KAMPALA– NCBA Bank Uganda hosted its annual NCBA Connect Evening, a Customer appreciation dinner gala to celebrate a year of strong financial performance.
During the event, the bank officially unveild its new Head Office at Twed Towers in Nakasero, and launch the refurbished Nakasero Branch.
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’s 2024 performance demonstrated strong and consistent growth across key financial indicators. 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.
NCBA also doubled its asset finance portfolio, expanded its loan book by 20%, and achieved significant gains in corporate and premier banking. New offerings in trade finance, mortgages, and bancassurance were also launched.
Muyobo noted that the relocation to Twed Towers and the refurbishment of Nakasero Branch reflect 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.
He said NCBA plans to invest in a revamped mobile banking app and an upgraded Corporate & Investment Banking platform in 2025. These are part of broader efforts to support Uganda’s growing digital economy and enhance customer convenience.
Speaking on behalf of the Deputy Governor of the Bank of Uganda, Mr. David Kalyango, Director of Supervision, 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.
He highlighted 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. Kalyango emphasized that the new location would enhance the bank’s engagement with the local business community and contribute significantly to Uganda’s economic development.
Kalyango further applauded NCBA for remaining agile in an evolving financial landscape, shaped by shifting consumer expectations and regulatory changes. He cited recent Bank of Uganda policy measures such as the Financial Institutions (Corporate Governance) Regulations 2024, the Internal Liquidity Assessment Process (ILAAP) Guidelines, the 2024 Cybersecurity Risk Management Guidelines, and the ESG Framework, all aimed at strengthening the resilience and soundness of Uganda’s financial sector.
“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.
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.
Recent digital enhancements include the Muzuripay payments solution, which facilitated thousands of transactions during events like MAKRUN and the Auto Show.
Pending regulatory approval, a new internet banking platform for both retail and corporate clients will soon launch, featuring advanced security and user-friendly design to meet evolving customer needs.
