David Wandera, the Managing Director at Absa Bank Uganda, presenting the 2025 results at Sheraton Hotel this week
Absa Bank Uganda Ltd posted strong financial performance in 2025 despite the election-related uncertainty.
According to the just-released financial results, Absa bank’s net profit grew by 25.1% to UGX222.4 billion in 2025, up from UGX178.86 billion in the previous year.
The bank’s customer deposits grew by 46.5% to UGX4.66 trillion, up from UGX3.18 trillion recorded in 2024.
David Wandera, the Managing Director at Absa Bank Uganda, attributed the strong growth to a refreshed strategy of placing the customer at the centre, strengthening Pan-African reach, driving disciplined execution and unlocking new growth through innovation.
He said the bank adopted the new strategy after it realized that although Uganda’s macroeconomic fundamentals remain strong, with GDP growth averaging 6.3% and inflation below 4%, they do not always how the full picture.
He noted that for many businesses and households, real constraints remain access, speed and managing cashflow day to day.
“Performance is meaningful only when it reflects these lived realities and real progress in the economy,” he said.
The bank’s net loans advanced to customers grew by 7% to UGX2.13 trillion in 2025, up from UGX1.99 trillion recorded a year earlier.
The bank recorded impressive growth across key performance indicators, with total assets growing by 29.46% to UGX7.03 trillion in 2025, up from UGX5.43 trillion in 2024.
“This performance is reflected in the real economy and demonstrates our commitment to sustainable development, Wandera said.
Michael Segwaya, the Chief Finance Officer at Absa, said that more than 40 percent of the bank’s lending went to trade, manufacturing, and agriculture, with close to 28 percent supporting households.
On the long-awaited Stanchart acquisition, Segwaya said they will soon complete the Standard Chartered Bank acquisition and broaden presence in retail and wealth segments as the lender also aims to focus on digital innovation to enhance customer experience.
Outlook
Going forward, Wandera is optimistic that the anticipated start of oil production this year presents an opportunity to expand the bank’s capacity to support growth in retail and corporate segments.
“Uganda’s growth trajectory remains strong, and our confidence as a bank is grounded in experience. We will continue to grow with discipline, deepen customer relevance, expand capacity to support Uganda’s development at scale, and advance a culture of shared ownership within the organization,” Wandera said.
