Housing Finance Bank profits reach a record UGX58.5 bn; becomes Uganda’s 5th most profitable bank Under the leadership of David Opiokello as Chairman and Michael Mugabi as Managing Director/CEO, Housing Finance Bank, the government and NSSF-owned bank has grown to new record highs. The bank is now the 5th most profitable bank in Uganda as well as one of only 10 banks (out of 25 banks) with a customer deposits base of UGX1 trillion.

Housing Finance Bank, the government of Uganda and NSSF-owned lender is now Uganda’s 5th most profitable bank, jumping three positions from the 8th in 2021.  In 2022 results released last week, the bank reported that net profit grew by a record  42.7% growth from UGX41 billion to UGX58.5 billion. The bank increased its share of industry profits from 3.2% to 4.5%. In total 23 of 25 banks reported profits in 2022- a combined UGX1.29 trillion, up from 1.08 trillion in 2021. The top 4 profitable banks are Stanbic (UGX366 billion), Centenary Bank 9UGX249.6 billion), Absa Bank Uganda (UGX141.2 billion) and…

by The CEO Magazine Team

• Share
• Tweet
• Pin it
• Share
• Email
• More