Kabeera Andrew

Two years, after being granted a tier one commercial banking license in December 2021, assets of the government-owned PostBank Uganda (PBU) in 2023 crossed the UGX1 trillion mark, reaching a record UGX1.071 trillion. Results released this week, show that total assets grew by 14% from UGX943 billion to reach UGX1.071 trillion, a growth of UGX128 billion. This, according to Julius Kakeeto, the bank’s Managing Director / CEO, was on the back of double-digit growth and “above-industry-average growth rates” in deposits, lending and subsequently income and net profits. Lending grew by 26% from UGX480 billion in 2022 to UGX603 billion, a…