2022 Bank Performance

Q&A: Equity Bank’s Anthony Kituuka, talks about doing well while doing good and a digitally-led inclusive ambition to 5 million customers by end of 2025

by Muhereza KyamuteteraCEOsQ + AsThe Big StoryJune 16, 2023June 16, 2023

The interview takes place against a backdrop of significant positive performance, as reported in the 2022 published financials. Equity Bank Uganda, registered significant growth, reporting a 32% growth in customer numbers from 1.222 million to 1.613 million and a 39% growth in the number of agents from 5,572 agents to…

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DTB’s Varghese Thambi: In 2022, we laid a solid foundation for DTB’s future, a financial technology-led and beyond-banking future

by Varghese ThambiCEOsThe Big StoryThought LeadershipMay 12, 2023May 12, 2023

Esteemed Customers,Over the years, DTB has prided itself as a contributor to the financial well-being of our customers by offering them unmatched services and innovative solutions, anchored on convenience, agility in response and ease of access.The year 2022 was pivotal for DTB. It was also an inflection year for us,…

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UGX32.9 bn profit and UGX1.1 trillion in assets; KCB Bank caps off Ugandan 15th anniversary stronger

by Muhereza KyamuteteraCompany NewsNews & AnalysisThe Big StoryMay 11, 2023May 11, 2023

KCB Bank Uganda, a subsidiary of KCB Group, one of East Africa’s largest financial groups, reported that its net profit for 2022, grew by an impressive 344.6% from UGX7.4 billion in 2021 to UGX32.9 billion⏤the highest ever in the bank’s 15-year history in Uganda.This was driven by a 30.5% rise…

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Equity Bank breaks into Uganda’s top 5 banks; designated Domestic Systemically Important Bank by Central Bank

by Muhereza KyamuteteraIndustry & AnalysisThe Big StoryMay 9, 2023May 9, 2023

Despite taking a 46.7% drop in 2022 net profit, Equity Bank Uganda still managed to make significant growth and key market share gains in customer deposits, lending, income and assets and capped off the year, by breaking into Uganda’s top 5 banks club.In the just released results, Equity Bank reported…

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What next for Uganda’s undercapitalised banks? 

by Muhereza KyamuteteraIndustry & AnalysisThe Big StoryMay 8, 2023January 18, 2024

On the 16th of November 2022, the Financial Institutions (Revision of Minimum Capital Requirements) Instrument 2022 was signed into law by Uganda’s Minister of Finance, Planning and Economic Development (MFPED), Hon. Matia Kasaija. The instrument increased the minimum capital requirements for banks by  6 times or 500% from UGX25 billion…

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OPINION: Ecobank Uganda’s 2022 strong performance demonstrates our renewed customer commitment and enhanced value propositions  

by Grace MuliisaCEOsThe Big StoryThought LeadershipWomen In LeadershipMay 4, 2023May 4, 2023

Ecobank Uganda registered a strong performance turnaround during the year ending 2022, with audited Profit before Tax (PBT) increasing by 157% to UGX 4.5 billion in 2022, while Profit After Tax (PAT) increased by 104% to UGX 401million in 2022 from a loss of UGX11.0 billion in 2021. Despite a challenging…

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2022 net profits at Diamond Trust Bank’s Ugandan unit grow 16.2% to UGX35.8 bn

by CEO ReporterCompany NewsNews & AnalysisThe Big StoryMay 2, 2023May 2, 2023

Diamond Trust Bank Uganda, the Ugandan subsidiary of the Kenya-headquartered Diamond Trust Bank Group has released its 2022 financials reporting double-digit growth in deposits, lending, income, profits and assets.According to results made public last, DTB Uganda reported a 25% growth in deposits from UGX1.5 trillion in 2021 to UGX1.88 trillion⏤…

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Housing Finance Bank profits reach a record UGX58.5 bn; becomes Uganda’s 5th most profitable bank

by The CEO Magazine TeamCompany NewsNews & AnalysisThe Big StoryMay 2, 2023May 2, 2023

Housing Finance Bank, the government of Uganda and NSSF-owned lender is now Uganda’s 5th most profitable bank, jumping three positions from the 8th in 2021. In 2022 results released last week, the bank reported that net profit grew by a record  42.7% growth from UGX41 billion to UGX58.5 billion.The bank increased…

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I&M Bank Uganda ends 3-year loss streak in solid form; announces UGX5.6 bn profit and key growth in deposits and assets

by The CEO Magazine TeamCEOsCompany NewsThe Big StoryApril 28, 2023April 28, 2023

The benefits of Orient Bank’s acquisition and subsequent rebranding to I&M Bank Uganda and thereafter integration into the larger I&M Group Plc are unfolding with the bank’s release of its first full year under the I&M brand.In results released today, the bank reported an 8.9%  jump in customer deposits from…

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Grace Muliisa leads Ecobank’s double-digit growth and a turnaround to profitability

by Muhereza KyamuteteraCompany NewsNews & AnalysisThe Big StoryWomen In LeadershipApril 28, 2023April 28, 2023

Ecobank Uganda, the Ugandan unit of the Ecobank Group has today published its 2022 results, reporting a marked double-digit turnaround on nearly all its key fundamentals.The bank also reported a return to profitability. In results released today, the bank reported that deposits grew 17% from UGX377.3 billion to UGX443.9 billion, a…

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