NCBA’s 2024 financial outcomes demonstrated mighty and fixed notify across key indicators. Gain loans and advances increased by 18%, rising from Shs253 billion to Shs298 billion, while buyer deposits grew by 15% to Shs654 billion. Earnings sooner than tax surged by an spectacular 40%, hiking from Shs 32 billion in 2023 to Shs46 billion in 2024.
Kampala, Uganda | THE INDEPENDENT | NCBA Bank Uganda marked a first-rate milestone in its transformation roam by web web hosting the annual NCBA Connect Evening recently, a buyer appreciation gala celebrating a year of valid financial efficiency. The tournament moreover served as the legitimate unveiling of the financial institution’s novel head notify of job at Twed Towers in Nakasero and the commence of its refurbished Nakasero Branch.
Speaking on the tournament, NCBA Uganda CEO Ticket Muyobo described the Connect Evening as an spectacular platform to reaffirm the financial institution’s commitment to building enduring relationships. He stated the evening became a tribute to NCBA’s potentialities, partners, and stakeholders, recognizing their central role within the financial institution’s endured notify and success.
“This evening is a image of our appreciation and a reaffirmation of our pledge to dart this roam with you. We are right here to grow with you, enhance your ambitions, and reach bigger milestones together,” Muyobo stated.
NCBA’s 2024 financial outcomes demonstrated mighty and fixed notify across key indicators. Gain loans and advances increased by 18%, rising from Shs253 billion to Shs298 billion, while buyer deposits grew by 15% to Shs654 billion. The financial institution’s total property expanded by 13%, reaching Shs 963 billion, and running earnings rose by 11% to Shs 95 billion. Most notably, profit sooner than tax surged by an spectacular 40%, hiking from Shs 32 billion in 2023 to Shs46 billion in 2024.
The financial institution moreover doubled its asset finance portfolio, expanded its mortgage book by 20%, and recorded necessary positive aspects in corporate and premier banking. Fresh merchandise in replace finance, mortgages, and bancassurance had been launched to enhance buyer choices.
Muyobo highlighted that relocating the head notify of job to Twed Towers and refurbishing the Nakasero Branch underscore NCBA’s commitment to delivering an enhanced buyer skills. “Our novel head notify of job affords cutting-edge digital banking facilities and a devoted Premier Lounge designed for our Premier potentialities,” he effectively-known.
He added that the financial institution plans to make investments in a revamped cell banking app and an upgraded Corporate & Investment Banking platform in 2025, reflecting broader efforts to enhance Uganda’s rising digital economy and beef up buyer convenience.
Speaking on behalf of the Deputy Governor of the Bank of Uganda, David Kalyango, Director of Supervision, praised NCBA for its strategic investments in infrastructure and buyer-centric banking products and services. “It’s each an honour and a privilege to gape this milestone. NCBA’s endured efforts to beef up, modernize, and rebrand its service retail outlets are commendable. This switch is no longer appropriate about infrastructure—it shows a strategic focal level on enhancing buyer skills and affirming your commitment to excellence in financial service shipping,” Kalyango stated.
He additional effectively-known that situating the head notify of job in Kampala’s industry hub positions the financial institution to supply top rate products and services more very without problems to existing and prospective potentialities. “This decision demonstrates valid vision and dedication to bettering catch admission to to quality financial products and services,” he added.
As phase of the bigger NCBA Team, the financial institution is now effectively-positioned to relief a various client unhealthy—from multinational corporations and regional corporations to SMEs in key sectors similar to replace, manufacturing, and agriculture. Kalyango emphasized that the novel situation will enhance the financial institution’s engagement with the local industry community and make a contribution a great deal to Uganda’s financial notify.
He moreover counseled NCBA for closing agile amid an evolving financial landscape shaped by altering client expectations and regulatory reforms. Highlighting most modern Bank of Uganda insurance policies—including the Financial Institutions (Corporate Governance) Regulations 2024, Interior Liquidity Evaluate Task (ILAAP) Guidelines, 2024 Cybersecurity Danger Administration Guidelines, and the ESG Framework—Kalyango told the financial institution to align completely with these frameworks and note revised minimum capital requirements to augment resilience.
NCBA’s partnership with MTN Uganda by the MOKASH platform has disbursed over Shs2.8 trillion and within the purpose out time serves virtually 14 million active potentialities as of April 2025.
The financial institution continues to lead in asset finance in Uganda, working carefully with sellers and pioneering floor belief financing. In 2024, NCBA relaunched its Premier Banking proposition and invested a great deal in human capital to enhance relationship management across retail and corporate segments.
Most up-to-date digital innovations consist of the Muzuripay payments resolution, which processed hundreds of transactions at some stage in major events similar to MAKRUN and the Auto Expose. Pending regulatory approval, NCBA plans to commence a brand novel web banking platform for every retail and corporate potentialities, featuring developed safety features and particular person-pleasant design tailor-made to evolving buyer needs.
