THE Uganda Commercial Bank (UCB) towers, now owned by Stanbic Bank, will be sold on June 14, the Bankâ€™s managing director, Kitili Mbathi
THE Uganda Commercial Bank (UCB) towers, now owned by Stanbic Bank, will be sold on June 14, the Bankâ€™s managing director, Kitili Mbathi, has said.
â€œThe building is on sale right now. We have asked people to submit their bids by June 14 and we will sell to the highest bidder,â€ said Mbathi.
He said the bank would shift its office to the newly-refurbished Cres-ted Towers (short tower) by the end of this month.
He said the Crested Towers office will consolidate both offices formerly at the headquarters and UCB tower.
Mbathi said the main banking hall (City branch) and the Automated Teller Machine (ATM) point at the UCB towers would remain there while another branch would be opened at Crested Towers.
â€œOur core business is banking not real estate. This is a 16-storey building; our requirement is only five floors. So we would rather sell it to a real estate developer and we would become tenants,â€ he said recently.
UCB towers for sale on June 14