Top 10 Richest Banks In Uganda 2019 – 2020

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These are the top 10 richest banks in Uganda 2019.

10. Bank of Africa – Uganda Ltd

Bank of Africa – Uganda Ltd (BOA-Uganda) is a financial services provider that was founded in 1984 as Sembule Investment Bank.

It is a member of the Bank of Africa Group that has a presence in 10 countries in Africa and that also operates in France.

It provides a range of banking products and services such as loans, savings, checking, debit and credit cards, investments, and mortgages to small retail businesses, medium-sized local enterprises, and multinational companies. Its headquarters is in Kampala.

Revenue: UGX 70.99 billion

Net income: UGX 12.14 billion

Total assets: UGX 66.56 billion

9. Equity Bank

One of the fastest-growing banks in Uganda is Equity Bank Uganda Limited. Founded in 2008, it operates through a network of 33 branches and 35 ATMs throughout the country.

It provides a range of banking products and services such as loans, savings, checking, and investments. It is a subsidiary of Equity Group Holdings Limited, a financial services conglomerate that is based in Kenya.

In 2010, Equity Bank was given the Employer of the Year Award by the Uganda Investment Authority.

In 2015, it was considered one of the top Ten Banks in Uganda in terms of income and deposits. Equity Bank is based in Kampala.

Revenue: UGX 50.32 billion

Net income: UGX 15.22 billion

Total assets: UGX 379.75 billion

8. Housing Finance Bank

Housing Finance Bank is the leading mortgage lender in Uganda, accounting for about 60 percent of mortgages.

It also provides other services such as loans, savings, checking, debit cards, and investments.

It was founded in 1967 as a housing finance company, then became a licensed commercial bank in 2008. Its headquarters is in Kampala.

Revenue: UGX 18 billion

Total assets: UGX 680.2 billion

7. Citibank Uganda

Citibank started operating in Uganda in 1999, providing a range of banking products and services including loans, savings, investments, transaction accounts, and debit cards.

With the establishment of Citibank Uganda, Citigroup’s corporate banking business has become one of the largest in the country.

It serves more than 250 clients from various sectors. Its headquarters is in Kampala.

Total assets: UGX 951.1 billion

6. Bank of Baroda Uganda Limited

Bank of Baroda Uganda Limited or Bank of Baroda Uganda (BBU) is a commercial bank that provides loans, credit cards, savings, and investments services to individuals, SMEs, and large corporations.

Headquartered in Kampala, it is a subsidiary of Bank of Baroda, an international bank that is based in Mumbai, India. It was established in 1953.

Revenue: UGX 151.67 billion

Net income: UGX 49.25 billion

Total assets: UGX 1.48 trillion

5. Centenary Bank

Centenary Rural Development Bank Ltd is a financial services provider in Uganda that is engaged in commercial banking.

The bank offers loans, savings, investments, checking and debit cards to more than 1.4 million customers through a network of 69 branches and 172 ATMs.

It also plays a role in microfinance, helping rural farmers, small traders, importers, exporters, and manufacturers.

Centenary Banks was founded in 1983 and was registered as a full-service commercial bank in 1993. Its headquarters is in Kampala.

Revenue: 417.04 billion

Net income: UGX 109.91 billion

Total assets: UGX 2.32 trillion

4. Barclays Bank of Uganda

Barclays Bank of Uganda Limited provides a range of banking products and services such as loans, savings, checking, investments, and debit cards to individuals, SMEs and large corporations.

It started its operations in 1927. It acquired the Ugandan business of the Commercial Bank of Africa in 1969.

The commercial bank further strengthened its presence in the country by acquiring Nile Bank Uganda Limited in 2007. It is based in Kampala.

Revenue: UGX 304.45 billion

Net income: UGX 72 billion

Total assets: UGX 2.48 trillion

3. Standard Chartered Bank

Standard Charted Bank Uganda Limited was established in 1912, making it the oldest of the banks in Uganda.

It is the first Ugandan bank to introduce the VISA Electron debit card and toll-free phone banking.

It is also the first bank to be licensed to trade government securities as the main dealer in Africa, and the first to offer derivative products.

SCB Uganda provides various banking products and services, including debit cards, investments, loans, savings, and checking, through its network of 11 branches and 29 ATMs in main areas of Uganda. Standard Chartered Bank is based in Kampala.

Revenue: UGX:112 billion

Total assets: UGX:2.944 trillion

2. DFCU Bank

Development Finance Company of Uganda Bank Limited, or DFCU Bank, is the second largest of the commercial banks in Uganda.

DFCU offers several banking products and services, including loans, savings, checking, debit and credit cards, investments, and mortgages, through its network of 68 branches and 100 ATMs throughout the country.

Established in 1964, DFCU Bank is based in Kampala.

Revenue: UGX 519.88 billion

Net Income: UGX 127.64 billion

Total assets: UGX: 3.03 trillion

1. Stanbic Bank

One of the licensed commercial banks in Uganda is Stanbic Bank, which is a majority-owned subsidiary of Stanbic Africa Holdings Limited.

The bank offers a comprehensive range of banking products and services, such as savings, loans, investments, debit and credit cards, and mortgages.

Stanbic Bank was established in 1906 under the name National Bank of India.

It became Grindlays Bank until 1991 when Standard Bank bought the Grindlays Bank network in Africa.

It was then renamed as Stanbic Bank (Uganda) Limited. Its headquarters is in Kampala.

Revenue: UGX 636.04 billion

Net income: UGX 200.47 billion

Total assets: UGX 5.4 trillion




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Sande Kennedy

Sande Kennedy is the founder of SandeKennedy.com & Kenyans247.com He is a Kenyan-based Internetprenuer,blogger Political Activist,informer who has an interest in politics, governance, corporate-fraud and human-interest. Kindly drop me a note if you feel aggrieved on any matter that you would want to be highlighted. Twitter @itssandekennedy , Instagram @itssandekennedy WhatsApp: +254791890826 Read More about me here

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