Housing Finance Bank received recognition as the first runner up in the Uganda Revenue Authority (URA) Awards under the Excel category.
The bank was applauded for being key in the Banking and Mortgage finance industry having stood the test of time over the years, evolving into a fully-fledged commercial bank. The award was a significant milestone demonstrating the outstanding work being done at the bank.
The award, according to URA recognized Housing Finance Bank for their good corporate citizenship and compliance to government regulations, most especially tax remittances. The Excel award also recognized Housing Finance Bank in the large tax payer bracket.
“Over time, Housing Finance Bank has acquired a great clientele owing to the trust bestowed upon it. Through our continuous advisory and compliance engagements, Housing Finance Bank has proven to be loyal, dedicated, passionate and committed to filing accurate returns and paying its taxes on time. This has been proved over time through reviews of the bank’s annual returns,” remarked Robert L. Wamala, supervisor Tax Education, URA.
URA is not only proud of the excellent and pleasant working relationship that is shared with Housing Finance Bank, but also the fact that the bank has stood the test of time over the evolving Banking industry with vast competition over the globe.
With visible excitement, the Managing Director of Housing Finance Bank, Mr. Michael Mugabi received the coveted award from the Minister of Finance and Economic Planning, Hon. Matia Kasaija. “This award is a true reflection of the hard and disciplined work our people continue to put in every day, and a testament to our growing contribution to the development of our country” he said.
Commenting on the recognition, Patrick Harry Oyuru, Head of Marketing and Communications at Housing Finance Bank reiterated the bank’s commitment to contributing to the development and growth of the country through providing affordable and accessible housing to all Ugandans, and remaining a compliant tax payer.
“Over 50 years now, Housing Finance Bank has continued to provide viable solutions that enable homeownership for all Ugandans and together. We are happy that this is being recognized by other parties. We shall continue to leverage on all available opportunities to make home ownership a reality and to play our part in developing the country through tax compliance among other aspects,” he commented.
“This award reaffirms that we are living true to our commitment. I extend my appreciation to all staff and management for making this possible,” he added.
Housing Finance Bank was first incorporated in 1967 as Housing Finance Company Uganda Limited carrying out business as a non-banking credit institution providing mortgage finance and also accepting savings deposits from the public.
The bank became licensed and regulated by the Bank of Uganda as a commercial Bank in 2007 to carry on the business of banking under the Financial Institutions Act and changed into a public limited liability company known as Housing Finance Bank Limited