Centenary Bank has been named Uganda’s Best Retail Bank 2022 in the just-announced Global Banking and Finance Awards.
Run by the UK-based Global Banking & Finance Review, one of the leading banking and finance industry online and print magazines, the Global Banking and Finance Awards recognise and celebrate financial institutions that are innovatively embracing the changes in the financial world to fuel their own and their customers’ growth.
The bank was recognised for its innovative leadership and use of technology to enhance especially financial inclusion.
The Bank, which is the second largest by deposits, lending, assets and profitability is as well the No.1 bank in mobile and agent banking.
Started in 1983 as a credit trust of the Uganda National Lay Apostolate, transforming into a full-service commercial bank in 1993, the bank has, thanks to its innovative approaches and deliberate financial inclusion efforts, had by 2010, grown to become the 5th largest bank, overtaking several other older banks in the process.
In the 12 years from 2010, under the leadership of Fabian Kasi, the bank continued to embrace digital banking-led innovations and by 2018 had overtaken dfcu Bank, Absa Bank and Standard Chartered Bank to become Uganda’s second largest bank with Shs 2.282 trillion in deposits, Shs 1.529 trillion in lending and Shs 3.170 trillion in assets. Net profit- reached Shs 107.6 billion.
According to results for 2022, the continued to grow with deposits reaching Shs 3.181 trillion, lending reaching Shs 2.277 trillion, total income reaching Shs 864 billion and net profit crossing the Shs 200 billion mark reaching a record Shs 211.5 billion.
As a result, the balance sheet size grew, to touch a record high of Shs 4.8 trillion.
The bank’s Managing Director, Fabian Kasi said having made significant market share strides, the bank is now focusing on becoming an efficient and SMART bank by 2026, with a series of technology-led products and solutions, that drive customer centricity, efficiency, process automation, sustainability, learning and growth.
“We would like to be a bank that continuously delivers value to our customers and all stakeholders while leveraging on technology, people and good relationships,” Fabian recently told online magazine, CEO East Africa Magazine, in an interview.
Centenary Bank has previously won many other industry and peer accolades such as Best Banking Innovation Excellence for the CenteOntheGo Service; Best Community / MFI Banking Innovation Excellence and Silver Award as the Digital Brand of the Year in the Digital Impact Awards Africa.
Brand Africa recently recognized the bank with two awards, namely: The Most Admired Ugandan Financial Services Brand and One of the Most Helpful Brands during the Covid-19 pandemic. During the Financial Reporting Awards 2021 where the bank was honoured with 3 accolades, namely: Silver Award – Integrated Report of the Year; Winner of the Presentation & Communication.
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