Housing Finance Bank has appointed Michael Karokora Mugabi as the Acting Managing Director, replacing Mathias Katamba who this week threw in the towel after four years at the helm of the bank.
Katamba on Wednesday handed in his resignation to the Housing Finance Board.
The board immediately replaced him with Michael Mugabi who has been serving as the bank’s Chief Executive Officer.
Katamba took charge of Housing Finance Bank in March 2014 and during his tenure, he was praised for his policies that improved and turned around the bank’s financial performance and culture.
The bank’s board of directors in a statement yesterday praised Katamba’s contribution and wished him well.
Housing Finance Bank which was licenced 10 years ago by the Central Bank is primarily involved in Mortgage Banking.
It is owned mostly by NSSF (50%) and Government of Uganda through Ministry of Finance (49%).