Citibank Uganda closed the 2024 financial year with a net profit after tax of UGX 71.9 billion, up from UGX 68.3 billion in 2023. This performance secured the bank’s position as the 6th most profitable bank in Uganda, underscoring Citi’s ability to consistently deliver bottom-line growth despite an increasingly competitive and evolving market. However, beneath this surface of profitability lies a story of gradual decline in core banking operations—a story that has unfolded over the past two years and could define the future of Citi Uganda as its CEO, Sarah Arapta, approaches a decade at the helm in January 2026….
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