BY PAUL TENTENA
KAMPALA, UGANDA- The Eastern and Southern Africa Trade and Development Bank, commonly known as PTA Bank, has changed its official Brand name to Trade and Development Bank (TDB).
The Bank, which was established in 1985, serves 21 member countries with in the COMESA, EAC and SADC blocs. It is a multilateral treaty based financial institution with immunities and privileges, and currently holds a balance sheet of about $4.5billion.
It provides developmental capital and services in the region through customer focused and innovative financing. The bank provides opportunity for investors to gain exposure to fast growing economies through a profitable Development Finance Institution (DFI) with a sound balance sheet and strong prospects.
According to Mary Kamari, the TDB Director Corporate Affairs and Investor Relations, the rebranding follows several years of improved asset quality, healthy profitability and innovation, on the back of a series of institutional reforms aimed at strengthening and modernizing the bank.
“We have dramatically increased our capacity to meet the rising demand for the bank’s products and services, thanks to the strong funding partnerships we have built up with long term funders and investors.
“Our shareholder base has increased by more than 50% in recent years, with new institutional investors and member states. Indeed our equity capital has tripled since we embarked on the current corporate plan in 2012,” said Kamari.
She said their bank will continue to support independent power and transport projects, as well as agribusiness and industry alongside trade financing of essential commodities like fertilizers, equipment, agricultural commodities and petroleum.
Wycliff Bbossa Director Portfolio Management said trade finance is typically provided on a structured basis, with emphasis on self liquidation mechanisms. “Long term lending is done mostly on balance sheet, and at times on a project basis with tenure ranging up to three years for trade related financing and up to 15years for infrastructure projects,” said Bbossa.
Through the revitalization of its corporate branding, the bank will be trading under one trade name Trade and Development Bank (TDB) and a new logo while its legal name “Eastern and Southern African Trade and Development Bank” will remain unchanged.
Admassu Tadesse, the President and Chief Executive Officer of the Trade and Development Bank said the branding represents their rejuvenation and commitment to innovate and play a more active role in promoting trade, economic development and regional integration at a crucial time when the region is looking to more vigorously advance economic transformation and ratchet up the tapering growth.