Over the past four years, since the merger of two Financial Institutions in 2019, NCBA Bank Uganda has firmly established itself as one of the fastest-growing and most profitable financial…
Uganda’s banking industry closed 2024 on a notably stronger footing, driven by robust asset expansion, a resurgence in profitability, and intensified market competition. For the first time in over a decade, all 22 commercial banks—excluding the newly licensed Salaam Bank—reported a net profit, signaling a broad-based recovery and improved operational resilience. The lone outlier, Salaam Bank, was only licensed in September 2023 and is still in its foundational phase. This performance came despite a trimmed industry roster following three bank downgrades, which reduced the number of fully licensed commercial banks to 23. The remaining institutions capitalised on steady economic recovery,…
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