It was the first of its kind. The Annual Bankers’ Awards (ABA) in Uganda was launched in 2025 by the Uganda Institute of Banking and Financial Services and Uganda Bankers’ Association (UBA).
The awards were intended to celebrate excellence, innovation, and leadership in Uganda’s banking sector and were held under the theme “Beyond the Finish Line”.
One of the winners for the day was Eva Nassaazi, the Head of Strategy at I&M Bank Uganda. She was named the Banker of the Year Award.
One of her major wins at the bank was serving as a key cog in implementing the bank’s iMara 2.0 Strategy (2021–2023), which returned the bank to profitability.
Giving context, Nassazi says during the iMara 2.0 phase (2021–2023), the bank was navigating a critical transition from Orient Bank to I&M Bank.
They had built a business anchored on customer loyalty with trust as a founding pillar, and the goal was to leverage these principles as cornerstones for growth.
Using tech to improve services
However, one major challenge remained. The bank’s profitability was under pressure.
“The operating model and distribution network were not delivering sustainable returns, and we had to make difficult choices,” she says. “After a thorough strategic review that assessed branch profitability, customer traffic, balance sheet size and growth potential, we chose to close a few branches.”
While this decision temporarily inconvenienced some customers, it significantly reduced branch-related costs. It was instrumental in restoring profitability by the end of 2022.
The team then returned to the drawing board and redefined the strategy under iMara 3.0 (2024–2026). This phase involved heavy investment in digital transformation and the launch of state-of-the-art online and mobile banking platforms.
The bank also expanded its footprint through a 2,000-strong agent banking network. Accessibility was enhanced with 650 ATMs on the Interswitch network. Cash deposit machines were installed in both central and upcountry locations, among other investments.
“We increased branch capacity, improved service delivery and built a more resilient network,” she says. “These initiatives optimised our operating model and strengthened the customer experience.”
The results were striking. The bank’s Net Promoter Score rose from 32+ in 2021 to 81+ in 2025. This reflects significant gains in customer satisfaction and loyalty.
Before the I&M Group acquisition and rebrand, during the Orient Bank era, the franchise was stagnant and loss-making. Total assets had declined to UGX 720.6 billion. The bank recorded a UGX 22.7 billion loss in 2020, with a thin loan book and deposits of about UGX 573.7 billion.
Following the Group takeover in 2021, the bank underwent a deliberate cultural reset through the PAMOJA programme. This was supported by systems upgrades and a marketing-led growth agenda. Strong executive alignment also played a role, under the leadership of Robin Bairstow, who joined in October 2023.
Phenomenal results
By the end of 2023, the bank had recovered. Total assets stood at approximately UGX 944.5 billion. The loan book reached UGX 301.0 billion, while net profit was UGX 11.5 billion.
In 2024, the bank crossed the trillion-shilling mark. Total assets reached approximately UGX 1.1 trillion. The loan book expanded by 35.2 percent to UGX 406.9 billion.
Deposits rose by 10.1 percent to UGX 757.4 billion. Net profit nearly doubled to UGX 20.3 billion, a 76 percent year-on-year increase.
One iMara 3.0 initiative that excites Nassazi most is the launch of the regional banking solution, I&M Bank Brisk. The platform allows customers to transact seamlessly across Kenya, Tanzania and Rwanda with the same ease experienced in Uganda.
“I&M Bank Brisk is backed by secure and trusted infrastructure,” she says. “There are no delays and no hassles. It is one account across multiple countries.”
Award significance
Nassazi says the award reflects the influence of the institutions she has worked with throughout her career.
“One institution upheld the value of stewardship — leaving things better than you found them,” she says. “This principle has shaped my work ethic and professional identity.”
She adds that she learned courage at I&M Bank, where innovation is actively championed. That courage pushed her into spaces she might otherwise have avoided.
“Courage made me take on responsibilities I once believed were meant for someone else,” she says. “Not out of humility, but fear that I might not be enough.”
Winning the Banker of the Year award is not the end of the journey. For Nassazi, it is a reminder to keep raising the bar.
“It is about staying curious, embracing innovation and investing in people and ideas that drive progress,” she says.
She adds that the recognition is both a celebration and a challenge. It pushes her to move beyond comfort zones, mentor the next generation and turn every success into a stepping stone for greater impact.
“The true measure of this award will be how I use it to inspire growth and transformation in the banking industry,” she says. “I am working on several industry-wide projects, which you will soon hear about.”
