PostBank Uganda rebrands to serve public better
The announcement was made during the bank’s 2024 Annual General Meeting, held today at the Ministry of Finance headquarters in Kampala
KAMPALA, June 5, 2025 – PostBank Uganda is set to rebrand as a Tier I commercial bank under the new name Pearl Bank Uganda Limited, subject to approval by the Bank of Uganda. The move is part of the bank’s broader strategy to enhance service delivery and better position itself in the competitive banking sector.
The announcement was made during the bank’s 2024 Annual General Meeting, held today at the Ministry of Finance headquarters in Kampala.
Finance Minister Matia Kasaija whose ministry is a major shareholder, praised the bank’s transformation over the past five years, noting that the rebrand marks a significant milestone in its growth.
“Following PostBank Uganda’s transformation and strong progress over the last five years, the shareholders have approved the strategy to change its name and rebrand in order to reposition itself more effectively and attract stronger banking partners,” said Kasaija.
“We are proud to announce the approved rebrand of PostBank to Pearl Bank Uganda Limited, inspired by Uganda’s title as the ‘Pearl of Africa’. This change reflects our commitment to fostering prosperity and advancing agricultural value addition in Uganda,” he added.
With 57 branches, over 10,800 SACCOs, and more than 6,000 agents, PostBank Uganda has established a strong national presence, delivering inclusive financial services and supporting impactful government programmes. These include the digitalised Parish Development Model [PDM], facilitated through its digital wallet, the Wendi App.
In 2024, the Wendi platform onboarded over 1 million users, a key milestone in the bank’s efforts to expand access to financial services.
According to the bank’s 2024 financial statements, PostBank recorded a profit after tax of Shs 35.4 billion, reflecting a 28 percent increase from the previous year. The bank also reported a 20 percent growth in total income, which rose by Shs 42 billion to Shs 248 billion, alongside a 25 percent increase in customer deposits.
Last week, PostBank was named Best Performing Bank under the Agricultural Credit Facility [ACF] and the Small Business Recovery Fund (SBRF) at the national banking awards.
“PostBank Uganda has demonstrated strong financial performance, but what’s even more impressive is its impact on financial inclusion and support for MSMEs, the real engines of job creation and agricultural productivity,” said Kasaija.
William Kagoda, Head of Credit Evaluation at PostBank, added: “At the recent Bank of Uganda ACF and SBRF awards, PostBank emerged as the overall best-performing bank across the industry. This recognition highlights our strategic role in stabilising and growing small businesses through innovative financial solutions like the Small Business Recovery Fund.”
Andrew Otengo Owiny, Chairman of the Board, expressed his satisfaction with the bank’s achievements since its elevation to a full Tier I commercial bank in December 2021.
“I am very pleased with the progress we’ve made in solidifying our position as a transformative force in the sector,” he said.
Kagoda further noted that since 2021, PostBank has disbursed over Shs 30 billion, enabling enterprises to recover, expand, and create employment.
https://thecooperator.news/mps-want-pdm-beneficiaries-to-have-more-access-to-banking/
Buy your copy of thecooperator magazine from one of our country-wide vending points or an e-copy on emag.thecooperator.news
