NCBA Bank Uganda has reported a 15.7% rise in total income to UGX157.6 billion for the year ended December 2025, although higher operating costs weighed on the lender’s bottom line.
Profit after tax fell slightly from UGX 38.9 billion in the previous year to UGX 37.6 billion last year, as expenses climbed sharply from UGX 90.6 billion to UGX 110.8 billion during the same period under review.
The bank, however, recorded stronger performance in other key areas, pointing to continued expansion following its post-merger integration.
Profit before tax rose to UGX 46.8 billion, far above internal expectations, while total assets increased by 25% to UGX 1.2 trillion.
The figures mark an important stage in NCBA’s 2020–2025 strategic cycle, a period that has focused on expanding retail banking, strengthening corporate and asset finance, widening distribution channels, and accelerating digital transformation.
NCBA Bank CEO Mark Muyobo said customer deposits increased to UGX 804 billion, slightly above target, signalling growing confidence in the bank.
“Achieving a profit before tax of UGX 46.8 billion, well above our target, is a clear indication that our business model is resilient and responsive to market opportunities,” he said.
However, lending growth lagged behind expectations. Gross loans and advances stood at UGX 331 billion, below target levels, reflecting a cautious credit environment.
“The growth in customer deposits to UGX 804 billion is a strong signal of the trust our customers continue to place in us,” Muyobo said. “While we saw strong performance across key areas, we recognise that lending growth did not meet our aspirations, and this is an area we are deliberately focusing on going forward.”
Over the five-year strategic period, the bank had set targets, including UGX 11 billion in profit before tax, UGX 783 billion in customer deposits, UGX 587 billion in loans and advances, and UGX 1.1 trillion in total assets.
The latest results show the lender has exceeded its profit and asset targets, while also outperforming on deposit mobilisation.
NCBA attributed part of its performance to investments in technology, governance, and operational efficiency. During the year, it was named Best Bank in Asset Finance at the 2025 Annual Bankers’ Awards, a recognition it says underlines its growing role in business financing.
The bank also received certification from the British Standards Institution for ISO/IEC 27001 information security management and ISO/IEC 27701 privacy management systems, as it seeks to strengthen data protection and customer trust amid rising digital adoption.
The results come at a time when Uganda’s banking sector is under pressure to balance profitability with innovation, digital expansion, and wider financial inclusion.
NCBA has already launched its 2026–2030 strategy, which will focus on expanding digital services, strengthening distribution networks, and supporting broader economic growth ambitions.
“In 2026, our outlook will centre on improving customer experience, deepening distribution channels, growing digital business, and investing in people development,” Muyobo said.
“We are also rolling out new digital platforms; NCBA Now for retail customers and Connect Plus for corporate clients, to support seamless transactions and greater convenience.”