She also sees the award as a stepping stone to better serve her employer, I&M Bank.
Powering women in banking
Nassazi is President of the I&M Bank Gazelles, serving more than 150 women in banking. This position gives her a bird’s-eye view of issues that others may overlook or never know about.
She says women in banking face both challenges and opportunities. Barriers such as underrepresentation in leadership roles and pressure to balance work and family persist.
However, the industry is evolving rapidly. Banking, fintech and telecommunications are creating new spaces for women to lead innovation and shape the future of financial services.
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“My contribution has been twofold,” she says. “First, I actively mentor young women building careers in banking.”
Through mentorship, she offers guidance, shares experiences and helps them navigate the industry with confidence.
She also leads by example. This includes serving on bank committees, contributing to industry initiatives and sitting on boards.
“By being visible and engaged, I show that women can lead and serve at the same time,” she says. “Without fear of imperfection.”
Nassazi encourages people to unlock their potential by asking one simple question: Why not me?
“Once you ask that question with confidence, you already have one foot in the competition,” she says.
Legacy
Through her service and leadership, the head of strategy desires to leave a lasting legacy, which drives her purpose. Some of the principles she wants people to remember her for include:
Excellence: Nassazi wants to be remembered for consistently raising the bar, whether in service delivery, innovation, or leadership.
Excellence has always been her driving force towards setting high standards.
That is not only ensuring that customers, colleagues, and stakeholders can always trust the quality of what I do, but also how it reflects on the bank and the sector.
Stewardship. This was a cherished value at one of her former workplaces during her foundational banking years and is a guiding light.
“Leadership is not just about achieving results in the moment but leaving things better than I found them,” she says.
“I want to be seen as someone who strengthened institutions, nurtured talent, and created systems that will continue to thrive long after my direct involvement.
Impact: Beyond numbers and profitability, Nassazi wants her work to have a meaningful and positive effect on people’s lives.
Whether it’s through contributing to financial inclusion strategies, mentorship of young professionals (especially women) or building platforms that empower communities. Her goal is to ensure that banking contributes to real human progress.
Encouragement
Even when the tides seem to get tougher, Nassazi encourages women in banking, even in other industries, to rise to the challenge.
“Embrace leadership opportunities. Recognise that your voices and perspectives are vital to the growth of those industries and the economy as a whole,” she says.
That is because the next generation of women bankers must see that leadership and taking up new responsibilities are not about being flawless. It is about being courageous, committed, and willing to serve.
Nassazi dedicates this award to every colleague who has played a role in shaping her professional journey. But above all, to the women in service – in every form of service.
About Eva Nassazi
Eva Nassaziis a Fellow of the Association of Chartered Certified Accountants (ACCA). She is a seasoned strategy practitioner with 13 years of experience in financial planning, strategic management, and audit assurance across Uganda and beyond.
Her expertise spans corporate transformation, acquisitions, tier upgrades, and digital financial service rollouts.
Nassaazi previously held senior roles at PwC in Uganda and Rwanda and Manager roles at Absa Bank and BRAC Uganda Bank.
She has made contributions to the banking industry through her membership on various committees of the Uganda Bankers Association (UBA).
During her appointment to the UBA Technical Working Group on Government ATMS (Vision 2040 Priority Sectors), Nassaazi steered the development of strategic interventions. This was to catalyse private sector credit towards a tenfold growth in Uganda’s GDP by 2040.
Here, she made guest contributions to Uganda’s Financial Sector Development Strategy (2017–2022). She also featured in ACCA’s AB Magazine (May 2021).
Nassazi also sits on the UBA Sustainability Committee, directly contributing to the development of the industry’s first-ever Sustainable Finance Framework, to name a few.
Nassaazi holds an MBA with Distinction from Edinburgh Business School, a first-class Bachelor of Commerce (Accounting) from Makerere University Business School. She also has a Certificate in Business Strategy from the Wharton School of Pennsylvania, among other professional accreditations.
She has served as a member of the Board of Trustees for the best-performing Staff Provident Fund (I&M Bank) in Uganda for the past three consecutive years and is the President of the I&M Bank Gazelles.
For social impact, Nassaazi is co-founder and Board Chairperson (Emeritus) of Amani Initiative. It is a Ugandan-registered grassroots non-profit organisation founded in 2012 to prevent and respond to harmful practices and barriers against children and women through integrated community-led interventions.
Outside work, she enjoys listening to global economics podcasts, touring new places and fitness activities.
