FinanceThe Big Story

Absa Bank Uganda’s assets reach UGX3.4 trillion; moves from fifth to third-largest bank

by Muhereza Kyamutetera
L-R: Steven Opio, Executive Director – Corporate and Investment Banking, Nazim Mahmood, Former Managing Director, Nadine Byarugaba, Acting Board Chair, Marie Jamieson, Absa Group Head of Marketing and Communications and Michael Segwaya, Executive Director and Chief Finance Officer at the Absa Bank Uganda Head Office on Hannington Road last year following the receipt of a license to trade and operate from Bank of Uganda.

22% surge in customer deposits propels growth in customer lending and investments; creating a UGX3.4 trillion asset base, allowing Absa to overtake Standard Chartered Bank and dfcu Bank to become Uganda’s third largest commercial bank, after Stanbic and Centenary Bank.

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About the Author

Muhereza Kyamutetera is the Executive Editor of CEO East Africa Magazine. I am a travel enthusiast and the Experiences & Destinations Marketing Manager at EDXTravel. Extremely Ugandaholic. Ask me about #1000Reasons2ExploreUganda and how to Take Your Place In The African Sun.

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