MyBucks Banking Corporation Limited is changing it’s name to Centenary Bank Limited.
This follows the final approval by the Registrar of Financial Institutions for the 100 percent acquisition of the bank by the Centenary Rural Development Group Limited of Uganda and the Catholic Archdiocese of Lilongwe.
A statement signed by MyBucks board chairman Dr. Francis Pelekamoyo, Centenary Group chairman Prof. John Ddumba-Ssentamu and the Most Rev. George Desmond Tambala of the Archdiocese of Lilongwe states that the new shareholders have also fully recapitalized the bank as required by the Registrar of Financial Institutions.
Reads part of the statement:” The Registrar of Financial Institutions has granted final approval for the acquisition, change of name and has issued the bank with a new banking licence bearing the newly approved name.”
It further says a public notice for change of name as required by the Companies Act will be published in due course adding that the acquisition process will be completed as soon as the bank receives approval from the competition regulation authorities who are now at an advanced stage in assessing the acquisition.
“The final approval by the Registrar of Financial Institutions and the issuance of a new banking licence is a significant milestone in the history of the bank. Following the fresh capital injection, the bank is now well positioned to serve its customers better as well as expand its footprint and product offering,” it reads.