The Minister of Finance, Planning and Economic Development today received Pride Bank’s 2025 Annual Report, marking an important engagement between government and one of Uganda’s leading indigenous financial institutions.
The meeting provided an opportunity for the Bank to present its financial performance, demonstrate its contribution to national development priorities and reaffirm its commitment to expanding inclusive financial services across the country.
The presentation comes at a defining moment for Pride Bank following its transition to a Tier II Credit Institution under the supervision of the Bank of Uganda. Having successfully completed this milestone, the Bank’s 2025 performance demonstrates that the transformation is already translating into stronger financial results, greater customer confidence and increased support for Uganda’s productive sectors.
During the presentation, Pride Bank reported a year of strong and sustainable growth. Customer deposits increased by 58% to UGX 282 billion, the loan portfolio expanded by 15% to UGX 268 billion, total assets grew by 28% to UGX 574 billion and profit after tax rose by 41% to UGX 11.6 billion. These results reflect disciplined execution and continued confidence from customers across the country.
Equally important was the quality of this growth. The Bank maintained a prudent lending strategy that balanced expansion with sound risk management, leading to improved recoveries and a significant turnaround from a UGX 7.5 billion impairment charge in 2024 to a net credit position in 2025. This demonstrates a maturing institution focused on long-term sustainability rather than short-term gains.
Operational performance also continued to strengthen during the year. Total income grew by 11%, driven largely by net interest income, while operating expenses increased by only 6% despite continued investments in technology, people and infrastructure. The result is a stronger, more efficient institution that is well positioned for future growth.
Pride Bank also maintained one of the strongest capital positions in the sector, with core capital adequacy of 49.7% and total capital adequacy of 50.4%, both well above regulatory requirements. These robust capital buffers provide the foundation needed to continue financing Uganda’s growing economy while maintaining financial stability.
Beyond financial performance, the Bank continues to play a critical role in advancing financial inclusion. During 2025, Pride Bank served more than 83,000 borrowers, including over 15,000 farmers, more than 37,000 women and nearly 23,000 young entrepreneurs. At the same time, its depositor base grew to over 327,000 customers, strengthening the Bank’s ability to mobilise savings and finance productive investment across Uganda.
The Bank emphasised that these achievements are the result of consistent institutional discipline built over many years. Under the leadership of Managing Director Veronicah Namagembe, Pride Bank has steadily expanded its reach, strengthened governance and invested in systems that continue to position the institution as a trusted partner for individuals, businesses and communities.
Speaking during the AGM, Henry Musasizi, the Minister of Finance, Planning and Economic Development Pride Bank’s continued growth and its focus on financing agriculture, SMEs and other productive sectors aligns with Government’s commitment to expanding financial inclusion and supporting Uganda’s socio-economic transformation.”
Managing Director Veronicah Namagembe added: Our 2025 performance reflects the confidence our customers continue to place in us and the dedication of our staff. As Pride Bank, we remain committed to responsible growth, innovation and delivering financial solutions that create lasting value for our customers and contribute meaningfully to Uganda’s economic development.”
Looking ahead, Pride Bank will continue building on this momentum by deepening lending to agriculture, trade and small and medium enterprises while accelerating its digital transformation journey. Backed by strong capital, disciplined governance and a growing nationwide customer base, the Bank remains focused on delivering sustainable growth and creating greater economic opportunities for all Ugandans.
The presentation of the 2025 Annual Report underscores Pride Bank’s continued commitment to accountability, transparency and partnership with Government. As the institution enters the next phase of its journey, it remains focused on strengthening inclusive banking and supporting Uganda’s long-term economic aspirations through resilient, responsible and customer-centred financial services.
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