KAMPALA, Uganda – Absa Bank Uganda is positioning for its next phase of growth after a strong 2025 performance, with customer deposits rising to UGX 4.6 trillion and total assets increasing by 29.4%, strengthening its capacity to extend financing as demand for financial services grows.
“Our performance in 2025 reflects the deliberate choices we have made to strengthen the foundations of the business. This is evident in the growth of our balance sheet and a 25.1% increase in profit after tax to UGX 222 billion, driven by both funded and non-funded income streams. We have focused on understanding our customers deeply, investing in digital capability, and being precise in how we deploy capital,” said David Wandera, Managing Director of Absa Bank Uganda.
The bank’s 2025 performance also reflects the impact of a refreshed strategy: placing the customer at the centre, strengthening its Pan-African reach, driving disciplined execution, and unlocking new growth through innovation. This translated into tangible momentum across the bank. Customer-led growth strengthened the balance sheet and improved the Customer Experience Index, while Pan-African initiatives enabled impactful transactions connecting Uganda to regional and global opportunities.
“In 2025, the bank’s balance sheet continued to strengthen, underscoring a deliberate focus on its quality and resilience. The growth in customer deposits and total assets has enhanced our funding base and liquidity, positioning us to support increased credit demand as economic activity expands, while maintaining disciplined capital allocation,” said Michael Segwaya, Chief Financial Officer and Executive Director.
Disciplined execution remained a key focus, reflected in improved efficiency, a resilient cost-to-income ratio, and prudent risk management, underpinned by a sound control environment. At the same time, the bank advanced growth opportunities, including the proposed acquisition of the Standard Chartered Retail and Wealth Management business in Uganda, alongside continued investment in digital innovation.
Uganda’s economy continues to show resilience, with growth projected at 6-7% according to the World Bank and IMF, supported by strong domestic demand, infrastructure investment, and the anticipated start of oil production.
This performance is ultimately reflected in the real economy and demonstrates the bank’s commitment to sustainable development. Absa strengthened electricity distribution through a USD 50 million facility to Uganda Electricity Distribution Company Limited (UEDCL), accelerated digital connectivity via a USD 100 million syndicated facility to MTN Uganda, and facilitated affordable, reliable student mobility through its partnership with Tata.
In 2025, Absa’s payment volumes rose by 18.5%, outpacing the market average of 11% and positioning the bank as a leading player in digital payments. Mobile banking transaction values rose 39.4% to UGX 15.5 trillion, highlighting a structural shift toward digital channels and increasing demand for seamless financial solutions. This growth was supported by enhanced digital capabilities, including streamlined account opening that enables customers to open accounts in under 10 minutes, as well as solutions such as Absa multi-currency virtual cards, Absa Pay by Link, and Absa Digi Loan, which provide efficient local and international transactions and convenient access to short-term financing through mobile channels.
“The anticipated start of oil production is expected to unlock a new phase of economic activity, including increased foreign direct investment, stronger regional trade, and growth across sectors such as agriculture and manufacturing. According to the World Bank and Ministry of Finance, these shifts are already translating into rising demand for financing. For us, this creates a clear opportunity to expand our capacity and support growth at scale,” Wandera added.
Absa was also recognised by the Bank of Uganda as the Best Performing Primary Dealer Market Maker (PDMM) in Uganda Government Securities for the period October 2024 to September 2025, reflecting strong primary and secondary market activity and active interbank participation
For more information, visit www.absa.co.ug
