Absa Bank Uganda has reported a strong financial performance for 2025, posting a 25.1 percent increase in profit after tax to Shs228 billion, driven by significant growth in customer deposits and continued expansion in digital banking.
According to Absa Bank Uganda, customer deposits rose by 46.4 percent to Shs4.6 trillion while total assets grew by 29.4 percent, reinforcing the bank’s ability to extend credit as demand for financial services increases.
“Our performance in 2025 reflects the deliberate choices we have made to strengthen the foundations of the business,” Managing Director David Wandera said.
He added, “This is evident in the growth of our balance sheet and a 25.1 percent increase in profit after tax to Shs228 billion, driven by both funded and non-funded income streams. We have focused on understanding our customers deeply, investing in digital capability, and being precise in how we deploy capital.”
The bank said its performance was underpinned by a refreshed strategy that places the customer at the centre, strengthens its Pan African footprint, and emphasizes disciplined execution. This, it noted, has translated into improved service delivery and stronger transaction growth.
Chief Financial Officer Michael Segwaya said the bank’s financial position remains solid, supported by strong liquidity and a growing funding base.
“In 2025, the bank’s balance sheet continued to strengthen, underscoring a deliberate focus on its quality and resilience,” Segwaya said.
Segwaya added,“The growth in customer deposits and total assets has enhanced our funding base and liquidity, positioning us to support increased credit demand as economic activity expands, while maintaining disciplined capital allocation.”
Digital banking continued to be a key growth driver, with mobile banking transaction values rising by 39.4 percent to Shs15.5 trillion, while payment volumes increased by 18.5 percent, outperforming the market average.
The bank attributed this growth to increased adoption of digital channels, supported by innovations that allow customers to open accounts in under 10 minutes and access services such as virtual cards, Absa Pay, and short term mobile loans.
Absa also highlighted its role in supporting Uganda’s broader economic development, including financing in the energy and telecommunications sectors and partnerships aimed at improving access to services.
Wandera said the country’s economic outlook presents new opportunities for expansion, particularly with the expected start of oil production.
“The anticipated start of oil production is expected to unlock a new phase of economic activity, including increased foreign direct investment and stronger regional trade,” he said.
He added,“For us, this creates a clear opportunity to expand our capacity and support growth at scale.”
The bank was also recognised by the Bank of Uganda as the Best Performing Primary Dealer Market Maker in government securities for the period October 2024 to September 2025, reflecting strong participation in the secondary market.
Absa said it will continue to invest in innovation and customer focused solutions as it positions itself for sustained growth in a rapidly evolving financial sector.
