The Ministry of Finance, Planning and Economic Development (MOFPED) has commended Pearl Bank for being a profitable, national, and impact-driven financial institution.
Speaking during Pearl Bank’s Annual General Meeting at MOFPED headquarters, Minister Hon. Matia Kasaijja noted that the bank’s performance reflects the strength of Uganda’s economy, which continues to record its longest period of sustained growth. He encouraged the bank to pursue even greater ambition in the coming years.
Pearl Bank’s Managing Director, Julius Kakeeto, reported a significant increase in profitability, with net profit after tax rising to 47.3 billion shillings in 2025, up from 35.4 billion in 2024—a 34% growth.
The growth was driven by strong interest income, improved asset utilization, and disciplined cost management, positioning the bank as one of the fastest-growing financial institutions in the country.
Customer confidence also grew, reflected in a sharp rise in deposits, which increased to 1.42 trillion shillings in 2025 from 990 billion in 2024.
A standout achievement was the Wendi Wallet, whose deposits surged more than fivefold, reaching 240.5 billion shillings in 2025 from 45.5 billion in 2024, highlighting the success of Pearl Bank’s digital strategy and commitment to financial inclusion.
By Charles Katabalwa
5th May 2026
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