NCBA Bank Uganda today hosted a media breakfast at its headquarters on Twed Towers, Kampala, under the theme ‘Unpacking the Brand: NCBA’, during which the bank’s strong performance and strategic innovations were unveiled.
The event brought together media partners and the bank’s leadership team to reflect on its performance, showcase strategic innovations, and reaffirm its commitment to delivering purpose-led, customer-centric banking.
Strong Financial Performance
The bank’s CEO, Mark Muyobo, shared an inspiring overview of NCBA’s journey, anchored in its purpose to inspire greatness through banking that matters.
Muyobo recapped how NCBA was born in 2020 from the merger of NIC and CBA, and has over the years grown into East Africa’s third-largest bank with Shs742 billion in assets.
“Our purpose is to inspire greatness through banking that matters,” Muyobo stressed.
James Mulandi, the bank’s Chief Finance Officer (CFO), presented the strong 2024 financial results, which included:
Net Loans and Advances: grew 18% to Shs298B
Customer Deposits: rose 15% to Shs654B
Total Assets: expanded to Shs 959B
Profit Before Tax: increased by 40% to Shs45B, driven by disciplined execution and continued investment in digital transformation.
“Our strong 2024 performance, 40% growth in profit before tax and double-digit asset growth, reflects disciplined execution, smart risk management, and our commitment to delivering sustainable value,” Mulandi said.
Digital Innovation
NCBA Bank’s Head of Digital Business, Philippa Muzahura, highlighted the growth of MoKash, the bank’s mobile savings and lending product that now serves over 4.5 million active users through an easy USSD interface (*165#). This digital innovation, she said, has enabled customers to access financial services conveniently and efficiently.
Supporting Uganda’s Productive Sectors
The bank’s Head of Corporate Banking, Malik Isabirye, emphasised NCBA’s role in financing Uganda’s productive sectors with value chain-based lending and asset finance. This support, he pointed out, is crucial for the country’s economic growth and development.
“Through our support for Uganda’s biggest sectors, agriculture, energy, and construction, with solutions ranging from working capital to trade finance and asset acquisition, we are powering growth across industries,” Isabirye said.
Customer-Centric Banking
The bank’s leadership team showcased its Premier and Personal Banking offerings, tailored for salaried professionals and high-net-worth clients. Isabirye noted that the bank’s digital and data-driven service model continues to enhance customer experience across all touchpoints.
Sustainability Agenda
On his part, Martin Mwanje, the NCBA Head of Sustainability, shared updates on the bank’s sustainability agenda, “Change The Story.” He revealed that in 2024, the bank planted 20,000 trees in Jubiya Forest Reserve, expanded its Green Financing Program, supported youth through the CBA Junior Golf Series, and championed inclusive sport.
Commitment to Innovation and Financial Inclusion
As the bank moves through 2025, Muyobo noted that NCBA remains committed to innovation, financial inclusion, and leading Uganda’s green mobility transition with upcoming EV rollouts and public charging stations. He noted that the bank continues to build a future where banking drives lasting, sustainable impact.
In a nutshell, the media breakfast was a testament to NCBA Bank Uganda’s commitment to transparency, innovation, and customer-centric banking.
The bank’s strong financial performance and strategic innovations demonstrate its position as a leader in Uganda’s banking sector.