Africa-Press – Uganda. Absa Uganda posted a net profit of Shs222 billion for the financial year 2025, the bank has announced.
The performance indicates a 25.1% increase from the shs178 billion posted the previous year.
Presenting the financial results at Sheraton Hotel in Kampala on Wednesday, Absa Uganda Managing Director, David Wandera said the performance reflects deliberate choices made by the bank to strengthen business.
These results set the stage for our next phase of growth. Importantly, they reflect a business that is building trust, strengthening its capacity to lend, facilitating the ease of doing business and operating with discipline. That positions us to support growth more effectively across the economy,” Wandera said.
According to the results , the bank’s revenue grew by 16.6% to shs 637 billion from shs546 billion while total assets also grew by 29.4% while customer deposits increased to shs4.6 trillion.
Explaining the reason behind this performance, Wandera said in 2025, the bank’s focus was deliberate and anchored in their refreshed strategy anchored on four pillars and this contributed to the good performance.
“The strategy was supported by investment in the areas that matter most to our customers.The growth in deposits is ultimately a reflection of customers choosing Absa as their bank of choice. We have also been very intentional about where and how we lend ensuring that we are supporting critical sectors driving the economy,” Wandera said.
He said over 40% of Absa Uganda’s loan book is directed towards trade, manufacturing, and agriculture, sectors that sit at the core of Uganda’s productive economy, supporting enterprise growth, job creation, and value addition.
“At the same time, close to 28% of our lending supports individuals and households, reflecting the importance of enabling everyday financial resilience and participation in the economy.”
“We are doing this through driving digital, exploring new product offerings and inorganic growth through acquisitions where possible. We have continued to simplify processes, reduce friction, and meet customers at their point of need whether through digital payments, lending, or investments.”
According to Wandera, the growth in preference for digital services played in the bank’s favour.
According to Bank of Uganda, mobile banking transaction values grew by 39.4% to shs 15.5 trillion between June 2024 and June 2025, reflecting how quickly customer behaviour is shifting towards digital channels.
The Absa Uganda Managing Director said this is reinforced by broader system trends, with electronic funds transfer values increasing by 8.7% to shs64.6 trillion, while cheque transactions declined, signalling a continued migration away from paper-based payments towards digital financial services.
“This tells us that digital is no longer an alternative; it is becoming the default way customers expect to engage with financial services. Within this context, our payment volumes rose by 18.5%, outpacing the market average of 11% and positioning the bank as a leading player in digital payments. Additionally, we continue to see strong growth in card usage and digital engagement,” he said.
Going forward, Wandera said the anticipated start of oil production later this year, continued infrastructure investment, and rising regional trade which are expected to drive increased economic activity present a clear opportunity for the bank.
“These present an opportunity to expand our capacity, deepen our reach and continue to support growth at scale across both retail and corporate segments.We are entering this phase from a position of strength: a solid balance sheet, a growing customer base and a clearer understanding of where we can have the most impact,” Wandera said.
The Absa Uganda Chief Finance Officer, Michael Segwaya said the new year presents an opportunity to expand lending capacity as the economy enters an oil-driven growth phase but also deepen ESG integration sustainability embedded at the heart of every decision the bank makes.
“We will complete the Standard Chartered Bank acquisition and broaden presence in retails and wealth segments as well as continue digital leadership to enhance customer experience , making banking faster, simpler and more inclusive,” Segwaya noted.
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