bank - Bernard Magulu product offering. Orient bank held a coffee dealers’ breakfast as an initiative and Head of Finance, Amargeet Singh. to further understand the customers’ needs and address them accordingly. The Governor Bank of Uganda, Chief Guest at the unveilling of the The Orient giants won the gold medal during the 2014 banker’s gala awards. Acacia mall branch, Prof Tumusiime Mutebile cuts tape to officially open the The volley ball also won a bronze medal for their outstanding performance branch, flanked by the Chairman of the Board, Michael Cook. 06 Annual Report 2014 SAPPHIRE BANKING. Not just banking, it’s a personalised experience. 07 ..Think Possibilities Orient Bank Limited OUR DELIVERY OUR PRODUCT CHANNELS PORTFOLIO INTERNET BANKING: We offer a host of Retail, Corporate and Commercial This is a service that has been designed to enable banking products that meet the financial needs of our our customers transact via the Internet. With this customers; service, customers are able to check their account details, view and download account statements, CURRENT ACCOUNTS and make internal transfers, among others. Standard Current Account (Personal & Business) SME Daily Current Account Foreign currency current account (Personal & Business) Kyakala (Single Tariff) Account (Personal & Business) AUTOMATED TELLER MACHINES (ATMS): Premium Account We currently have 23 VISA enabled ATM machines Sapphire account strategically located in different towns. Customers can withdraw money and deposit cash/cheques at the ATM. SAVINGS ACCOUNTS Classic Saving Accounts Dollar Savings Account (DOSA) Phuture Children’s Account CHAMA Investment Club Account POINT OF SALE (POS) MACHINES: Savings Account Plus Orient Bank gives one easy access to their money Diaspora Account through our Point of Sale (POS) machines which Smart Plan - Target Savings Account enable the bank’s customers to pay for goods and services using their Orient Bank VISA CHIP and PIN debit Cards. These POS terminals are very RETAIL CREDIT strategically positioned at many merchants places Orient Salary Xpress Loans of business and they accept VISA. SME Loans TRADE FINANCE MOBILE BANKING: Letters of Credit Orient Bank gives you a finger-tip convenient way Guarantees/ Bid bonds of banking. One does not have to visit the Bank or ATM as they can now use their mobile phone to:• CORPORATE CREDIT Check account balances top up Airtime on mobile Commercial Loans phone among others Overdrafts Guarantees/ Perfomance/Bid bonds ORIENT VISA CHIP AND PIN: INTERNATIONAL CURRENCY SERVICES Our Visa card offers immense opportunities and Foreign Currency Accounts access to a world of possibilities. Our Visa card is Telegraphic Transfer inbuilt with a chip and pin facility which allows for Forex online transactions while enhancing the security features of the card. It can be used used wildwide OTHER SERVICES at any VISA outlet We have considerable experience in the provision of customer payments and cash management services for OUR BRANCH NETWORK: big organizations both local and foreign which includes; Orient Bank boasts of 21 branches spread across Salary Processing the three main regions of Uganda, including Internal transfers Central, Eastern and Nothern region. Customers Safe custody can therefore access the Bank’s products and Collections - Bill Payments (URA taxes, UMEME, NWSC services from any Orien Bank Branch. bills, KCCA charges, NSSF ) 08 Annual Report 2014 CORPORATE INFORMATION DIRECTORS Mr. Michael Cook - Chairman Mr. Ketan Morjaria - Vice Chairman Mr.Jay Karia - Director Mr. Francis M. Byaruhanga - Director Mr. Joram Kahenano - Director Mr. Hemen Shashikant Shah - Director (Appointed 26 March 2015) Mr. Dugald Komla Agble - Director (Appointed 26 March 2015) Mr. Phillip Ikeazor - Director (Resigned 20 February 2015) Mr. Okwudili Chigbogwu - Director (Resigned 20 February 2015) Mr. Bernard Magulu R. - Executive Director (Appointed 21 January 2014) Mr. Julius Kakeeto - Managing Director (Appointed 26 February 2014) COMPANY SECRETARY Nicholas Ecimu C/O Sebalu & Lule Advocates Certified Public Secretaries (Uganda) P. O. Box 2255, Kampala COMPANY LAWYERS Shonubi Musoke & Company Advocates SM Chambers Plot 14, Hannington Road P.O. Box 3213, Kampala AUDITOR PricewaterhouseCoopers Certified Public Accountants 10th Floor, Communications House 1 Colville Street, P O Box 882 Kampala REGISTERED OFFICE Orient Plaza Plot 6 & 6A, Kampala Road P O Box 3072 Kampala OUR BRANCHES Head Office Entebbe Airport Branch Katwe Branch Kisekka Branch Orient Plaza Airport Terminal Building Muganzirwazza Plaza Lohana Arcade, Nakivubo Rd Plot 6/6A Kampala Road Tel: +256 414 320193 +256 414 256227 +256 414 255376 P.O. Box 3072, Kampala, Uganda Garden City Branch Kawempe Branch Kololo Branch Tel: +256 414 236012/3/4/5 Garden City Mall 78 Bombo Rd, Kawempe Tel: Plot 16/17 Wampewo Av. Fax: +256 414 348039 Tel +256 414 343017 +256 414 568847 Nyonyi Gardens Tel: +256 414 250 839 Acacia Branch Gulu Branch Kikuubo Branch Acacia Mall - Kisementi Plot 15, Awere road, Grand Corner House Nkrumah Branch +256 414 255376 Tel:+256 471 432075 Tel : +256 414 257451 Plot 5 Nasser Road Arua Branch Jinja Main Branch Main Branch Tel: +256 414 234554 Plot 12 Avenue Road, Arua Town Plot 1 Busoga Square Plot 6/6A Kampala Road Ntinda Service Center Tel: +256 476 420123 Tel: +256 434 122030 Tel: +256 414 236012/3/4/5 Capital Shoppers’ Mall Bweyale Branch Jinja Town Branch Mbale Branch Tel: +256 414 289533 Plot 3c Gulu/ kampala Highway Plot 8 Scindia Road, Plot 23, Naboa Rd William Street Branch Tel +256 393 614161 Tel: +256 393 280310 Tel: +256 454 432253 Plot 44, William Street Entebbe Town Branch Kabalagala Branch Makerere Branch Tel: +256 414 344950 Plot 29, Kampala Road Kabalagala 09 Ham Towers Makerere Hill Rd : +256 393 202639..Think Possibilities Tel: +256 414 320960 Tel:+256 414 510 726 +256 414 532143 Orient Bank Limited Mr.
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