By Felix Oketcho
In a strategic move aimed to take over the corporate banking business,NCBA Bank Uganda has officially launched its headquarters and celebrated impressive 2024 performance.
Mark Muyobo, NCBA Uganda’s CEO, described the Connect Evening as a powerful platform to reaffirm the bank’s dedication to building lasting relationships.
“This evening is a symbol of our appreciation and a reaffirmation of our pledge to walk this journey with you. We are here to grow with you, support your ambitions, and reach greater milestones together,” Muyobo said.
The bank net loans and advances increased by 18%, rising from UGX 253 billion to UGX 298 billion, while customer deposits grew by 15% to UGX 654 billion. The bank’s total assets expanded by 13%, reaching UGX 963 billion, and operating income rose by 11% to UGX 95 billion. Most notably, profit before tax surged by an impressive 40%, climbing from UGX 32 billion in 2023 to UGX 46 billion in 2024.
Muyobo highlighted that the refurbishment of Nakasero Branch reflects NCBA’s commitment to delivering an enhanced customer experience.
“Our new head office offers cutting-edge digital banking and a dedicated Premier Lounge designed for our Premier customers,” he added.
NCBA plans to invest in a revamped mobile banking app and an upgraded Corporate & Investment Banking platform in 2025 as part of broader efforts to support Uganda’s growing digital economy and enhance customer convenience.
David Kalyango, Director of Supervision at the Bank of Uganda, speaking on behalf of the Deputy Governor, commended NCBA for its strategic investment in infrastructure and customer-centric banking services.
“It is both an honour and a privilege to witness this milestone. NCBA’s continued efforts to upgrade, modernize, and rebrand its service outlets are commendable. This move is not just about infrastructure—it reflects a strategic focus on enhancing customer experience and affirming your commitment to excellence in financial service delivery,” Kalyango noted.
Kalyango emphasized that positioning the head office in Kampala’s business hub would enable the bank to offer premium services to both current and potential clients more conveniently.
“This decision shows strong vision and dedication to improving access to quality financial services,” he added. As part of the larger NCBA Group, the bank is now well-positioned to serve a wide range of clients—from multinational corporations and regional companies to SMEs in key sectors such as trade, manufacturing, and agriculture.
The bank’s partnership with MTN Uganda on the MOKASH platform has disbursed over UGX 2.8 trillion and now serves nearly 14 million active customers as of April 2025. NCBA continues to dominate asset finance in Uganda, partnering with dealers and pioneering floor plan financing. In 2024, it relaunched its Premier Banking proposition and invested in human capital to strengthen relationship management across both retail and corporate segments.
Kalyango applauded NCBA for remaining agile in an evolving financial landscape, shaped by shifting consumer expectations and regulatory changes. “NCBA must continue aligning with these regulatory frameworks, particularly the revised minimum capital requirements, to ensure full compliance and build resilience to future shocks,” he urged.